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Despite stalled growth in China, Brazil and Russia, a wave of newly middle-class travelers from the BRICs and beyond will start visiting international destinations in the coming decades — dwarfing the numbers we’ve seen thus far.
The hospitality industry tends to dip and rise in rhythm with regional tensions, but these historic and religious destinations will continue to attract tourist despite a lack of stability.
Hotel performance has been robust until the summer in Israel, where hundreds of thousands of tourists flock to the beaches surrounding Tel Aviv. Continued growth is anticipated in subsequent years. However, recent violence likely will soften demand as travelers planning to visit for the holiday season will be watching for signals of stability and security.
Damascus, an ancient transit place in the region, has seen travel and tourism emerge as an important part of its economy. In 2010, tourism contribution in the GDP represented 6.2% but… is expected to continue to drop by an additional 20.4% by the end of 2012…according to the WTTC.
Jordan’s hotel market, which had experienced a RevPAR performance decline mainly during 2011, has since seen a recovering trend.