Middle East Small Businesses Amp up Travel and Entertainment Spending
Photo Credit: Egypt and Saudi Arabia join the United Arab Emirates (UAE) in the top 10 destinations list in the report. Pexels / Pixabay
Skift Take
Mastercard's Travel Industry Trends 2023 report highlights the significance of personalized experiences and flexible payment options in meeting evolving consumer expectations. By prioritizing these factors, travel businesses can cultivate stronger customer relationships, boost loyalty, and thrive in a highly competitive market.
Middle East Travel Roundup
Get the latest news from the Middle East in one easy-to-digest newsletter.In the Middle East and Africa region, travel and entertainment spending by small businesses was up 49 percent in March 2023 versus a year ago, according to the Travel Industry Trends 2023 report by Mastercard Economics Institute. From March 2019, it is up 78 percent. Large businesses observed growth as well, but at smaller rates.
And for the first time in the history of the report, Egypt and Saudi Arabia joined the United Arab Emirates (UAE) in the top 10 destinations list. In 2023, a new dynamic emerged, with travelers exploring destinations closer to home, according to the report. Egypt and Saudi Arabia landed in seventh and eighth place, respectively even as UK, U.S., UAE and France remain the most popular international destinations for travelers leaving the Middle East.
Source: Mastercard Economics InstituteThe report also notes that consumers from the region, are increasingly embracing leisure travel and exploring new travel corridors worldwide. The r
