GCC capital investments in tourism infrastructure are expected to reach $56 billion by 2022, with the UAE ranked the most competitive in the region, driven by the development of multiple projects such as Hyperloop, according to new research.
Colliers International said lightening-speed, innovative Hyperloop train systems combined with the Haramain High Speed Railway, the development of airports in Saudi Arabia and airport expansion in the UAE, Bahrain, Oman and Kuwait will help to transform tourism infrastructure development in the GCC.
The research comes ahead of the Arabian Travel Market 2018 on April 22-25 where tourism infrastructure will feature heavily.
Hyperloop and future travel experiences will kick off proceedings on ATM’s Global Stage on April 22. Moderating the session, Richard Dean, a UAE-based business broadcaster and presenter will be joined by a host of high-profile panellists including Sir Tim Clark, president, Emirates Airline, Issam Kazim, CEO, Dubai Corporation for Tourism and Commerce Marketing (DCTCM), and Harj Dhaliwal, managing director Middle East and India Operations, Hyperloop One.
Virgin Hyperloop One, a futuristic transportation concept through which pods, propelled by magnets and solar, will move passengers and cargo at speeds of 1,200kph, is the most prominent tourism infrastructure development in the UAE at present.
Backed by Dubai-based DP World, Hyperloop One has the potential to transport approximately 3,400 people an hour, 128,000 people a day and 24 million people a year.