Europeans, who kind a main supply marketplace for vacationers in the sultanate, will continue to supply development with Oman expecting to see a 41 per cent improve in travellers from the area to attain 2mn in the period from 2018 to 2020.
For the final 3 years, the hotel market has been confronted with damaging forecasts of ever-declining revenues, top to a compounded 33 per cent decline in RevPAR (Revenue Per Available Room), according to Colliers International, that reports the state of the market each quarter for MENA area.
For the initial 3 months of 2018, Colliers’ MENA Hotel Forecasts showed a two per cent Year on Year (YoY) improve in RevPAR for the Muscat hotel market. While it forecast a nine per cent YoY improve in RevPAR for the subsequent 3 months and a complete 4 % YoY development for 2018.
According to Colliers’ report on GCC Source Market, for the subsequent 3 years, a forecast of 24.6mn EU residents will travel to the GCC. “This indicates a growth of 17 per cent and an additional 4mn European travellers compared to 2015-17,” it stated.
The preferred destinations for European residents will continue to be dominated by the UAE and Saudi Arabia with 81 per cent of European arrivals in GCC. “But the share to the UAE will reduce by six percentage points (pts), while the other GCC countries will improve their share by 1pt to 3pts except for Kuwait with a flat three per cent share. The highest growth will come from Oman with 41 per cent increase in travellers to reach more than 2mn in the period 2018 to 2020.”
According to Colliers’ report on China as supply marketplace for the GCC, 154mn Chinese are estimated to travel overseas in 2018. Countries about the globe are jostling to get a share of the Chinese travel marketplace and GCC is not far behind.
According to the report, two.5mn Chinese arrivals are anticipated to GCC by 2021, an improve of 21 per cent in annual development. “GCC countries are expected to receive more travellers in the coming years with Chinese tourist arrivals expected to grow annually in the UAE and Saudi Arabia by 20 per cent and 35 per cent respectively, followed by Oman with 12 per cent till 2021.”
Opening of new leisure attractions and company possibilities in the GCC and falling barriers for Chinese travellers to GCC will contribute to this trend, it mentioned. “The introduction of on-arrival visas for Chinese in Oman in May this year, the UAE in November 2016 and Bahrain in 2014 has made travel to these countries hassle-free for Chinese travellers.”
Information Source: Muscat Daily