Market Trends of GCC Event Management Industry
This section covers the major market trends shaping the GCC Event Management Market according to our research experts:
Increase in Hospitality Revenue is Surging the GCC Event Management Industry
The GCC event management industry has a positive relationship with the hospitality industry. An increase or decrease in revenue in one will have an almost proportional impact on the other. Saudi Arabia leads the hospitality revenue in the region, after which comes the United Arab Emirates, Qatar, Bahrain, Oman, and Kuwait.
Saudi Arabia and the United Arab Emirates are among the biggest markets in the Gulf, holding the most economic and corporate events. They are revenue pools for the GCC event management industry.
Growth in Overall Spending is Propelling the GCC Event Management Industry
The level of income and spending increases with the level of growth and development in the region, which is a major factor driving the event management industry. The level of income of residents increases as they participate in different events and organize events related to household and commercial activities.
Dubai is widely regarded as the events capital of the world. With its incredible East-meets-West location for business activities, corporate events, and sporting events, travelers to the United Arab Emirates (UAE) are spoilt for choice with world-class events in some of the world's best venues within a single location.
Oman is among the GCC countries expected to grow with a GDP of 7.4%, followed by Saudi Arabia, Qatar, Bahrain, Kuwait, and the United Arab Emirates. This creates a positive environment for firms interested in investing in the Gulf event management market.
