Over the past few decades, the Gulf Cooperation Council (GCC) countries have channeled resources to diversify their economies and reduce their reliance on oil. I have always emphasized the importance of tourism to the growth of countries in the region. The industry can evolve over time and advance economic goals.

The world is now recovering from the aftermath of Covid-19. According to a report released by the World Tourism Organization (WTO), tourism is one of the sectors worst hit by the pandemic, with international arrivals falling 84 percent between March and December 2020. The WTO estimates that economic losses in the industry could reach $ 4 trillion in 2021.

Ferrari World Abu Dhabi offers a range of attractions especially for children. Reem Mohammed / The National

A group kayaks in the eastern mangroves of Abu Dhabi. Courtesy TCA Abu Dhabi

We must also keep in mind that the past two years have been stressful for most, if not all, of people around the world. Many people would look for accessible travel and leisure experiences. There is an opportunity to deliver packages that meet this demand and lift the spirits of travelers who have been constrained by the restrictions and demands of the pandemic.

For travelers with limited time, virtual reality tourism options can be brought to the airports

Many countries in the GCC are on their way to resuming tourism as the UAE and Oman have started allowing travelers from all over the world, provided they are fully vaccinated. Hopefully other countries will follow suit. The Gulf States are uniquely placed and connect East and West. The region has made tremendous strides and has a rich culture and heritage, as well as numerous tourist attractions for all ages and interests.

One lesson from the pandemic is to be innovative and adapt quickly to changing times. In the tourism context, this could give rise to ideas that could contribute to the growth of the industry and pioneers of change.

Financial institutions in the Middle East need to harness the potential of the tourism industry and help service providers invest in resources that will subsequently contribute to growth. Travel and tourism industry players can form regional partnerships to tailor package deals for today’s traveler.

From the roses of Taif to stargazing on Moon Mountain, Saudi Arabia has many unique experiences to offer its visitors. Photo: Saudi Tourism Authority

The tech industry also benefits from partnerships with travel providers. The pandemic has brought more travelers to virtual reality experiences. Countries like Germany and the Maldives have started offering a range of virtual experiences to people unable to travel.

Now that a large percentage of the world’s population is vaccinated and open to international travel, tourists who want to see it all but have limited days or other restrictions can bring virtual reality options to airports and hotels. This is especially useful for business travelers and transit passengers who may not have enough time to visit sites in person.

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Working with actors outside the region, adopting best practices from around the world, and targeted marketing campaigns to promote experiences in the Gulf can all contribute to tourism.

Of course, we can’t ignore the region’s popularity as a travel destination Industry and specialist events, especially given the introduction of Expo 2020 Dubai. Companies from multiple countries from different sectors are gathering to work with others who are also suffering from the aftermath of the pandemic.

Visitors to the Oman Pavilion on day 10 of Expo 2020, Dubai.

Expo 2020 Dubai is home to 10 chefs from the GCC. These include (from left to right) Chef Nader Al Aisari from Oman and Mohammad Najem from Qatar. Victor Besa / The National

The topic of “Opportunity, Mobility and Sustainability” is very relevant for our time and offers the nations in the GCC and the wider Arab region a unique opportunity to show potential partners strengths and opportunities.

Inspired by our nation’s iconic frankincense tree, or the Luban in Arabic, the Oman Pavilion depicts the Sultanate’s socio-economic journey and invites guests to learn from and interact with Omanis who wish to share their history, achievements and aspirations.

I am also proud to announce that Investcorp, a leading global asset management company where I serve as Executive Chairman, is present at Expo 2020 Dubai and that there are opportunities for investors looking for asset managers with deep knowledge of the Arab world offers.

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I expect many fruitful conversations, ideas and business deals coming out of Expo 2020 Dubai. It would be an excellent and on-topic opportunity for attendees in our region to brainstorm with tourism industry representatives at GCC, network, and use this platform to learn more about best practices from around the world.

The recent past has brought challenges that have not been experienced before. However, leaders in our region have responded well to the pandemic and it is time for citizens, public and private organizations to work towards sustainable recovery.

The GCC has many jewels in its crown that make for an enriching tourism experience – from natural beauty and rich heritage to world-class resorts and attractions. When we pool our best resources, we can respond to market needs and develop solutions that stimulate growth in tourism and strengthen our economy.

Published: October 14, 2021, 8:30 a.m.

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