With a total investment estimated at almost $2 billion, the Abu Dhabi has set its sights firmly on becoming the cultural capital in the Middle East.
The Middle East have more than $41 billion in active leisure development projects. Tourism has become a significant focus for Middle East countries whose economies traditionally relied heavily on hydrocarbon exports as a means of diversification.
Saudi Arabia leads the Middle East Leisure development sector with 53% or $22 billion in active leisure developments. The UAE is in second place with $17 billion. In 2023, the leisure sector will create 185,000 jobs for labourers while constructing world-class hotels and theme parks.
Malawi has more than $12 billion of active projects. With the onset of the COVID-19 pandemic, PPP as a means to procure much-needed infrastructure has received a lot of impetus in Malawi.
LOCATED in the Horn of Africa, the small Republic of Djibouti covers a mere 23,200 square kilometres yet has a host of opportunities in projects worth nearly $600 million.
The tourism industry in Seychelles is slowly emerging from lockdowns with more than $240 million of new developments.
Cameroon has more than $10 billion of active projects, of which $3 billion is under construction. The population will increase by 27 per cent over the next decade, increasing demand for infrastructure.
REFERENCE: ABiQ.00012.2.2021 COUNTRY: Kenya BUDGET: $50-$55 million A new hotel and hotel residence development in Nairobi. The hotel will have 200 keys whilst the hotel residences will have 100 keys. The development includes a ballroom and F+ B facilities. The...
Saudi Arabia is aggressively working to diversify away from its reliance on hydrocarbons. There are more than $1.6 trillion of active projects in the kingdom, many of them megaprojects worth hundreds of billions.
Senegal has close to $20 billion of active projects. Excellent ICT infrastructure enables Senegal to position itself as a leader in the region with billions of foreign direct investment into critical sectors.
South Africa has a population of close to 60 million and has the second-largest economy in Africa. It has more than $190 billion of active projects, of which $81 billion is now under construction.
Significant population growth is driving the Egyptian government to promote investment in all sectors of the economy. Egypt is the largest construction market in Africa, with more than $350 billion of active projects.
ABiQ has managed to put forward projects seeking more than $280 million in funding. The projects selected are diverse and cover the agriculture, real estate, energy and renewable energy sectors.
Tourism in Africa is one of the most underdeveloped sectors globally. The African continent captures a mere 1 per cent of the global tourism industry and contributes 8.5 per cent to the continents GDP
Revenue generated by the hospitality industry accounts for almost 8 per cent of Morocco’s economy. With close to $3 billion of active hotel projects, Morocco understands the importance to remain relevant.
COVID-19 has decimated Egypt’s tourism industry. More than 11 million tourists visited in 2018. There are currently more than $6 billion of active projects in the tourism and leisure sector.
Thirty-five million tourists visited North Africa before the COVID-19 pandemic. Although the pandemic has wiped out most of North Africa’s tourism sector, there is still more than $6 billion of active Leisure & Entertainment projects.
Uganda’s population will grow by 30 percent over the next decade reaching 59.4 million from the current 45.7 million people. Yet, international tourism expenditure is among the lowest in Eastern Africa.
With many attractions such as Mount Kilimanjaro, Zanzibar, Serengeti National park and Ngorongoro crater, tourism only accounts for 1.3 percent of Tanzania’s GDP
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