Qatar gearing up its tourism infrastructure
Contributors are not employed, compensated or governed by TD, opinions and statements are from the contributor directly
Qatar has been deemed as one of the fastest growing markets in the Gulf, with business and leisure tourism on the ascent.
The country is developing its infrastructure as part of a US$65bn investment plan ahead of its hosting of the 2022 football World Cup. According to Qatar Tourism, the country is entering a sustained decade-long period of development and growth, with over 85,000 new hotel rooms set to bolster current inventory by 2022.
“Tourist arrivals in Qatar are expected to rise at a CAGR of 1.9% between now and 2022, and the government’s US$65bn commitment to infrastructure development has proved to be a major incentive for long term investment by leading hospitality providers,” said Mark Walsh, portfolio director, Reed Travel Exhibitions.
A second Four Seasons hotel is currently under development and budget brands are making an appearance with the Premier Inn chain debuting on the city outskirts later this year. Currently the luxury segment accounts for between 66 and 78% of supply while, mid-scale and economy supply is between 22 and 34%.
Hotel room capacity in Qatar is expected to grow at a CAGR of 9.1% over the next five years, hitting US$1.1bn by 2016 (up from US$0.6bn in 2011). Qatar Airways will also launch six new routes in H1 2013, growing its current network to 123 key destinations. There is also speedy development on the new US$14mn Doha metro network.
“Tourist arrivals expected to reach as a many as 3.7mn by 2022, Qatar will see a transition from a predominantly business-led visitor profile to a stronger business-leisure mix,” commented Walsh.