The travel and tourism industry is rolling up its sleeves to serve a new entrant: the silver tourist.
The silver tourist believes in spending big on holidays and embraces traditional hotel concepts, while the millennial and Generation Z have shunned the cookie-cutter approach to hospitality and is looking towards the shared economy concepts in the lodging industry.
This shift in global economic powers from the western to Asian economies has placed the Middle East at the center of many fast-growing markets.
While most countries are gearing up to attract and retain the Asian traveler, destinations within the Middle East have already put wheels in motion by improving air connectivity with Asian destinations, easing visa facilities, focusing on introducing a variety of activities in the family and cultural sectors, providing world-class retail options, and using Asian celebrities for promotion.
Development of urban tourism is dependent on economic growth, technological growth and increased air connectivity.
With water scarcity looming, it is important for the region to develop policies around sustainability within the tourism industry.
A growing population requires around 35% more food, 40% more water and 50% more energy while we are already at the brink of resource scarcity.
The region is vulnerable to warmer summers and water scarcity as a response to climate change (Source UNWTO).
Technology For many years, corporate technology was far more advanced than anything available to the consumer.
The travel and tourism industry has witnessed the infiltration of digitization across the entire value chain.