UN Tourism connects leaders for Investment Conference

29.05.2024 - 13:09 / traveldailynews.com / Natalia Bayona / Theodore Koumelis

At the UN Tourism conference, stakeholders discussed boosting sustainable tourism investment in the Middle East, emphasizing technology, innovation, and education as pivotal for sector growth.

Recognizing the growing status of the region as a global investment powerhouse, UN Tourism brought key figures together for a special conference on “Investing in Tourism: Opportunities and Challenges for Sustainable Financing”. Held within the framework of the UN Tourism 50th Regional Commission for the Middle East, the conference served as a platform to discuss the opportunities and challenges related to financing the tourism sector in a sustainable way, with a special focus on innovation, technology and education.

The conference built on the massive momentum gaining around tourism in the region, including in the area of investments. According to UN Tourism data:

Opening the conference, H.E. Salim Mohammed Al Mahruqi, Minister of Heritage and Tourism for Oman, acknowledged the importance of investments for growing tourism both in the Sultanate and across the Middle East and for building a more resilient and sustainable sector at every level.

UN Tourism Executive Director Natalia Bayona, who gave a keynote speech outlining investment trends and opportunities in the region, said: “The Middle East now stands as a beacon of tourism innovation and investments. The region invested almost USD 14 billion in the sector over the past 5 years, with USD 341 million of this invested in tourism tech, demonstrating the region’s commitment to building a more digital and impactful sector.”

Panel discussions focused on some of the key priorities for stimulating and targeting tourism investments in the region, including effective partnerships, enhancing financial confidence and offering guarantees, and introducing greater innovation into financing mechanisms.

The high-level talks brought together the Ministers of Tourism from Oman, as well as Egypt, Jordan, alongside the President of Qatar Tourism and leading figures from destination management, investments and financing. Represented at the conference were the Sharjah Commerce and Tourism Development Authority, the Petra Development and Tourism Region Authority, Oman Development Bank, the Central Bank of Oman, Investments of Future Fund Oman, the Authority for SME Development of Oman, the Fujairah Adventure Center, and Ahli Islamic.

At the start of the conference, UN Tourism officially launched the newest edition of its growing portfolio of Tourism Doing Business investment guidelines. Focused on Jordan, the publication serves as a guide for investors, outlining the potential of the Kingdom’s tourism sector as well as key considerations related to foreign investments.

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