(MENAFN) The GCC's hospitality industry is expected to continue its growth in the upcoming years, with room revenues expected to reach USD35.9 billion in 2018, up from USD22.8 billion last year, while average occupancy rates are expected to be in the range of 68 percent and 74 percent between 2013 and 2018, Arabian Business reported.
This growth in the sector will be driven by mega events, the development of infrastructure, including airports, and investment by governments in tourism, among other factors.
Due to this forecasted increase in demand, the sector is currently going through capacity expansion as well as increasing investment into infrastructure, with the industry expected to sustain this momentum with the support of the regional governments' initiatives in growing the sector, and the increase in international tourist arrivals, especially those from the Asian region.
Meanwhile, Saudi Arabia is expected to continue its dominance as the largest market in terms of revenues, followed by the UAE
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