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ATM will take place at Dubai World Trade Centre from April 22 – 25 ATM will take place at Dubai World Trade Centre from April 22 – 25

UAE and Saudi Arabia Leading GCC Luxury Market

The UAE will continue to lead the GCC’s luxury hospitality segment to 2022, with 73 percent of existing luxury hotel stock and 61 percent of the region’s current luxury pipeline located in the country, according to data released prior to this year’s Arabian Travel Market (ATM).

Despite taking the lead position, the UAE will face strong competition from Saudi Arabia, which is expected to witness the most significant increase in luxury hotel supply to 2022, with an 18 percent CAGR from this year onwards, according to ATM.

Additional CAGRs across the GCC stand at 10 percent (UAE), 11 percent for Oman and Kuwait, and nine percent for Bahrain. The global luxury market, including travel, is set to increase at a 6.5 percent CAGR to 2022, reaching a total USD1.154 billion value.