Scotland to attract more Middle Eastern investors into US$6.5 billion tourism industry
Dubai, United Arab Emirates, 25 April (Final): The Scottish Government is to send its first team of senior advisors to Dubai for the Arabian Hotel Investment Conference as it seeks to attract more regional investors into its US$6.5 billion tourism industry.
Scotland continues to perform well within European league tables for hotel occupancy levels and RevPAR (revenue per available room). In 2011 Edinburgh, the national Capital, had the second highest occupancy levels in the whole of Europe and four other Scottish cities were ranked in the top ten (Source: STR Global). In addition, each month during 2011 a Scottish city was found to have the second highest hotel occupancy levels in the United Kingdom aside from London. Scotland continues to attract international investments into its increasingly attractive hospitality sector.
Arab businesses have already started to invest into an increasingly attractive market. This includes Dubai World which now owns the luxurious Turnberry Resort near Glasgow, and MBI International which owns the Scotsman Hotel in the very heart of Edinburgh City Centre.
Kenneth Clark, Head of Tourism from Scottish Development International, who is attending the Conference, said: “Scotland has established itself as a primary destination for high end tourists from the Arab world because of what it has to offer in terms of its authenticity, excellent hospitality and diverse experiences. We want to translate this enthusiasm for our country into direct investment into the hospitality sector. Some of the world’s best global hospitality brands are based in this region and we are keen for more of them to look at the investment opportunities that Scotland has to offer.”
He adds: “He adds: “Scotland’s pre-eminence as a tourist destination is clear from the fact that we are outperforming many of the world’s most established tourist centres on occupancy rates. Given this excellent performance and the fact that demand for four and five star hotels has outstripped supply, Scotland has the potential to grow overall revenue from rooms and generate one of the highest returns in Europe, with increased investment into the luxury end of the market. This presents a great opportunity for long-term investors to benefit from Scotland’s quality assets.
Starting on 28th April, the annual the Arabian Hotel Investment Conference brings together senior business leaders from the Middle East and North Africa hotels industry to discuss future trends, issues and opportunities.
From 01st June 2012, Scotland will also become more accessible for those travelling from the Middle East when Emirates Airline launches its second daily non-stop flight from Dubai to Glasgow, introducing a first class service too. Emirates Airline has been flying to Glasgow since 2004 and the new flight increases capacity by 47% with an extra 199 seats each way. Scotland is therefore confident that it will continue to attract a larger share of Middle Eastern tourists. The United Nations World Tourism Organisation has projected that numbers travelling from this region will increase to 37 million by 2030, spending an estimated US$20 billion.
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Wednesday, Jun 19th
Last update06:05:34 PM GMT