At the recent Mediterranean Resort and Hotel Real Estate Forum (MR&H), it was reported that the Mediterranean has cemented its position as the largest inbound tourism zone in the world. It accounts for approximately a third of international arrivals and roughly similar a share of the revenues. The report further states that total tourist arrivals are set to exceed the 420 million people mark by the year 2020. Tourism consulting done by the WTO (World Tourism Organization) states that till 2030, an annual 3.3% growth rate is to be exceeded setting the bar at a staggering 1.8 billion visitors by 2030. The numbers on the European side have been boosted by the geo-political frictions and fears of terrorism in the southern part of the Mediterranean where tourism accounts for 12 and 11 percent of GDP and workforce respectively. Spain has fortified itself as the most mature market on the European side aided by its strong digital marketing. This has enabled Spain and the broader region to market to niche segments depending on their choices. The region further needs to understand concepts such as new luxury and crowdfunding to further steal a march.


Uploaded Date:27 October 2017

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