Jeddah, February 15, 2024, The Arab Tourism Organization (ATO) has entered into a significant strategic partnership with International Strategic Management (ISM), a company headquartered in Detroit, Michigan, United States of America. The signing ceremony took place at the ATO's main headquarters in Jeddah, in the presence of Dr. Bandar bin Fahd Al Fahid, President of the ATO, and Dr. Faris Alami, CEO of ISM.
This collaboration marks an extension of the ATO's ongoing endeavors to foster the development and advancement of the tourism industry across the Arab world, aiming to enhance competitiveness within the tourism and travel sector. The partnership is geared towards fostering growth and innovation within the tourism landscape of Arab countries. Leveraging its extensive expertise and specialized professionals, ISM will work closely with the ATO to realize its objectives and strategies, aligning them with the Arab League's Sustainable Development Plan 2030.
The ATO has underscored the significance of this partnership as a genuine opportunity to amplify the role of Arab countries in enhancing their tourist destinations to achieve sustainable development. Projections by the organization suggest a substantial increase in the contribution of the travel and tourism sector to the worldwide gross domestic product (GDP), expected to reach 15%, compared to the pre-2019 level of around 10%. Moreover, the ATO anticipates an annual growth rate of 3.4% in revenues from travel and tourism until 2027, surpassing a trillion dollars in revenue. Additionally, it forecasts a significant expansion in the global tourism sector job market, reaching 430 million jobs by 2030, representing a remarkable increase of over 30% compared to 2023.
