Saudi Arabia’s overall economy shows positive growth in GDP until 2016. According to the 2012 Economic Impact Report Saudi Arabia published by the World Travel & Tourism Council (WTTC), the total contribution of travel and tourism sector to the country’s GDP in 2011 was US$43 billion, which equals 5.4%, with a forecasted growth of 3.7% in 2012 to US$44.6 billion.
The latest figures released by Business Monitor International (BMI) predict the number of visitors to KSA will increase to 15.8 million by 2014; approximately 2.8 million more than in 2010, which in turn has translated into a steady increase in demand within all hospitality related sectors, including the food and beverage industry.
The growth potential will be discussed and debated at The Hotel Show Saudi Arabia 2012 scheduled to take place Jeddah Center for Forums and Events between 17 – 19 November 2012. The event is held under the patronage of HRH Sultan bin Salman bin Abdulaziz Al-Saud, president and board chairman of Saudi Commission for Tourism and Antiquities [SCTA]. More than 100 companies from 24 countries will be participating at this inaugural show in KSA.