The fast-pace economic growth and increasing trade ties between GCC and Africa makes the 2017 edition of Hotelier Summit Africa (North) an important event for GCC real estate industry fraternity.
GCC-Africa trade ties date back to antiquity. The two regions share a common spirit of trust and brotherhood. This deep relationship offers plenty of opportunities for business. Currently, a big chunk of the African exports go to GCC countries including raw construction materials, spices, and F&B products.
“The growing relations between GCC and Africa contribute to the development of their economies by forging economic cooperation based on mutual benefit and common goals. For years, both regions have served as a convenient communication hub and corridor between countries of GCC and Africa, and have established a strong partnership in many fields, such as transportation, hospitality, real estate, air transport and mining.
Given the rapid growth, there is a huge scope for economic and investment cooperation between the GCC and Africa at the 13th Edition Hotelier Summit Africa (North),” said Ravi Kumar Chandran, Director of IDE.
It is interesting to note that the total merchandise trade between Africa and the GCC stood at $5.6 billion in 2005. As of 2014, that number jumped to $17.5 billion, representing a threefold increase within a decade. This shows a clear trend towards deepening economic relations between Africa and UAE.
“The future looks bright. Individuals from the GCC who attend the 2017 edition of Hotelier Summit Africa (North) can expect the trade ties to accelerate given the high degree of enthusiasm and response from both the regions.
The latest reforms in African countries including ease to set up business, elimination for trade barriers, increased flexibility of labour markets and improved regulatory structure for industrialisation among many others are very attractive for GCC individuals looking to set up their businesses in the region. While there is potential for greater trade and investments, there are tremendous opportunities to scale up investments in the hotel and real estate industry in several countries in Africa,” said Ravi Kumar Chandran.
The 2017 edition of Hotelier Summit Africa (North) will provide a seamless platform for hoteliers, developers and investors across Africa to address opportunities and challenges related to real estate sector in general and hospitality sector in particular.
From the initial appraisal of a potential development, to sourcing the funds to develop the hotel, to construction and development, the Summit will underline the robust growth of the hospitality and real estate sector in North Africa.
“The Hotelier Summit Africa (North) is perfect for all GCC stakeholders who look to create business opportunities in the hospitality and real estate sector in Africa. The Summit will facilitate discussion and partnerships between the two regions. We encourage and look forward to strong participation from the GCC companies at the Summit since there is plenty on offer in terms of trade and investments.” concluded Ravi Kumar Chandran.
If you would like to know more about the Summit, visit the website: https://www.hospitalityseries.com/africa/2017/north/index.php.
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