Kuwait’s tourism industry to be worth over USD1 billion by 2027

Published on : Tuesday, March 21, 2017

4With ambitions to welcome 440,000 visitors a year by 2024, the government of Ku wait is pressing ahead with multiple plans that will see billions of dollars invested in projects and a further $1 billion budget earmarked to promote the Gulf state over the same period.

Plans are in place to establish a Supreme Commission for Tourism to initiate its tourism strategy as the country prepares to showcase at Arabian Travel Market (ATM) 2017, which takes place at Dubai World Trade Centre 24-27 April.A number of mega-projects will share the multi-billion dollar development budget, including: Madinat Al Hareer and Silk City, a proposed mega-development in the country’s north; the expansion of Kuwait International Airport, reaching 25 million passenger per year capacity by 2025; and cultural attractions such as Sheikh Saad Al-Abdullah Islamic Centre.

Simon Press, Senior Exhibition Director, ATM, said: “Kuwait is evolving into a multifaceted destination with many things to offer both corporate and leisure visitors. The government is making huge investments at a crucial time for the country’s development and, in channeling significant funds into tourism infrastructure, leisure developments and lifestyle destinations, in the long-term Kuwait is telling the world it’s very much open for business.”

According to figures from the World Travel and Tourism Council, travel and tourism investment in Kuwait is set to rise 1.5% per annum over the next ten years to KWD135.6 million in 2027.The latest Colliers International Kuwait Hospitality Market Snapshot, reports 70% of visitors arrived in Kuwait as corporate travelers in 2016, with the country’s leisure industry comprising only 6% of total arrivals – hotel performance declined 6% overall for the year as a result. Business spending also suffered losses, falling 2.4% over the course of the year.

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