MAY-JULY 2013 VOLUME 2 ISSUE 5
RESOURCES HARNESSING THE POWER OF CUSTOMER FEEDBACK
MEMBER PROFILE MONDO HOSPITALITY
SPECIAL REPORT
GLOBAL HOTEL BRANDS’ EXPANSION INTO THE REGION
TOURISM IN THE MIDDLE EAST A VISION OF THE FUTURE
May-July 2013, Vol. 2 Issue 5 ISSN 2304-3989 14
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AED 15, GCC $5, EUROPE €3 REST OF THE WORLD $6
Image: Doha Tower
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INSIDE
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EVENTS ABC expands its reach as it welcomes two new prominent business organisations – the Tunisian Business Council and the Polish Business Group. Plus, a preview of the Club’s next important gathering – The 2nd Annual Banking and Finance Event – which provides a comprehensive discussion of the opportunities and challenges confronting the sector in the Middle East.
MARKET INTELLIGENCE We present a round-up of the most significant stories in and around the region, giving you the latest business news that matters; including a special focus on relevant report for the SME sector.
MEMBER PROFILE Mondo Hospitality, an acknowledged market leader in the management of distinctive serviced residences and hotels, operates and manages an expanding collection of distinctive properties – from business hotels to serviced hotel apartments in the most exquisite locations in London and Dubai.
SPECIAL REPORT The Middle East and Africa is attracting the biggest global hotel brands into the region. More than 100 hotels are scheduled to open this year, providing a boost to the region’s tourism and hospitality sector. Build it and they will come, as they say.
INDUSTRY FOCUS A preview of what is to come for the tourism sector in the Middle East - across the region, countries, states and cities are embarking on an unparalleled program of investment and development to increase capacity, improve infrastructures and grow tourist numbers and revenues. Current estimates suggest that over the next 20 years, upwards of $3 trillion is going directly into leisure and tourism and indirectly into the supporting infrastructure.
RESOURCE Harness the power of customer feedback – to keep existing customers and win over disgruntled ones.
BEST PRACTICE Find out some of the more successful strategies for driving footfall during downtimes.
LIFESTYLE Travel in style and comfort and stay in the world’s most expensive suites. See which ones made the list.
MAY-JULY
Did you know?
Russian shoppers splashed out a record $82.2 million on Visa card purchases alone during this year’s Dubai Shopping Festival, more than any other nationality. Find out more in thebusiness year Dubai 2013.
Bumper years, growth years, recordbreaking years, challenging years. The key players and their stories are all in thebusiness year.
www.thebusinessyear.com
FOREWORD
There is strength in numbers. It is for this reason that we are constantly enhancing our partnerships and reach. This month, we welcome representatives from the Tunisian Business Council and the Polish Business Group to our ever growing network of members. These are significant partnerships that will not only enhance the reach of the Arab Business Club, but will also strengthen its position as a leading platform for establishing meaningful and fruitful business relationships. This is an exciting issue as it deals with the hospitality sector, one of the brightest spots in the region’s economic landscape. It continues to be a well-spring of good news, despite the crisis and security issues; and notwithstanding the Arab spring that has also swept through the region. The vibrance of the tourism industry brings with it spillover benefits to other sectors; and brings not just tourists who spend, but also investors bringing businesses with them. Hamdan Mohamed Al Murshidi President and Publisher Hope you enjoy this issue.
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@HamdanMurshidi
W T International General Trading
Tel: +971 4 358 3000 | Fax: +971 4 358 3003 | Email: info@wt.ae | Website: www.wt.ae
EDITORIAL
Build it and they will come This has been for the most part the experience of the hospitality industry in the region. There are certainly enough tourist attractions to warrant a visit, so many natural and man-made wonders for the whole world to see and enjoy. This necessitates the need for the right infrastructure to accommodate the growing number of tourists and the many more who are expected to come in the coming years. It comes as no surprise then that the biggest hotel groups are expanding their presence, in anticipation of the continuing tourism boom. In this issue, we look into the trends, challenges, and opportunities confronting the tourism sector now; and what beckons for industry stakeholders into the future. Our industry focus on the tourism sector includes a special report on which global hotel brands are implementing their expansion plans in the Middle East and Africa. On the lighter side of things, we give you a list of the most expensive hotel suites in the world, a useful reference for your next business or leisure trip.
President & Publisher Hamdan Mohamed Al Murshidi hamdan@arabbusinessclub.org Managing Editor Eman Ahamed editor@arabbusinessclub.org Contributors Dr. Gilles Feiler Nazar Younis, PhD Art Director Arab Business Club Design Department design@arabbusinessclub.org Sales & Marketing business@arabbusinessclub.org Subscriptions Annabelle Crisostomo sub@arabbusinessclub.org
Subscriptions Prices
GCC US $30 REST OF THE WORLD US $60 eMAGAZINE US $12
We continue to provide tools to support your business. This month, we have a story on how you can leverage customer feedback; and how to drive footfall during the off peak periods. We hope you find reading this issue worth your while. Enjoy. Published By
Arab Business Club Delaware, USA
Eman Ahamed
Distributed by:
Managing Editor
Northern Star Publishing & Distribution OfďŹ ce No. 111, Pyramid Centre Oud Metha, P.O. Box 2188 Tel: +971 4 3583000 Fax: +971 4 3583003 www.arabbusinessclub.org @Arab_Business www.facebook.com/Arabbusinessclub
Disclaimer
All rights reserved. The opinions and views expressed in this publication are not necessarily those of Arab Business Club. Readers are requested to seek specialist advice before acting on information contained in this publication, which is provided for general use and may not be appropriate for the readers’ particular circumstances. While every effort is taken to ensure accuracy of the information contained in this publication, the publisher is not liable for any errors and / or omissions contained in this publication.
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NEWS
Arab Business Club 2nd Annual Banking and Finance Event
T
he 2nd Banking and Finance Event will bring together experts who will share their insights on Banking, Finance, and Investments in Banks and Stock Markets for Arab Business Club members and guests. The programme for the 2013 Banking and Finance Event is designed to focus on important current issues in banking and finance, offering a comprehensive discussion of challenges, opportunities and the 2013 outlook for the Banking and Financial services industry. Attendees will have the opportunity to interact with banking leaders from different financial institutions directly and benefit from networking opportunities that can enhance trading opportunities and build fruitful relations; as well as share experiences and keep up-to-date with the latest business opportunities and technology trends in banking and finance. The event will be attended by members of the Arab Business Club and other C-Level executives, strictly by invitation. They will include CEOs, managers, business owners and top management executives from regional banks and financial institutions. Date:
17th of June, 2013
Venue:
Dubai, UAE
Dress Code:
Business or National Attire
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Expanding ABC’s reach
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he Arab Business Club welcomes two new members to the club, with representatives from the Tunisian Business Council (TBC) and the Polish Business Group (PBG), thus
expanding the club’s network into two very established and active business organisations. On the other hand, both the TBC and PBG will similarly benefit from the immense business and
networking opportunities provided by ABC to its members, through its various programmes and initiatives such as the themed events, member visits and promotional activities through the magazine and social media.
Mr. Hamdan Mohamed Al Murshidi and Dr. Ahmed Amer, Vice Chairman of Polish Business Group – UAE
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NEWS Mr. Hamdan Mohamed Al Murshidi with Mr. Mohamed Bin Khalifa Damak, Chairman of Tunisian Business Council, Abu Dhabi
The mission of the TBC is to provide a forum in which Tunisian business executives and other business executives with Tunisian interests may identify, discuss and pursue common interests regarding their activities. The objectives of the TBC are to support commercial and personal relations between its members and to promote economic, social and cultural relations between the UAE and Tunisia.
Polish Business Group in the United Arab Emirates was formed in March 2006 by the initiative of the Polish Embassy and the Polish community living in the UAE with the aim of promoting Polish companies, brands, work ethics as well as the economic & tourist values and the Polish culture in the UAE. PBG members represent a wide range of professionals, businessmen, and people of culture and art, who by their work, interests, and the desire to expand their products into new markets, chose the United Arab Emirates as a destination, which undeniably allows meeting the desired development objectives. The inspiration of PBG, which
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is on one hand to share valuable experience of its members, who conquered UAE marketplace, is to present a fair and honest realities of the market, bringing together business partners, organizing prestigious events aimed at strengthening cooperation between countries and promotional activities on behalf of Polish companies interested in entering the UAE market. PBG is also a communication platform between the representations of the governments of Poland and the UAE. We work closely with the Polish Embassy in Abu Dhabi, UAE Chamber of Commerce and Industry as well as many other organizations in the UAE and Poland.
Explore new frontiers of learning Explore new frontiers of learning Explore new frontiers of learning
The world is your classroom. The world is your classroom. The world is your classroom.
MBBS - Bachelor of Medicine & Bachelor of Surgery | BPT - Bachelor of Physical Therapy MBBS - Bachelor of Medicine & Bachelor of Surgery | BPT - Bachelor of Physical Therapy PharmofDMedicine - Doctor of Pharmacyof|Surgery DMD - Doctor Dental Medicine MBBS - Bachelor & Bachelor | BPT -ofBachelor of Physical Therapy Pharm D - Doctor of Pharmacy | DMD - Doctor of Dental Medicine Masters Program (2 years)|-DMD MS CP (Clinical Pharm D - Doctor of Pharmacy - Doctor of Pathology) Dental Medicine Masters Program (2 years) - MS CP (Clinical Pathology) MS ToxProgram (Toxicology) | MPH - Master in Public Health Masters (2 years) - MS CP (Clinical Pathology) MS Tox (Toxicology) | MPH - Master in Public Health MSTox HRB - Masters in Human Reproductive Biology MS (Toxicology) | MPH - Master in Public Health MS HRB - Masters in Human Reproductive Biology Post Graduate Diploma Program (1 year) DipTox Diploma in Toxicologyv MS HRB - Masters in Human Reproductive Biology Post Graduate Diploma Program (1 year) - DipTox - Diploma in Toxicologyv Post Graduate Diploma Program (1 year) - DipTox - Diploma in Toxicologyv CENTER FOR CONTINUING EDUCATION AND COMMUNITY OUTREACH CENTER FOR CONTINUING EDUCATION AND COMMUNITY OUTREACH Diploma (10 months) CENTER FOR CONTINUING EDUCATION AND COMMUNITY OUTREACH Diploma months) • Dental (10 Assisting • Medical Assisting - Laboratory • Medical Assisting - Administration • Nurse Assisting • Medical Assisting - Clinical
Diploma months)Medical Assisting - Laboratory • Medical Assisting - Administration • Nurse Assisting • Medical Assisting - Clinical • Physical Dental (10 Assisting • Therapy•Assisting • Pharmacy Assisting • Physical Dental Assisting Medical Assisting - Laboratory • Therapy•Assisting • Pharmacy Assisting • Medical Assisting - Administration • Nurse Assisting • Medical Assisting - Clinical CERTIFICATE COURSE (SHORT TERM) Assisting • Physical Therapy Assisting • Pharmacy CERTIFICATE (SHORT•TERM) • Introduction COURSE to Health Careers Certificate In Medical Terminology • Clinical Nutrition • Medical Billing and Coding • Medical Insurance Billing CERTIFICATE (SHORT•TERM) • Phlebotomy Introduction COURSE to Health office Careers Certificate•InNutrition Medicalfor Terminology ClinicalPerformance Nutrition • Medical and Coding • Medical Billing • • Dental Management Sports and•Human • LegalBilling Fundamentals of Health CareInsurance and Public Health • to Health office Careers • Certificate•InNutrition Medical Terminology •Human ClinicalPerformance Nutrition • Medical and Coding Health • Medical Insurance Billing • Introduction Phlebotomy • Dental Management Sports andHealthcare LegalBilling Fundamentals Care and Public Health • ECG and Rhythm Interpretation • Infection Control forfor Non-clinical Workers • • Geriatrics Health Care •ofPharmacy Review • ECG Phlebotomy • Dental office Management • Nutrition for Sports andHealthcare Human Performance • Legal Fundamentals Health Care and Public Health • and Rhythm Interpretation • Infection forTechnician Non-clinical Workers Geriatrics Health Care Professionals •ofPharmacy Review • Pharmaceutical Sales and Marketing • ECGControl Monitor • Basic Surgical Skills ••Basic Arabic for Health • Pharmaceutical ECG and Rhythm Interpretation • Infection Control forTechnician Non-clinical Healthcare Workers • Geriatrics Health Care • Pharmacy Review • Sales and • ECG Monitor • of Basic WEEKEND WORKSHOPS onMarketing Basic Surgical Skills & Fundamentals EKGSurgical Skills • Basic Arabic for Health Professionals • Pharmaceutical Sales and • ECG Monitor Technician • of Basic WEEKEND WORKSHOPS onMarketing Basic Surgical Skills & Fundamentals EKGSurgical Skills • Basic Arabic for Health Professionals WEEKEND WORKSHOPS on Basic Surgical Skills & Fundamentals of EKG
Learn from the world Learn from the world Learn from the world
P. O. Box: 4184, Ajman, United Arab Emirates, Tel: +971 6 7431333, Fax: +971 6 7431222 P. O. Box: 4184, Ajman, Arab Emirates, Tel: +971 6 7431333, Fax: +971 6 7431222 E-mail:United admissions@gmu.ac.ae Web: www.gmu.ac.ae P. O. Box: 4184, Ajman, Arab Emirates, Tel: +971 6 7431333, Fax: +971 6 7431222 E-mail:United admissions@gmu.ac.ae Web: www.gmu.ac.ae E-mail: admissions@gmu.ac.ae Web: www.gmu.ac.ae COLLEGE OF MEDICINE | COLLEGE OF ALLIED HEALTH SCIENCES COLLEGE OF MEDICINE | COLLEGE OF ALLIED HEALTH SCIENCES COLLEGE OF PHARMACY | COLLEGE OF DENTISTRY | COLLEGE OFSCIENCES GRADUATE STUDIES COLLEGE OF MEDICINE | COLLEGE OF ALLIED HEALTH COLLEGE OF PHARMACY | COLLEGE OF DENTISTRY | COLLEGE OF GRADUATE STUDIES CENTER FOR CONTINUING EDUCATION AND COMMUNITY OUTREACH STUDIES COLLEGECENTER OF PHARMACY | COLLEGE EDUCATION OF DENTISTRY | COLLEGE OF GRADUATE FOR CONTINUING AND COMMUNITY OUTREACH CENTER FOR CONTINUING EDUCATION AND COMMUNITY OUTREACH
EVENTS Indonesia hosts Business
Luncheon
T
he Indonesia Investment Coordinating Board (BKPM) and the Embassy of the Republic of Indonesia in cooperation with Abu Dhabi Chamber of Commerce & Industry (ADCCI), Abu Dhabi Department of Economic Development (ADDED) and the support of Arab Business Club (ABC) has organised an Indonesia Business Luncheon last month at the Ritz Carlton Abu Dhabi, Grand Canal. The event is aimed at promoting Indonesia as a promising and leading investment destination in Asia by providing latest update on government policy and investment opportunities from primary sector such as agriculture, energy, mining all the way to processing industry, infrastructure, tourism and services. It also provides opportunity to gain business partnership and consultation
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from Indonesian key authorities both from central and local government. Indonesia Business Luncheon was opened by Ambassador of The Republic of Indonesia, H.E. Mr. Salman Al Farisi and continued with panel discussions by senior officials from Indonesia Investment Coordinating Board (BKPM), Ministry of Industry, Ministry of Agriculture, and Regional Government of Aceh, Southeast Sulawesi, and Riau Province. “When we talk about Asia, we often mention two growing zones - China and India. Yet, the one that should not be forgotten is Indonesia, a country with estimated population of 240 million people. Indonesia is the centre
of the economic growth in the ASEAN region. Indonesia’s economy covers 48% of the ASEAN economy and its population is 42 % of the total ASEAN population. This condition has made Indonesia as a country that should not be missed by investors who want to do business in Southeast Asia,” said Deputy Chairman of Investment Promotion, Dr. Himawan Hariyoga. Currently, the economic performance of Indonesia is outstanding and it is expected to grow between 6.3% 6.6% by the end of this year. The growth in 2012 was 6.2% making Indonesia the second highest in terms of growth among the G20 members after China. BKPM recorded US$ 34.8 billion realization of domestic
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EVENTS
(from left) Mr. Abbas Al Hajj, Board of Director, Arab Business Club, CEO, The Hospitality World Fze, H.E. Salman Al Farisi, Ambassador, Embassy of the Republic of Indonesia in the UAE, Mr. Hamdan Mohamed Al Murshidi, President and Chairman of the Board, Arab Business Club, Mr. Cahyo Purnomo, Head of Indonesia Investment Promotion Centre (IIPC) of Abu Dhabi (from left) Mr. Abbas Al Hajj, Board of Director, Arab Business Club, CEO, The Hospitality World FZE, Mr. Hamdan Mohamed Al Murshidi, President and Chairman of the Board, Arab Business Club, Ms. Gessy Gitapuri Wulansari, Corporate/Premium member, Arab Business Club, Manager, Sales-UAE, The Leading Hotels of the World, Ltd., Mr. Arnaud Giacometti, Director of Sales, The Ritz-Carlton Hotel Company Llc
(from left) Mr. Abbas Al Hajj, Board of Director, Arab Business Club, CEO, The Hospitality World Fze, H.E. Salman Al Farisi, Ambassador, Embassy of the Republic of Indonesia in the UAE, H.E. Behar Bejko, Ambassador, Embassy of the Republic of Albania in the UAE
direct investment (PMDN) and foreign direct investment (PMA) for the period of January to December 2012. It is 110.5% of the 2012 target and it is increased by 24.6% from the same period last year. The latest investment realization figure in Q1 2013 ranked UAE, a new record high, among top twenty source of investment country in Indonesia with investment value of about US$ 12,5 million. UAE investment in Indonesia last year was recorded at about US$ 32,35 million. “This number although, a four fold increase compared to a year 16 arabbusinessclub.org MAY-JULY 2013
earlier, still far from our expectation as we view UAE an increasingly important source of country for investment in Indonesia”, stressed Dr Himawan. These series of events, beginning from Indonesia Business Luncheon 2013 in Abu Dhabi and Annual Investment Meeting 2013 in Dubai are BKPM’s commitment to pursue strategic partnerships between Indonesia and the UEA and it is expected that the development of investment between both countries will grow stronger as the cooperation becomes tighter.
interview
Growth of
Islamic finance ABC magazine speaks to Sharjah Islamic Bank’s Deputy CEO Ahmed Saad Ibrahim on his views about the growing Islamic finance sector, and its prospects for the future.
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shariaa boards of different banks on many instruments/products and the delays in obtaining shariaa approvals. Despite the withdrawal of Western financial institutions from the Islamic finance industry, it continues to grow? To what do you attribute this growth? How sustainable is it? The Western financial institutions’ role was very important but they were Islamic windows. This resulted in that these windows did not grow at the same pace as Islamic banks. There is a true demand for Islamic offerings and that is the reason for these high growth rates which are sustainable, in my opinion. Can you give us an overview of the Islamic finance market in the region, and globally? The Islamic banking success story continues to be positive as they grow 50% faster than the overall banking sector. Islamic banks total assets showed an average annual growth of 19% over the past four years. Saudi Arabia, Malaysia, Qatar, UAE, Turkey and Indonesia remain the largest Islamic banking markets. What is the growth rate in the last two to three years? What kind of growth can we expect in the next five years? Customer receivables grew by 3% in 2012 and 8% in 2011 while customer deposits grew by 6% in 2012 and remained stable in 2011. Sharjah Islamic bank’s net profits reached 272m in 2012 growing by 8% in comparison to 2011. SIB balance sheet is expected to grow by around 15% per annum in the next three years. What do you think are the challenges to the growth of Islamic finance? The growth of Islamic finance will be highly correlated to the economic and political stability of the financial markets where they operate, just like any other financial institution. In addition, Islamic finance has its own unique challenges such as mismatch between assets and liabilities, due to long term finance versus short term deposits, and the higher cost to income ratios than those of traditional banks. This will impact their profitability and sustaining growth will require most Islamic banks to achieve greater efficiency across the value chain. Another challenge is the variations in the fatwas of the
Experts say Islamic finance is a totally different value proposition. It cannot be treated as an ordinary product or service. Your thoughts? Islamic banking is performing best in countries with the highest concentration of Muslims because of faith. The fundamentals of its value proposition are attractive to other customers, too. For example, credit card customers can feel exploited by the rates and penalties levied by conventional banks while in Islamic banks there is total transparency in all underlying fees and customers feel safer and less exploited. The profit rates are based on a partnership formula which is appealing to customers. The sukuk market seems to be another promising growth are for Islamic finance. What are its genuine prospects for success? And what will make it more appealing to businesses? The market for Sukuk has quite a strong potential and positive prospects. • Approximately $46 billion worth of Sukuk was issued in 2012 and that amount is expected to be higher in 2013. • Bear in mind also that Sukuk demand has been strong and issues of Sukuk by various institutions have often been oversubscribed; clearly indicating that demand is higher than supply. • Sukuk rates have also come down compared to previous years; making it more appealing to corporates and sovereign countries alike.
Leadership driven by Innovation We at SIB put the customer at the “center of everything we do” or in better words our products and services’ value proposition communicate with the core values of the customer, from finance amount and pricing to application procedures and turnaround times. Our growth strategy is built on a single word: Innovation… We highly believe in innovation as the way to grow and lead. Innovation in the products and services we launch and innovation in the way we communicate these products and services. What are some of your unique product/ service offers? In fact we consider each and every product and service as unique offering, if not from the perspective of the product (since other banks may have the same) then from the perspective of the way we serve them to our customers. Leveraging on our conventional experience to provide innovation banking solutions, we have ‘exclusive’ products / services which were the ‘first to be launched’ in the market such as: SIB credit cards: one of the first Sharia’a compliant credit card to be launched in the UAE market, SIB credit cards have the lowest cost in the market today not only compared with conventional but with other Islamic cards as well. COOP Card: a cobranded prepaid card with Sharjah Cooperative Society (Shj. Coop) where customers get as high as 17% as profits on their purchases at Shj. Coop (as of 2013 profit distribution). COOP is the first, the only and the highest rewarding card in the region today. Red Carpet: it’s a benefits-package targeting employees of Gov., Semi-Gov. and largest Sharjah based large groups, offering them the lowest profit rates in addition to a long list of tangible benefits. 0% Hajj & Umrah: SIB made the dream of many people who opt for Hajj and Umrah to come through, without any additional fees or charges. SIB was the first to launch such product and now we can see other Islamic banks follow suit.
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market intelligence China Sourcing Fair plays key role in MENA's trade with China Trade volume between the UAE and China has grown by 35% annually in the past decade to $35bn in 2011 and is poised to increase as more business opportunities are initiated through the China Sourcing Fair in Dubai which ended recently. Now on its 7th year, the China Sourcing Fair has established itself as a successful and productive sourcing platform for global buyers and suppliers seeking to establish business relationships with Chinese businesses. China is the biggest exporter to the GCC,
NASDAQ Dubai welcomes the listing of Sharjah Islamic Bank Sukuk
Mohammed Abdulla, Chief Executive of Sharjah Islamic Bank rang the opening bell at Dubai Financial Market (DFM) today to celebrate the listing of a Sukuk issued by Sharjah Islamic Bank (SIB) on NASDAQ Dubai, the Middle East’s international financial exchange, in the presence of His Excellency Mohammed Abdulla Al Gergawi, Chairman of The Executive Office of His Highness Sheikh Mohammed Bin Rashid Al Maktoum, UAE Vice President, Prime Minister and Ruler of Dubai, and Chairman of the Higher Committee for development of the Islamic Economy sector, Essa Kazim, Managing Director 20 arabbusinessclub.org MAY-JULY 2013
and Chief Executive of Dubai Financial Market (DFM) and Secretary General of the Committee, Ahmad Muhammad Al Shamsi, Vice Chairman of Sharjah Islamic Bank and Abdul Wahed Al Fahim, Chairman of NASDAQ Dubai. The listing of SIB’s 500 million dollar Sukuk provides further support for the campaign to promote the ‘Dubai the Center of Sukuk’ initiative launched in January 2013 by His Highness Sheikh Mohammed Bin Rashid Al Maktoum, UAE Vice President, Prime Minster and Ruler of Dubai, in line with His Highness’s vision to position the
and accounted for 15% of UAE imports in 2010. The China Sourcing Fair has become the largest China-products exhibition in the MENA region, catering to this demand, and will take place at the Dubai International Convention & Exhibition Centre. For the past few years, numerous importers, traders, and other volume buyers from MENA have come to rely on Dubai’s China Sourcing Fair as their primary means to meet China-based suppliers without having to physically travel to Asia. Emirate as the Capital of Islamic Economy globally. SIB’s listing brings the nominal value of Sukuk listed on Dubai exchanges to 12.125 billion dollars, the third largest total in the world. This is the fifth listing lifting the total value of Sukuk listings this year to 4.250 billion dollars since the launch of the initiative. SIB’s Sukuk was more than 6 times oversubscribed with 53% of the Sukuk allocated to MENA based investors, 30% allocated to investors based in Asia and 17% to investors based in Europe. H.E. Ahmad Muhammad Al Shamsi, Vice Chairman of Sharjah Islamic Bank said: “As Sharjah’s leading Islamic financial institution, we are delighted to choose NASDAQ Dubai for our listing as the exchange continues to expand its focus on the Sharia’a capital markets.” Essa Kazim, Managing Director and Chief Executive of Dubai Financial Market (DFM) and Secretary General of the Higher Committee said: “As Islamic solutions play an expanding role in Dubai’s capital markets structure, the Emirate will continue to expand its Shari’a listings”.
World’s leading hotel groups announce major deals at AHIC 2013 Over 600 delegates from across the world attended the ninth annual Arabian Hotel Investment Conference (AHIC) held at the Madinat Jumeirah in Dubai, UAE. AHIC saw significant announcements from a number of leading hotel groups, including, Wyndham Hotels, the world’s largest hotel company, which said it plans to develop its first property in the UAE. The Wyndham Dubai Marina is expected to open within the next three years with 497 guest rooms, including 251 luxurious suites, and The First Royal Tulip in the MENA region. Starwood Hotels & Resorts Worldwide announced the debut of its Four Points by Sheraton brand in Saudi Arabia with the new Four Points by Sheraton Riyadh Khaldia. The hotel will feature 376 guest rooms including 138 suites. Starwood also confirmed that the Grand Hills Hotel & Spa in Broumana, an upscale mountain resort town near Beirut in Lebanon, will
join its iconic Luxury Collection portfolio when it opens in 2015 following a complete renovation. Hilton Worldwide confirmed that it is expanding its presence across the Middle East with the addition of Bahrain to its portfolio of operating countries. The news comes following the signing of a management agreement with Tashyeed Properties Company to open the new DoubleTree Suites by Hilton Bahrain in late 2015. The 350 room hotel is a five star property and will be located in Bahrain’s capital Manama in the upscale residential area of Juffair. These announcements supports comments made by John Worsley, Chairman of Bench Events, who told AHIC delegates, that there will be 150 hotels opening this year in the GCC and 450 in the pipeline so we are going to have a lot of construction in the sector in the next few years.
The various hotel deals and project announcements made at AHIC appear well-timed given the latest findings in Visa’s Global Travel Intentions Study 2013. According to the report, which surveyed 12,631 travellers from 25 countries, the average global travel budget of US$2,390 per trip is set to increase to US$2,501. Speaking at AHIC about the need for greater collaboration between international airlines, Paul Griffiths, Chief Executive of Dubai Airports, said: “There are huge opportunities where we can get huge efficiencies by working together. Other industries have worked on supply chain integration and improved efficiency. There are, of course, certain things about travel you can’t change; airliners have to take with them entire fuel load they use in their journey. But the fuel efficient airliners we are seeing over Dubai are carrying a much higher passenger load. And we can see that aircraft manufacturers are making major inroads into this issue.” In a separate session, Gary Chapman, President of Emirates Group Services and DNATA, spoke about ways to radically cut carbon emissions. He told delegates: “The biggest issue is the overflying and air traffic control issues. Governments have the power to improve that by 5-10 per cent if they could replace the archaic air traffic control systems they have at present.” Participants at AHIC 2013 include: Carlson Rezidor Hotel Group, IHG, Jumeirah Group, Corinthia Hotels, Hilton Worldwide, IFA Hotel Investments, Marriott International, SMIT, Starwood Hotels and Resorts Worldwide, Wyndham Worldwide, ACCOR, Aecom, Argentina National Institute of Tourism Promotion, Citymax Hotels, Digivalet, Ernst & Young, Fairmont Hotel & Resorts, Golden Tulip Hotels MENA, HVS, JA Resorts & Hotels, Jones Lang LaSalle, Kenya Tourist Development Corporation, Melia Hotels International, Minor International PCL, Moroccan Agency for Tourism Development, Orient Express Hotels, Premier Inn, Quadriga, Raffles Hotels & Resorts, Saudi Commission for Tourism & Antiquities, STR Global, Turnkey Ventures and WATG.
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market intelligence
MEED announces GCC winners of quality awards for projects
Council for King Abdulaziz Endowment for the two holy mosques / The Mecca al-Mukkarramah Endowment Project (entered by Saudi Binladin Group) in the GCC Social Project of the Year category; and the Ma’aden Ammonia Plant Project owned by Ma’aden (entered by Samsung Engineering), a joint winner in the GCC Mashreq Oil & Gas Project of the Year category along with Oman’s Octal Petrochemicals Expansion Phase Project owned by OCTAL Petrochemicals (entered by Faithful+Gould). Oman’s other major winner was the Sewage Treatment Plant of Duqm Crowne Plaza Project owned by OMRAN won the GCC Water and Water Reuse Project of the Year award.
MEED announces GCC winners of quality awards for projects The Gulf region’s highest quality projects have been revealed at the recently concluded 2013 MEED Quality Awards for Projects, in association with Ernst & Young, the only GCC-wide awards programme that recognises completed projects. The UAE led the region with five awardwinning projects, with the Kingdom of Saudi Arabia and Oman claiming two regional awards; and Bahrain, Kuwait and Qatar each receiving one. “This year’s edition of the awards programme received a higher number of entries, firmly establishing it as the most sought-after recognition initiative in the projects industry. This signifies the important value placed by stakeholders on achieving quality in their projects not just by aspiring for excellence in design, engineering and construction; but also in terms of their projects’ contribution to the economy, society and the environment. For their outstanding achievements, we salute all the winners,” said Edmund O’Sullivan, chairman of the judging panel of the MEED Quality Awards for Projects, in 22 arabbusinessclub.org MAY-JULY 2013
association with Ernst & Young. Dubai International Airport – Concourse A Project from Dubai Aviation Engineering Projects Corporation received the evening’s highest honour – the MEED Quality Project of the Year, in association with Ernst & Young. It also won the GCC Transport Project of the Year Award. Other winning projects from the Emirates include the Ducab HV and EHV Facility Project owned by Ducab HV (entered by Hyder Consulting Middle East) which won the GCC Industrial Project of the Year award; the Siemens Head Office Project owned by the Abu Dhabi Future Energy Company (entered by Al Fara’a Contracting Group) which triumphed in the GCC Lafarge Sustainable Project of the Year category; and the UAE Pavilion Project on Saadiyat Island owned by Abu Dhabi’s Tourism Development and Investment Company (entered by Al Futtaim Carillion) which received the GCC Small Project of the Year award. The winning projects from Saudi Arabia include the Development of King Abdul Aziz Endowment Project (Makkah) owned by The Higher Endowment
The GCC Building Project of the Year award went to Qatar’s Doha Towers project owned by HE Sheikh Saoud Bin Mohamed Bin Ali Al Thani (entered by China State Construction Engineering Company); while the GCC Leisure and Tourism Project of the Year award was given to Kuwait’s The Avenues Project owned by the Mabanee Company; and finally, the Replacement of Steam TurboGenerators at No. 2 Power Plant Project owned by Bahrain Petroleum Company (entered by TECHNIP France Abu Dhabi) from Bahrain received the GCC Power and Water Desalination Project of the Year award. Abraham Akkawi, Partner and Head of Infrastructure and PPP Advisory Services, MENA, Ernst & Young, congratulated the winners and commended the MEED Quality Awards for Projects organisers for continuing to inspire industry stakeholders across the region to aspire for quality and project excellence. “In essence, it is not just the quality that we are recognising in each and every project that has received an award tonight; we are also paying tribute to the invaluable impact that these projects have on the development of the region as a whole. Congratulations to all the winners - your achievements are worthy not just of recognition, but also of being an example others should follow.”
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market intelligence Enterprise Qatar subsidises Qatar’s Core Skills programme by 70% for SMEs Enterprise Qatar (EQ) has committed to subsidise up to 70 per cent of the costs and has partnered with international training firms and educational institutions to deliver the training. The programme allows SME owners and managers to access professional advisory services hitherto beyond their financial capabilities, said a press release. Noora Al-Mannai, CEO of Enterprise Qatar, said that the Core Skills Programme is a ground breaking effort to raise the ability of SMEs in Qatar to improve their services and operations, compete more effectively and thus achieve higher profitability rates. “EQ works closely with Qatari SMEs to provide them with a range of support services to help them succeed through providing a series of specialised training courses. SMEs have fewer resources to build their teams’ skills, and lack of trained personnel hinders them from landing more business, in addition to high turnover rates. Specialised training programs are among the most important factors to build internal capacity and thus increase productivity levels. Local companies are usually faced with challenges such as lack of specialized trainings or the relatively high costs of such programs and thus can’t afford to provide their management teams with the necessary training they need, unlike established companies and internationals corporations” she explained.
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Oman CB sets minimum target for SME lending
The Central Bank of Oman (CBO) has mandated all banks operating in the sultanate to allocate five per cent of their total credit portfolio to small and medium enterprises (SMEs) by the end of December 2014. In a circular published recently, the CBO said, “Banks should allocate five per cent of their total credit to SMEs. In other words, the lending of the licensed banks to SMEs, shall, at any time, not fall below five per cent of its total credit portfolio. Banks shall achieve this target before the end of December 2014 - planning for systematic progress. Banks that have more than the stipulated share shall not slip back and shall increase their credit further.” The circular said that the percentage stipulated by CBO at the moment was only the minimum target and the banks shall strive to exceed this threshold to participate in the development of SMEs.
“Banks should also note that, going forward, the central bank may consider raising the minimum target beyond five per cent,” the circular said. Additionally, the circular stipulates that the banking sector must encourage the growth of SMEs in the country by formulating a liberal lending policy for the SME segment taking cognizance of the government’s vision and the regulatory initiatives of the central bank in this regard. The circular also advises banks to create separate departments for SMEs to cater to their needs in a better way, ensure better credit flow and extend all sorts of assistance to facilitate entrepreneurship through the SME departments or otherwise in project formulation, finance and business management, leads in business initiatives, technical support, sourcing of raw materials, process management, marketing, etc.
The Bader Fund invests $1.1 million in three Lebanese startups seeking expansion The start-ups include: the Shawarmanji fastfood chain, the Shahiya food portal and the online book distribution company Cedar Books. The group revealed in a press release that the capital of the fund will be raised from $7.3 million to $15 million during the second phase of its action, which has been ongoing for seven years. Bader’s three new investments were announced in a ceremony organised last night under the aegis of Central Bank Governor Riad Salameh and in the presence of Bader President Robert Fadel and CEO Khaled Zeidan.
“BBEF, which was launched by the Bader Group in 2006, aims to provide funding for SMEs seeking expansion,” it said. “Middle East Venture Partners (MEVP) manages the Bader investment fund, which is registered in Luxembourg as per the model of “investment funds and investment mechanisms specializing in venture capital.” The fund’s current capital amounts to $7.3M thanks to the contribution of eight key investment institutions: Fransabank, BLOM, Bank Audi, BankMed, BLF, Crédit Libanais, M1 Group and MEVP.”
Emirates NBD launches new initiative for UAE-based SMEs medium enterprises need to be nurtured and supported at every step of their growth journey to empower and enable them to compete on global platforms,” Suvo Sarkar, General Manager – Retail Banking at Emirates NBD. “While we have invested in enhancing our product and service proposition for business banking in recent years, Emirates NBD is committed to go beyond this to provide all-embracing support to small businesses, who are engines of economic growth and vital contributors to the country’s GDP, and RISE has been conceived to meet this strategic objective.”
Emirates NBD has launched RISE, a new initiative from its Business Banking division that aims to provide small and medium business owners in the UAE with a comprehensive platform to learn, connect and grow their businesses further. The strategic objective of RISE is to create an all-inclusive platform that all UAE-based SMEs can reach out to for full-fledged business support, said a press release. “Emirates NBD believes that small and
Official statistics state that the UAE is home to more than 230,000 small and mediumsized companies that together contribute more than 40 per cent to the country’s GDP, and employ in excess of 42 per cent of its workforce. With Dubai’s economy considerably diversified away from oil, SMEs account for 95 per cent of the total enterprise population in the emirate, according to Dubai SME, an agency set up by the Department of Economic Development to provide support to the SME sector. “Launched through a dedicated portal
(risebusiness.com), RISE is characterised by several components, including RISE Intel, Rewards & Beyond and RISE Exchange,” said the press release. “A library of case studies, white papers and global best practice examples, RISE Intel offers SMEs a collected body of information and knowledge. A networking forum that enables SMEs to find the right business partners and contacts, the RISE exchange is another module that emphasises the significance of connectivity. Closely linked to the RISE initiative is Rewards & Beyond that offer SME members a range of exclusive discounts and privileges to run their business more cost efficiently. “The RISE initiative will be supported by a series of events and workshops, offering SMEs around the country the right platform to showcase their success stories and also connect with other businesses for further development and growth. Inspiring real stories of Emirates NBD’s business owners and entrepreneurs who have differentiated themselves through innovation and their ability to adapt to the fluctuating economy, will be showcased on the RISE portal. In addition RISE will also have a strong social media factor leveraging Facebook, Twitter and Linkedin Plus.”
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market intelligence Gulf Capital SMEinfo Awards seeks to strengthen SME sector in the UAE
role in generating new employment, thus the need for a better support system that will give existing SMEs a boost, as well as inspire others to launch their start-ups,” continued El Solh. Organisers of the Gulf Capital SMEinfo Awards believe that the recognition programme goes beyond the giving of trophies and certificates. “We actively promote these businesses and share their success stories with others. Sharing knowledge and challenges for start-ups, entrepreneurs and SMEs, we provide connection to mentorship and resources, which are aimed at capacity building for start-ups to help them achieve sustainable growth so they can continue generating new employment opportunities and help the growth of the UAE economy as a whole,” said Becky Crayman, Head of Awards, Gulf Capital SMEinfo Awards.
With the launch of the second edition of the Gulf Capital SMEinfo Awards, the UAE’s premiere SME business recognition programme seeks to honour the outstanding contributions of small and medium sized businesses in generating employment and boosting the country’s GDP. SMEs are widely recognised as engines of business growth in developed markets, where they are responsible for contributing to over 60% to 70% of employment and more than 50% of GDP. “In the UAE where the SME sector accounts for more than 90% of businesses, it becomes even more incumbent for the business community to boost their success and help build their ability to generate new employment and increase their contributions to the GDP,” said Dr. Karim El Solh, Chief Executive Officer, Gulf Capital, which recently raised $215 million (AED 790 million) - including a $20 million
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(AED 73 million) contribution from the International Finance Corporation - for its credit and mezzanine fund, intended primarily at financing small businesses. “It is for this reason that we are supporting initiatives like the Gulf Capital SMEinfo Awards because we strongly believe it is a highly effective platform for encouraging other SMEs to succeed, no matter what the odds, and have a far-reaching impact on the economy and the greater society at large,” he added. In the UAE alone, more than a million people are expected to enter the job market by 2030. Of this figure, more than 600,000 are UAE nationals; and the rest are a new expatriate workforce who will be needed to work in key sectors and labour-intensive jobs as the Emirates continues its march to becoming a firstworld economy. “The private sector will play a pivotal
Now in its second year, the Gulf Capital SMEinfo Awards honours the UAE’s most successful SMEs, entrepreneurs and business leaders in 11 different categories, including the Gulf Capital Business of the Year, MasterCard Small Business of the Year, Emirati Business of the Year, Online Business of the Year, RSA Start-Up Business of the Year, Sustainable Initiative of the Year, Customer Focus of the Year, Business Innovation of the Year and People & Culture of the Year. The Gulf Capital SMEinfo Awards are now accepting entries until the deadline on 13 June 2013. Entrants must hold a valid trade license in the UAE, have been trading for two years (with exception of the RSA Start-up Business of the Year), have a turnover of AED 250 million or less and fewer than 250 employees. Entries will not be accepted from branches of international subsidiaries. For more information, please visit www.smeinfoawards.com.
member profile
A World of Hospitality An acknowledged market leader in the management of distinctive serviced residences and hotels, Mondo Hospitality has achieved great success by passionately delivering a best-in-class guest experience in locations that work.
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full hotel management company registered with the Dubai Government vetted by Dubai Tourism and Commerce Marketing and also a full-fledged Hotel Management Company in London, Mondo Hospitality operates and manages an expanding collection of distinctive properties – from business hotels to serviced hotel apartments in the most exquisite locations in London and Dubai. It is an end-to-end solutions provider for existing hotel owners, as well as a onestop shop for investors looking to invest in hotels and serviced residences. The success story of Mondo Hospitality has been underpinned by the exceptional team in place, the delivery of the highest levels of service towards our internal and external customers, leading ultimately in exceeding the expectations of all our stakeholders. What differentiates Mondo Hospitality is that it delivers tailor made solutions for its owners and investors through detailed planning, implementation and execution. “We have a lean business model, which maximises revenues and profits for owners and investors. Using this approach, Mondo was able to win a contract from a substantially bigger International operator, and were able to demonstrate superior performance and a complete turnaround in results,” said Hassan Khan, Group CEO, Mondo Hospitality. Mondo Hospitality provides full management and operations services, including in-house marketing, sales support and access to its international sales agent network. As a hotel operator, it has the capacity to maximise cash flow and return on investment for your property, thus increasing its value. “We implement a low risk management and operations service for your property or hotel. In addition to running an
existing operation more profitably, we also help transform an existing building into a serviced Residence or hotel – and therefore create a new revenue stream,” continued Khan. How it works Mondo has a developed comprehensive Property Suitability Assessment strategy for selecting the right properties to add to its collection, and a business strategy that is built around its corporate ethos of “Locations that work”. Assuming the Property Suitability Assessment (PSA) indicates the property works, the next step moves towards formalising a working partnership. Working with Mondo Hospitality Built on professionalism, discipline and experience, Mondo Hospitality maximises value for our guests, employees and investors. We are committed to an entrepreneurial approach to business that profitably delivers best-in-class serviced residences, in locations that work. Our business will operate to the highest possible industry standards. Our high calibre management team will ensure that the business consistently delivers and will drive growth We understand that enduring success and business performance comes from the ability to deliver upon your commitments. We always conduct our business in a disciplined manner in order to achieve this. We are committed to a set of customerfocused service and quality standards.
Mondo Hospitality then prepares a Budget Summary (minimum three year outlook) covering the following Key Performance Indicators (KPIs): Occupancy; Average Room Rate; Revenue Per Available Room (RevPAR); Total Revenue; Costs; Management & Incentive fee projection; as well as GOP and NOP. Mondo will continue to expand its portfolio. In addition, Mondo has evolved into a company, which offers turnkey solutions to any potential investor or property owner. This includes identifying and acquiring an asset, renovations and refurbishments, management and ultimately a profitable exit strategy. This ensures that we have consistency within our business and that our guests and stakeholders know what to expect from us. This trust builds successful partnerships and customer relationships. Passion underpins everything we do. Our enthusiasm for hospitality, our desire to be a world-class provider of serviced residences and our commitment to be a successful business feeds this passion. It is something that can be felt by our people, our partners and our guests. Our innovative approach to business and our ability to respond quickly to opportunities ensures a can-do attitude across our company at all levels. We understand that achieving a winwin for us and our stakeholders requires business awareness, flexibility, expertise and smart-thinking. We use these traits to win and conduct business, whilst achieving superior guest, investor and employee satisfaction.
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member profile
Profile: Hassan Khan
and procurement for Mars Inc. With a passion for working in developing markets, in 2000, Hassan moved to take up Finance and planning role in the Kingdom of Saudi Arabia, here he also set up the business planning and supply chain function for Mars Saudi. He went on to hold increasingly bigger roles in supply chain, at one point managing this function for twenty six Mars markets from Afghanistan to Morocco. Over the next 4 years Hassan served as the Supply Chain Director of Mars GCC where he developed a highly engaged team and set up a best in class regional supply chain. In his next role Hassan was promoted to the position of General Manager for the United Arab Emirates for Mars Inc. where he was responsible for a 220 strong organisation with full P&L accountability for a $130M dollar business with clear market leadership. At the same time Hassan was in charge of running a $30Million dollar International travel retail business across the Gulf. Known for having an eye for talent, developing and leading people with passion and inspiration, Hassan values this aspect of leadership through his commitment to people engagement.
H
assan Khan is an M.B.A graduate from Henley Management College, England, specializing in strategies for emerging markets. He also holds an M.Sc. in Information Science and Technology as well as a B.Sc. (Hons) in
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Biochemistry. Starting out in the world of Academia, Hassan moved into Industry in 1996 with Mars in the UK. Over the next 4 years he held various regional European and Global responsibilities in the areas of project management
In 2011 Hassan took his 15 plus years multifunctional, multinational experience and moved in Hospitality industry building and developing Mondo Hospitality Management. Today Mondo operates a portfolio of bespoke Serviced Hotel Apartments and Full Service Hotels across Dubai and London. Hassan has assembled a multi-cultural, talented, driven and experienced team with more than 100 years collective hospitality experience.
SPECIAL REPORT
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New hotels rising will give region’s tourism and hospitality sector a massive boost
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report recently released by STR Global points to more than 100 hotels scheduled to open in Africa and the Middle East this year. The figures further shows that 11 hotels opened in the region during the first quarter of the year, totaling 1,683 rooms, with a further 34,931 rooms to open throughout the year. According to Ventures, the report found that the Middle East/Africa hotel growth pipeline for March consists of 483 hotels totaling 118,713 rooms, while 141 hotels are expected to be opened next year, bringing 30,924 additional rooms to the region. STR’s total active pipeline data includes projects in the ‘in construction,’ ‘final planning’ and ‘planning’ stages, but does not include projects in the ‘preplanning’ stage. Meanwhile, Arabian Business reported that the majority of the rooms expected to open will debut in the the upper upscale
segment (11,269 rooms in 38 hotels), followed by the luxury segment (6,186 rooms in 28 hotels) and the upscale segment (5,909 rooms in 30 hotels). Earlier this month it was found that the Middle East and North Africa is currently leading the world in hotel price increases. Rates from December, January and February 2011/2012 were compared year-over-year to December, January and February 2012/2013 and found that hotels in the Middle East and North Africa increased in price by 8 percent. Overall, hotel prices worldwide increased 4 percent. This growth is in line with research that debuted in March by the W Hospitality Group, showing that the number of hotels planned to debut in Africa increased by 16 percent over 2012, while development was up 12 percent last year over 2011. The data is based off a sample of 29 international hotel chains, with analysis based off of deals signed with owners. arabbusinessclub.org MAY-JULY 2013 33
SPECIAL REPORT Arabia that currently has the biggest hospitality market, with plenty of untapped potential. According to the UNWTO Tourism Barometer, the Kingdom’s tourist numbers grew by 14 percent in 2012, underpinned by strong demand for its religious sites. Although for hotel businesses in the world’s largest oil exporter, the ball is in the court of the authorities. “You look at Medina and Mecca particularly - these are the markets that you know it’s up to the Kingdom how many people they will let come in and visit these places,” Sorenson said. Egypt Still Struggling The situation is radically different in Egypt, formerly the tourism industry’s poster child for success and dynamism. CNBC’s Access Middle East recently featured a report about the global hotel brands’ aggressive expansion in the Arabian Gulf which is helping to drive profits in the face of Europe’s faltering economy. Following are highlights of the special broadcast. “There’s no question that we have put a lot of resources behind China, India, and the Middle East,” Richard Solomons, CEO of InterContinental Hotels Group, the world’s largest hotel group by rooms, told CNBC’s “Access: Middle East”. “The United Arab Emirates (UAE) and Saudi Arabia…are really the big two drivers for us, particularly with some other issues in markets such as Egypt,” he said, speaking on the side lines of the 13th World Travel and Tourism Council summit in Abu Dhabi. With 15 million visitors seen by 2015 in Dubai alone, its clout as an international tourist destination is growing.
bear. And countries which are deliberate about growing arrivals in those places and growing commerce in those markets - that’s what brings us opportunity,” he said. Tom Klein is president of Sabre Holdings, a travel technology company behind some of the industry’s most advanced booking, hotel and flight management portals. He said that thus far, the UAE - and in particular Dubai had outperformed others in the region. “Because of their investment in tourism and the way they think about tourism as the engine for the region - while it’s not completely unique to the Middle East, it’s probably the shining example that the rest of the globe knows about,” he said. Darren Huston, CEO of Booking.com, added: “We’re seeing great growth in this part of the world. In the Middle East the top three destinations for us are Dubai, Mecca and Abu Dhabi.”
Arne Sorenson, CEO of Marriott International, said he saw an attractive level of robustness in the markets of the UAE.
Along with a growing retail space, Dubai is home to the highest number of consumer brands - second only to London - according to property specialist CBRD.
“You’ve got tremendous financial and cultural resources that can be brought to
But although it boasts the largest total tourism receipts in the region, it is Saudi
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Hotel groups have been scrambling to deal with the slump in visitor traffic from the 14 million arrivals in the year before the revolution. “We’ve seen business fall significantly, obviously, but it’s coming back this year. Even this year it’s performing better that I would have feared,” Sorenson said. Meanwhile, Solomons stressed that Egypt remained part of rival IHG’s long-term regional strategy. “Tourism has been a very big piece of development in Egypt and it will come back,” he said. “So the way you tackle it is: this is a long term business. You stay true to the business and you look after your people.” But for the remainder of Africa, Solomons disagreed with some of the bullishness expressed by industry experts. “Maybe some of the people that are a little bit behind in some of the markets are looking to Africa to save them on that front. And I don’t think it will, in the short term,” he said.
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INDUSTRY FOCUS
The Future of Travel and Tourism in the Middle East - A Vision to 2020
Following are excerpts of a report published Global Features and Foresight with the support of the Arabian Travel Market and Reed Travel Exhibitions, presenting a global perspective on the tourism sector’s challenges and opportunities throughout the region. 36 arabbusinessclub.org MAY-JULY 2013
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cross the region, countries, states and cities are embarking on an unparalleled program of investment and development to increase capacity, improve infrastructures and grow tourist numbers and revenues. Current estimates suggest that over the next 20 years, upwards of $3 trillion is going directly into leisure and tourism and indirectly into the supporting infrastructure. Through projects announced to date, by 2020 the region will add airport capacity
for 300M extra passengers,ii build over 200 new hotels, add 100,000 additional rooms,iii grow visitor numbers to 150M, and increase the size of its aircraft fleet by over 150% by 2025.iv v To explore the potential implications of such explosive growth and development, Global Futures and Foresight has launched a major programme of study into the future of travel and tourism in the Middle East to 2020. The aim of the study is to identify the drivers and barriers which could sustain, accelerate or curtail the forecast boom in travel and tourism in the region.
The study will identify key global, regional and local security, political, economic, social, technological, environmental and legislative trends, examine consumer behaviours and explore potential ‘wild cards’ and discontinuous changes. It will then develop scenarios highlighting their possible impact on the region’s plans. Uncertain Future - In studying the future one thing becomes clear, there is not one certain future that we are inexorably moving towards but many possible futures. The future that ultimately emerges will be formed by our own plans and by changes and forces in our external environment including trends, new ideas, discontinuous change and ‘wild card’ low probability, high impact events. The current plans of countries, states, cities and individual developers and operators are underpinned by a strong growthorientated ‘preferred future’. Any analysis of history shows that the outcome at the end of any five, ten or twenty year time period rarely resembles what was forecast at the start. Issues – How broad are the scenarios you have considered? How willing is your organisation to ‘discuss the undiscussable’ and think about those factors that may challenge your current growth assumptions? What if growth differs significantly from current forecasts? In this section we explore some of the key challenges for the region in delivering its current travel and tourism strategies. In the second section we explore some of the critical global trends and drivers of change which could have the greatest bearing on the sector. In the centre pages of the report, we present a timeline that outlines many of the most interesting landmark developments, targets and issues arising on the path to 2020 and beyond. In the final section we provide a short summary of some of the key plans and developments across the region and a table that enables us to compare the countries of the region at a
glance. Vision and Viability - An analysis of the country strategies highlights that the region has the ambition, resources and commitment to turn vision into reality. The challenge is to ensure the long term viability of those strategies. Going all out to deliver 10 million, 15 million or 20 million visitors presents one set of challenges, sustaining those numbers represents a very different issue set. Issues - How will we find future customers to sustain our visitor targets? How will we maintain the price premium required to deliver our desired rate of return? What will it cost to update amenities and infrastructure to ensure we stay competitive with other planned and future developments in the region and further afield? How will we respond if visitor numbers don’t meet our business plan targets? Information Reliability - In our research we found huge variation between the visitor forecasts coming from different sources such as the national tourist agencies, the WTTC and independent research houses (Figure 1). In Turkey the variation in expected tourist numbers by 2010 is between 22 million and 30 million. Investors, developers, facility operators, governments and infrastructure planners need reliable and up to date forecast data on which to base their assumptions and plans. More importantly, those developing tourist and leisure facilities need to see that infrastructure planners are working to the same set of growth assumptions to ensure adequate provision of water, sanitation, power, transportation and telecommunications. Issue – is there the potential for a central regional agency which defines standards, collects data and generates forecasts on a consistent basis so the outputs can then be used by everyone? Innovation - A wave of innovation has swept the sector and is creating
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INDUSTRY FOCUS developments like the Palms, the Pearl, the Louvre, Hydropolis underwater hotel, and the world’s largest buildings, hotels and airports are all in the pipeline. However, many are international in nature and could equally have been located in Shanghai, Stockholm or Sharjah. The region’s challenge now is to drive the next wave of innovation that emphasises, celebrates and promotes Middle Eastern cultures, heritage and tradition. Issue - What aspects of your culture, heritage or tradition will you emphasise in tourist developments and promotion in the future? Competition and Co-operation – Average length of stay in some destinations is currently as low as 1.5 days.vi To achieve the desired returns, destinations and attractions will need to drive up average length of stay and consider collaboration. Jordan, Turkey, Egypt and Israel are already exploring the potential for marketing multi-centre visits. The key to success will be to ensure a seamless experience for the traveller and minimise the time spent in airports and customs clearance – possibly making road and rail options more attractive. Clear differentiation will also be required of the attractions on offer from one destination to the next. Simply swapping from one luxury five-star hotel to the next may not be enough. Issues – Can the region’s players get
beyond competition to achieve winwin collaboration? How do we create a seamless and hassle-free experience for the multi-centre visitor across the region and possibly with destinations in Asia? Sustainability / Protection of Culture and Heritage/Volume vs. Value A key dimension to consider is the social, economic and environmental sustainability of the region’s travel ambitions. Figure 2 uses WTTC figures for income per tourist, the number of visitors per citizen in 2006 and the forecasts for 2016. The diagram highlights clear positioning choices – for example in 2016 Qatar is targeting tourist income of over $US11,000 per citizen, it is seeking to do this at a level of just over two tourists per citizen. In contrast, Jordan, Saudi and Oman expect visitor to citizen ratios of between 0.75 and 1.5 - but with only $1,000 to $1,700 tourist income per citizen. Given that irrespective of spend, each visitor places roughly the same demand per day on resources and on use of the infrastructure, water and other services, the chart highlights clear choices in where countries position their tourist proposition. High tourist numbers, with shorter stays put undue pressure on transit facilities and airline capacities. This also raises the issue of how far down countries are willing to chase prices in order to utilise capacity
once built and may place an even stronger emphasis on more phased and flexible development approaches. Issues – Given the growing concern over the region’s supply of fresh water and the demands placed on infrastructure, will this inevitably force players to move upmarket and focus on attracting smaller numbers of longer staying, higher spending visitors? Differentiation and Target Market - The region will have no shortage of high end luxury developments and international standard attractions. The issue is how effectively the promoters can identify and target the market segments who will be the most ready users of these facilities. Longer term, there will be a growing need for differentiation between facilities within a destination and between destinations. Issues: Will you target older or younger, Americans, Europeans, locals or Asians? Will you emphasise activity, sport, cultural or health tourism and in what mix? What do you want your location to be famous for? Service Standards - Figure 3 highlights a massive variation in the expected
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INDUSTRY FOCUS 40m people, and there have been two since then.vii The risk is rising of global pandemics through the spread of diseases such as SARS and Avian Flu. Issue - What impact might just one climate disaster or disease outbreak have on regional tourist numbers? Resources - Some forecasts suggest water availability could halve across the region within 50 yearsix – and these may not fully account for anticipated tourism growth. At the same time the construction of hotel, airport and leisure facilities will create major demand for steel, glass, concrete and other construction materials.
number of visitors per travel and tourism sector employee. To provide a consistent benchmark this model assumes an average length of stay of one night. Given the desire of many destinations to achieve premium positioning, service ratio will be a critical determinant of the visitor experience. Issues – What is the optimum service ratio for your desired market positioning? How do you currently compare with other destinations and attractions? Can you use a more favourable service ratio as part of the marketing proposition? Is the region prepared to start investing in tertiary, secondary, primary and even nursery education facilities in Asia and Africa to educate the next two generations of
service staff required to meet the future staffing needs of the region’s travel and tourism sector? Flexibility - The construction of a temporary facility at Doha airport to handle 30M passengers for the Asian games demonstrates that more flexible and modular approaches can be adopted to meet temporary demand spikes.vii For the region, given the uncertainties around security and climate change, flexibility may be critical to avoid overcapacity. Concepts such as flatpack temporary hotels, floating hotels, and low-environmental footprint solutions may all need to be considered to mitigate the risks of demand lagging supply. Issue – are players in the region willing to consider such flexible alternatives given the current focus on large showpiece developments? Safety - The issues of terrorism and inter-state conflict are well rehearsed and don’t need revisiting here. However, other challenges cannot be ignored – for example, could the region’s reclaimed islands be at major risk from rising sea levels? Other weather related events such as tsunamis and hurricanes are expected to increase in ferocity and frequency. The 1918 influenza pandemic killed over
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Issue - The lack of water could become a major constraint on the region’s ability to attract and sustain the desired levels of tourists. Rising raw material prices may affect the viability and payback period of projects. Global Drivers of Change - Understanding a Changing World The future is not a single destination. As we look ahead to 2020, there are a number of different possible outcomes and some key factors that will have the greatest influence on which path we take and where we end up in 2020. The future of travel and tourism in the Middle East will both influence and be influenced by these critical global drivers of change. These key political, economic, social, demographic, technological and environmental factors will influence everything from social attitudes and consumer demand to resource availability; they will shape confidence in the sector and drive government policy and regulation around the world. In this section we explore these global drivers, highlight potential futures they make possible and identify key questions raised for decision makers in business and government. Economic Power Shift - China is now the fourth largest global economy and India
the 9th.x Rising populations, growing industrialisation, the opening up of markets and globalization of industries are helping to accelerate economic shifts and the rise of Asia. By 2050, countries like Bangladesh, the Philippines and Vietnam could all be among the top 20. From the region, Turkey, Egypt and Iran could rank 17th, 19th and 21stxi. These shifts are creating new trading relationships, opening up new opportunities and creating whole new target markets for inbound visitors and investors. Impact – The world is discovering these new economies and the competition for their attention and markets is intensifying. Issue – How can the region position itself to maximise visitor flows from these rapidly growing economies? Growth and Ageing of the Global Population - The world’s population rose from 3 billion in 1960 to 6 billion in 2000, and is forecast to reach 7.6 billion by 2020 and 9 billion by 2050. While Europe is expected to shrink by over 100 million by 2050, most regions will grow and Asia, the Middle East and Africa will experience the most dramatic
increases.xii At the same time, many nations are experiencing rapid ageing of their populations through a combination of dramatically falling birth rates and increasing life expectancy. Globally, the proportion of those over 60 will rise from 10% today to 13.6% in 2020 and 20% by 2050.
risen 20 years in the last 80 In Japan, Europe and The USA, life expectancy is now around 80 and heading towards 100 within the lifetime of our children.xiii
The spread will range from 50% in some European countries to 5% in Africa. Life expectancy in developed economies has
Impact – These changes will significantly impact the level of disposable income, who holds the wealth, where future customers will come from, how old they will be and from where we recruit future staff. Extended lifespans could see funds being switched from travel and leisure to cover living and health expenses.
Citizens over 65 in Europe and the USA own over 70% of all the personal assets of those economies.xiv
Issue – Do our marketing plans reflect global population change? How can we ensure the region is an attractive destination for older visitors? How can we ensure a continuous flow of suitably educated and motivated staff? Wealthier - Wealth levels are rising globally and the rapid rise of Asia is generating a new class of wealthy citizens with the desire to travel. MasterCard suggest that by 2014 there will be over 650 million Middle Class households in Asia earning above US$5,000 a year – the threshold above which people tend to travel abroadxv. They estimate China will have 293 million and India arabbusinessclub.org MAY-JULY 2013 41
INDUSTRY FOCUS 102 million earning at this level. China’s Government estimates that by 2020 at least 100 million tourists will visit foreign destinations and generate US$94 billion in tourist revenues.xvi In developed countries, property values rose by US$30 trillion from 2001 to 2005. This new wealth is driving demand for second properties overseas and increasing travel flows.xvii Impact – Could demand for travel and for second homes ever outstrip the available supply in the region? Issue – Given rising numbers at every wealth level, the region’s players will need to make critical decisions on which sectors of the market they target. Are airlines, hotels and leisure services gearing up to serve the needs of the new Asian traveller? Healthier - The quest for longevity and healthier lifestyles will be major drivers of travel demand. Medical tourism in India is forecast to reach $2 billion by 2012. Thailand – a popular market with Asians and Americans - earns over $850 million a year from this market - forecast to reach $1 billion by 2008.xviii Many countries in the Middle East are planning to compete in this growing market. General interest in outdoor and ‘working holidays’ is rising fast. 43% of travellers are likely to go hiking, up from 24% one year ago, and 39% plan adventure activities like para-sailing and whitewater rafting, up from 29% last year.xix Impact – Regular health related visits could increase the duration and frequency of visits if the quality and cost compare favourably with other heath tourism destinations. The region may be able to offer more high quality hotel facilities and better infrastructure than many other destinations. Issue – Given the cost of equipping and maintaining health facilities and the competition from other forms of tourism, the region’s players will need to
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decide where to focus their development efforts to maximise the returns. Future Competition - Alongside existing popular destinations, a number of new travel alternatives will emerge to compete for the attention of visitors to and from the region. The world economic map will look very different in 2020 and by 2050, nations such as Pakistan, Indonesia and Nigeria all have the potential to be amongst the 20 largest.xx Luxury travel and tourism forms a key part of each of these nation’s development plans. India and China have already established themselves as
competitor destinations - China could receive more visitors than Spain by 2010, becoming the second most popular destination globally. Impact – Tourists will have increasing levels of choice. Many of the emerging destinations will place a strong emphasis on local culture to differentiate their propositions and low wages may enable them to maintain high staff to customer ratios. Issue – The region’s destinations will need to identify clear target market segments and have differentiated propositions.
INDUSTRY FOCUS Sustainable Tourism - The 2007 intergovernmental Panel on Climate Change (IPCC) report confirmed a 90% likelihood that human actions are warming the planet and thereby increasing the risk of future flooding and climate related disasters.xxii At the same time, concerns are increasing over consumption levels – between three and five planets’ worth of resources could be required if global consumption levels rose to match those in Europe and the USA.Water demand is also a growing concern - The World Bank estimates that water availability per person in the Middle East and North Africa is set to drop by half by 2050. Rising tourist numbers will increase these pressures. Every US state has passed legislation to reduce the production of greenhouse gasses and to move towards more sustainable manufacturing and consumption.xxiv Governments are beginning to impose ‘carbon taxes’ on flights emanating from their countries. While emissions per passenger mile may be lower than other transport modes, a lot of air travel is considered discretionary and hence an easy way to target emission reductions. Impact – The attention being paid to climate change and sustainability issues
is rising fast. A tipping point could soon be hit where carbon allowances and reduction targets are imposed on firms and individuals. Future visitor forecasts and development plans may need to be scaled back and greater focus put on the environmental footprint of existing and new developments.
rewards on offer at home begin to match those available in the region.
Issue – Can the region respond by establishing global best practice standards on emissions, energy efficiency and waste?
Increasingly, standards are being set by developing nations looking to differentiate themselves. For example Asiana Airlines of Korea has won Global Traveller’s award for Best Onboard Service and Flight Attendants for three years running and Korea’s Incheon Airport has won the Airport Council International’s Service Quality award for the last two years.
Human Resources - Over the next 10 years, it is estimated that across the region over 1.5M new jobs will need to be created in travel and tourism – possibly more if all current development plans and proposals are executed.xxv Global competition is rising both for experienced management and junior service personnel as both established and emerging economies compete for this scarce resource.i Impact – The industry will need long term thinking about how it will recruit, train, reward and train personnel. Partnerships may be required with developing nations to establish educational facilities that act as feeder programmes for future staff. Issue – Guest workers may find the
Service Innovation and Excellence - Rising customer expectations and industry competition are driving up service benchmarks particularly in high end luxury categories.
Impact – Competition for the high end leisure traveller will be intense and customer expectations will be of excellent service throughout their stay. With most visits to the region lasting less than five days, the potential for recovery from service lapses will be limited and the chances of repeat visits will decline. Issue – How can the Middle East define and sustain new standards of service in the face of intense global competition? Information Communications Technology (ICT) – Between 2006 and 2012, the cost of processing power is anticipated to fall sixteen-fold. Technology will increasingly be leveraged to enhance the customer experience before, during and after a trip. Integrated systems between airports, airlines and hotels will enable travellers to provide their data once only during a visit, eliminate check-in and enhance security. Multilingual ‘digital concierges’ could provide a personalised single customer interface across multiple providers throughout the travel experience.xiii Virtual reality and gaming technologies will enable travellers to see and experience a travel destination prior to purchase. Wearable technologies Chip implants and RFID will allow the
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tracking of people and luggage. Robotic assistants are already being used in caring for the elderly in Japan and could increasingly be used for everything from hotel butlers to service staff on low cost carriers. Additionally, 3D virtual technology has the capacity to provide a substitute for travel for meetings and leisure, particularly if sustainability concerns begin to curtail discretionary travel. The impact will be most notable in the business sector. Impact – ICT will transform the travel experience and shape user expectations. Advanced technology solutions will be considered an essential component of any high end offering. Issue – Is the region developing a sufficiently strong ICT education and service sector to meet future demand? Aviation Efficiency and Performance - IATA claims new aircraft are 70% more efficient than 40 years ago and 20% better than a decade ago. The industry has set a goal of increasing fuel efficiency by a further 50% by 2020.xiii Boeing’s Dreamliner and the Airbus A380 will make high and low volume non-stop long-haul flights feasible to any destination. Supersonic technology could reduce flight times from Dubai to London to 4 hours by 2015 and hypersonic flight could reduce it to under 2 hours by 2020. Many manufacturers are working on hypersonic propositions and Virgin Galactic believes it would take ten years and cost at least $2Bn to develop.xxvi Impact – The region’s combined buying power could be leveraged to drive even higher standards of performance and efficiency from suppliers. Supersonic and hypersonic travel will create new ‘weekend break’ markets. Shorter term developments with the Dreamliner and A380 may challenge the viability of hub strategies. Issue – Will aviation developments enhance or challenge the region’s positioning as a gateway to Asia? Security - On security matters, the region suffers from a collective identity in a way
Vision 2020 by the Numbers •
that others don’t. For example, the tensions in Myanmar, Thailand and the Philippines have not led to discussions of ‘security issues in Asia’ or resulted in visitors staying away from other countries in Asia. Impact – The region will need concerted action to address the risk of adverse travel advisories and deal with security anxieties over terrorism, inter-state conflict and personal safety.
• • • • •
Global POPULATION TO REACH 8 billion in 2020 Number of tourists expected to reach 150 million by 2020 Dubai International Airport projected to be handling up to 100M passengers per year by 2025 Global tourist arrivals to reach 1.56 billion by 2020. Middle East passenger fleet could rise to 1195 aircrafts by 2025. 100 million Chinese outbound tourists
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INDUSTRY FOCUS
Document References and Sources I Beyond Oil: Reappraising the Gulf States – 31st January 2007 http://yaleglobal.yale.edu/display.article?id=8690 II WTM 2006 Global Trends Report http://www.wtmlondon.com/images/100487/ SHOWARTICLES/WTM Reportfinal4.pdf III Accor Presentation – Approach to the Middle Easter Travel Market – Presentation to Trends and Challenges in Middle East Travel Conference - Feb 20th-21st 2007 IV Mideast air traffic to grow 7% - March 7th 2007 http://www.ameinfo.com/112907.html V Global Futures and Foresight analysis of published announcements VI Emerging Qatar 2005 – Oxford Business Group http://www.atypon-link.com/OXF/doi/abs/10.5555/ erqa.2005.2. Emerging_Qatar_2005.113?journalCode=erqa VII New Aviation Developments http://www.traveldailynews.com/makeof2.asp?subpage_ id=1896 VIII WHO Issues Alert Over Flu Pandemic Fears – January 21st 2005 http://www.agobservatory.org/headlines. cfm?refID=44593 IX Factors Inside and Outside the Water Sector Drive Mena’s Water Outcomes – World Bank http://siteresources.worldbank.org/INTMENA/ Resources/01Chap01-Scarcity.pdf X Dancing with Giants - China, India, and the Global Economy http://lysander.worldbank.catchword.org/vl=3936701/ cl=14/nw=1/rpsv/home.htm XI Goldman Sachs Analysis http://www.gs.com
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XII World Population to 2300 – UN Population Division – 2004 http://www.un.org/esa/population/publications/ longrange2/WorldPop2300final.pdf XIII Future Traveller Tribes 2020 – Henley Centre Headlight Vision with Amadeus http://www.amadeus.com/amadeus/documents/ corporate/TravellerTribes.pdf XIV Six key states push world to 9bn people - The Guardian – March 1st 2001 http://www.guardian.co.uk/population/ Story/0,,444709,00.html XV ANALYSIS-Asian economies feel the growing beat of tourism http://www.investsmartindia.com/IIL_NEW/Home/ Reutersnewsdts.aspx?storyid=1163142795nSP135200 &cat=others XVI Growth Markets www.corporate.visitlondon.com/ems/ images/2emerging_preso.pdf XVII Economics Review – South West of England Regional Development Agency - August 2005 http://download.southwestrda.org.uk/file.asp?File=/ other/quarterlyeconomic-reports/economics-reviewthird-quarter-august-2005.pdf XVIII Asia health tourism to reach $4bn - 1st April 2007 http://www.tradearabia.com/news/newsdetails. asp?Sn=HEAL&artid=121180 XIX Traveller Trends for 2007 TripAdvisor http://www.ntaonline.com/index.php?s=&url_ channel_id=19&url_subchannel_id=&url_article_ id=3276&change_well_id=2 XX Goldman Sachs analysis http://www.gs.com XXI UNWTO: China set to surpass Spain by 2010 – January 30th 2007
http://www.travelwirenews.com/cgiscript/ csArticles/articles/000108/010836.htm XXII Climate Change 2007 http://www.ipcc.ch/ XXIII One Planet Living Campaign - World Wildlife Fund www.wwf.org.uk/oneplanet XXIV WorldWatch Institute www.worldwatch.org/ XXV WTTC – Middle East Travel and Tourism Climbing to New Heights www.wttc.org/2006TSA/pdf/World.pdf XXVI Hypersonic Rocket Would Take You from London to New York in Less Than Two Hours http://www.foxnews.com/story/0,2933,253620,00.html Charts Figure 1 WTTC Tourism Satellite Accounting Regional Reports http://www.wttc.travel/eng/WTTC_Research/ Tourism_Satellite_Acc ounting/TSA_Regional_Reports/index.php Government Figures - Sourced from Tourist Ministry Goals and press releases Figure 2 GFF derived figures WTTC Tourism Satellite Accounting Regional Reports http://www.wttc.travel/eng/WTTC_Research/ Tourism_Satellite_Acc ounting/TSA_Regional_Reports/index.php Figure 3 WTTC Tourism Satellite Accounting Regional Reports http://www.wttc.travel/eng/WTTC_Research/ Tourism_Satellite_Acc ounting/TSA_Regional_Reports/index.php
resource
Technology, Sustainability, and Health and Wellness Tourism are top hotel trends for 2013
A recently released report by Timetric identifies Technology, Sustainability, and Health and Wellness Tourism as top trends for 2013 after a worldwide survey of senior executives in hotels and hotel suppliers. 48 arabbusinessclub.org MAY-JULY 2013
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lobal trends for the hotel industry showed environmental initiatives to be the most salient emerging trend in 2013. Technology followed, with social media and Health and Wellness gaining a fair amount of attention. The reigning ‘Environmentally-friendly’ trend, in conjunction with rising sustainable travel interests amongst tourists, continues to drive the reduction of environmental impact, and the promotion of sustainable business practices and green products and services offerings. Eco-friendly cleaning products – a key sustainability measure for hotels in 2013 The use of eco-friendly cleaning products as well as an emphasis on locally sourced food and reduced environmental footprint are considered key sustainability measures by respondents.Low-flow water systems and the adoption of renewable energy for AsiaPacific and energy-related staff education for global respondents, were identified as the key measures to be implemented in 2013. For senior level respondents, credentials and reputation surfaced as the key objectives with a focus on online presence.
organizational expenditure. Increased expenditure on technology and social media Timetric’s report demonstrated that 35 % of luxury respondents expect expenditure increase to be 3–10%. Wi-Fi technology, online reservations, and high-speed internet access being the primary
technological facilities provided to customers by luxury hotels. Correspondingly, flat-screen televisions, Wi-Fi technology, and online reservation are the key technological facilities expected by customers in luxury hotels. In addition to technology, investment on social media and networking sites, mobile, and online portals are
Sustainable measures expected to translate into savings According to Timetric’s report, 35% of respondent segments indicate that they may save less than 5% of total organizational expenditure over the next 12 months ensuing to the implementation of sustainability measures. The regional analysis of cost-saving targets reveals that 59% of respondents from companies primarily operating in Asia-Pacific expect to save 5–10% of their arabbusinessclub.org MAY-JULY 2013 49
resource
expected to increase substantially. Growth of health and wellness tourism 65% of luxury hotels and 32% of other hotels expect health and wellness tourist volumes to grow in 2013. Respondents have already implemented items on their menus to meet the needs of health and wellness tourists. Gymnasiums and swimming pools are considered the key facilities offered by hotels, while free access to health and fitness facilities is a key complimentary facility. For the full report, visit http://timetric. com. Timetric is a provider of online data, analysis and advisory services on key financial and industry sectors. It provides integrated information services covering risk assessments, forecasts, industry analysis, market intelligence, news and comment. 50 arabbusinessclub.org MAY-JULY 2013
The entire travel and tourism industry is paying close attention to the more than 100 million Chinese travelers expected to cross borders by 2020; however, many global hotel brands with Western roots are struggling to cater to the distinct cultural tastes of their new guests. The Center for Hospitality Research interviewed 51 outbound Chinese tour operators to understand what Chinese package bookers seek in their travels and published its findings in its most recent report, Preferences and Attitudes of Chinese Outbound Travellers, highlights of which follow: • Bali, Korea, Macau, and Malaysia will be the most popular Asian destinations, but Chinese travelers will be much
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more interested in international trips. Europe is expected to receive the greatest boost in Chinese tourism, followed by North America. Travel to the United States is weakened due to its arduous visa procedures. Budget is, and will be, the most influential factor when planning a vacation, while Internet is the most influential when choosing a destination. Chinese travelers will allocate most of their budget to lodging and transportation and less on meals and entertainment. The fastest growing segment of Chinese travelers is expected to be families with young children, retired couples, and children.
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Chinese travelers would rather be in the center of a bustling city than in a rural setting and they prefer full-service hotels over resorts. Tea kettles and coffee pots are more important to Chinese travelers than Wi-Fi and storage. Chinese travelers would rather see a buffet-style dining room than sit down for dinner from a celebrity chef. Shopping and beach activities are expected to grow the most while theme parks and gambling increase the least. Chinese travelers prefer hotels designed with local touches and don’t seek out hotels with a traditional Chinese design.
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business tools
Listen and act
In this day and age when word gets around very fast through the web and social media, it is important for companies to manage customer feedback.
R
esearch has shown that a dissatisfied customer is more likely to make a big deal out of his or her bad experience than a satisfied client. For this reason, companies must be able to manage customer feedback, especially during these times when word gets around much faster through the Internet, specifically social media.
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Handling customer feedback in a proactive and efficient manner can be a great tool for business success, not just in putting out the fire as it were. Although most customer feedback is usually about a bad experience with a product or service, this provides the company a chance to right what is wrong and retain a customer. As they say, it is more cost-effective and
profitable for a company to keep a client, than to gain a new one. And so customer feedback must be handled with care, and efficiency. Here are a few tips to make the most out of your customers’ feedback. 1. Track all customer feedback with a system. Sometimes, even a simple spreadsheet will help. You can also have
a feedback management system designed to ensure an even more effective way of addressing complaints and suggestions 2. Good or bad, must be addressed. Thank customers for their positive feedback and suggestion. Other proactive companies even go out of their way by providing incentives to people who share positive experiences they have with a particular product or service. As well, keep an eye on the complaints, however small, and make sure you address them. A lot of the complaints could be small, but the lack of response from a company usually makes things worse – what was once a small problem has now escalated to become a major issue. 3. It would also help to classify those that are urgent and need swift action – a faulty product or service could have wider consumer safety issues so it is best to nip them in the bud. This way, you also manage the fire early enough. Customers who are already dissatisfied will be even more frustrated with nonaction, or a slow response. An efficient and effective reply or solution to their problem will definitely be appreciated and will go a long way in easing or removing their dissatisfaction. 4. Customer interfaces must be trained to handle all complaints. While handling complaints may be the primary responsibility of the customer service department, all staff who have regular interface must be aware of how to handle
complaints. These include the sales staff and the reception. 5. Attitude is key. Customer service staff handling the complaints should not be defensive. It is possible that a product may have a fault or defect. And proper listening could go a long way in addressing the complaint. Most of the time, customer service personnel don’t even bother listening to what the customer’s exact problem is which could lead to offering a no-solution or worse, a wrong solution to customers. 6. Always review and adapt your complaints policy. If a customer’s query was not resolved to their satisfaction, work out why this was the case. 7. Customers need to be reassured that their complaints will be dealt with
swiftly and effectively. Make sure you outline the process as to how their case is going to be handled. 8. Improve your business based on the feedback received. If a complaint has revealed a weak point in the business, use it as an opportunity to improve. 9. Always keep your promises. If a promise is made to call back at a certain time, do so. Failure to keep commitments made could make the situation worse. Often, a customer will just leave and go to your competitors. A complaint properly addressed will win over a dissatisfied customer. 10. And, finally, always thank the customer for their feedback, be it positive or negative.
ht? Are customers always rig This may sound contrary to the oft given advice, but there can be a small percentage of customers who will always be upset or demanding more no matter what you do. The lesson here is: don’t always blame the staff member for poor feedback, but look to understand the context. arabbusinessclub.org MAY-JULY 2013 53
BEST PRACTICE
One of the things that Dubai has done really well is to create an exceptional shopping destination that has undoubtedly positioned it firmly as a global shoppers’ paradise.
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G N I R U D EAK P F OF ES TIM
D
ubai is the poster city for shopping success. Its massive Dubai Shopping Festival event which happens in the early part of the year has become one of the city’s shining achievements. The success of DSF has spawned similar other events and festivals, such as the Dubai Summer Surprises, that have since filled Dubai’s calendar, guaranteeing an influx of tourists throughout the year, peak season or not. This makes the city an excellent case study for driving footfall – whether as plain tourists and shoppers, or even investors. So, how do you drive people to get into your store? Or country, in the case of the UAE? The most obvious answer is to give them a reason to come. One of the most effective ways to do this is to offer them an incentive. Here, Dubai has dangled before tourists and shoppers the most exciting promotional prizes, irresistible packages, and massive discounts. How can you refuse? Developing promotions can be a creative challenge – incentives do not necessarily have to come in the form of prize money. It can be a bonus of a product or service you are offering or a tie-in with another
product or service provider. Implementation will also require strategy. Off peak periods can be anticipated and therefore planned for ahead of time. If there are enough resources, any intervention or initiative can be planned out for the entire year. Plot the holidays and the slow periods and see what programmes you can implement to ensure a steady footfall throughout the year. The more efficient way of doing this is to look at your sales records – plot the ones which fall below expectations or quotas and build an intervention programme that will drive footfall again. And since the smartphones are now dime a dozen, think of how you can leverage this technology to support your marketing efforts. This can be helpful in narrowing down your efforts, as smartphone users are more likely to have the purchasing power that you want. Another popular technique that most shops use is to set up clubs – this can be very useful in a number of ways. One, you get to generate a useful database that you can tap not just for driving people to your store. Club members are also almost always passionate about their affiliation to a particular organisation,
so you can almost guaranteed you have a steady stream of clients coming into your store once you have your club meetings or activities. For traditional retailers, the increasing popularity of online shopping can be a bane. The trick here is to use experience marketing – make the shopping experience even more attractive for your customers. Online shopping is a convenient way to shop, but there are ways to entice them to go out and visit you once in a while. How about a free footspa for VVIP clients once they’re in your shop? Or styling consultancy for your big fashionista spender? Some creative retailers are also creating pop-up stores – this way they can bring the store closer to consumers. There are a variety of proven techniques for driving footfall. See what works best for your product or service, and for your budget. Once the customers are in your store, make sure to keep them coming back for more. arabbusinessclub.org MAY-JULY 2013 55
luxury
Revealed
– the world’s most expensive hotel suites Whether for business or leisure, travelling becomes all the more pleasurable when you happen to stay in one of these ultra luxurious suites. Something worth considering if you want to pamper yourself or your loved ones for a future holiday or business trip. Royal Penthouse Suite, Hotel President Wilson, Geneva (US$65,000 per night) Known throughout the world as the largest and most luxurious of hotel suites, the Royal Penthouse Suite covers the hotel’s highest floor. A dedicated elevator will whisk guests right to this mini paradise filled with the most lavish amenities and features – billiards, grand piano, and its own fitness centre. It also has magnificent panoramic views of Lake Geneva and Mont Blanc. Another thing VVIP guests would love about this suite – it’s got bulletproof doors and windows. +41 22 906 6666; HYPERLINK “http:// www.hotelpwilson.com/en/” \t “_blank” www.hotelpwilson.com
The Presidential Suite, The Raj Palace Hotel, Jaipur, India (US$45,000 per night) It’s a suite worthy of its name – presidential. This luxurious haven has four floors connected by a private elevator and has its own dedicated entrance. The décor shimmers in gold and ivory, yet elegantly and intricately designed. It boasts amenities and features fit for a king – lavish bedrooms, kitchens and lounges as well as opulent dining areas. It also has its own private roof terrace and swimming pool offering panoramic views of the pink city of Jaipur, as well as its own private museum. + 91 141 2634077; HYPERLINK “http:// www.rajpalace.com/hotel-raj-palace.html” \t “_blank” www.rajpalace.com
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Ty Warner Penthouse Suite, Four Seasons Hotel, New York (US$41,836 per night) Known throughout the world as the largest and most luxurious of hotel suites, the Royal Penthouse Suite covers the hotel’s highest floor. A dedicated elevator will whisk guests right to this mini paradise filled with the most lavish amenities and features – billiards, grand piano, and its own fitness centre. It also has magnificent panoramic views of Lake Geneva and Mont Blanc. Another thing VVIP guests would love about this suite – it’s got bulletproof doors and windows. +41 22 906 6666; HYPERLINK “http:// www.hotelpwilson.com/en/” \t “_blank” www.hotelpwilson.com
Penthouse Suite, Hotel Martinez, Cannes, France (US$37,500 per night) Hotel Martinez has a Michelin-starred restaurant, piano bar and huge private beach all as part of the penthouse suite. Decked out in art deco style, guests have practically a house with a sitting room, dining room, two bedrooms, two bathrooms with hammam, shower, spa bath, dressing room and sauna at their disposal, as well as a huge terrace overlooking the Bay of Cannes. +33 4 92 98 73 00; HYPERLINK “http:// www.hotel-martinez.com/” \t “_blank” www.hotel-martinez.com
Royal Suite, Burj Al Arab, Dubai (US$18,716 per night) Dubai’s very own. The iconic, sail-shaped Dubai resort has been a benchmark of no-holds-barred extravagance that others have tried and failed to emulate. All of the suites -- the word “room” does not exist here -- are arranged over two floors and have whirlpool baths, living and dining areas and dedicated butlers. +971 4 301 7777; HYPERLINK “http:// www.jumeirah.com/hotels-and-resorts/ destinations/dubai/burj-al-arab/” \t “_ blank” www.jumeirah.com
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members’ exclusive
1 2 3
Arab Business Club is now providing its members with the unique service of securing a 30 days tourist visa to the UAE, hassle free and for a special rate of US 220$ only. For more information, please send your inquiries to visa@arabbusinessclub.org
4
Arab Business Club is now providing its members with the unique service of offering special rates on hotel book ing and reservations. We provide reservation in 5 and 4 star hotels and luxury hotel apartments, throughout the UAE. Options for short, long or permanent stay are avail able. For more information, please send your inquiries to hotels@arabbusinessclub.org
Arab Business Club is now providing its members with unique transportation services that include: - Airport Pick-up. - Limousine service with driver. - Car rental services. We provide only the latest and most luxurious car and limousine brands, giving you an unmatched list of premium options to choose from. For more information, please send your inquiries to car@arabbusinessclub.org
58 arabbusinessclub.org MAY-JULY 2013
5
Arab Business Club, the premier global business leaders’ com munity, is proud to provide its members with comprehensive and custom-tailored business setup and counseling services that include: - Helping with license documents and requirements. - Providing influential and trustworthy local partners. - Business counseling services (Business ideas, investment opportunities, business buying/ selling, feasibility studies, market research, etc.) - Hiring and employment services. For more information, please send your inquiries to setup@arabbusinessclub.org
Arab Business Club is proud to provide its members with special rates on some of the UAE’s most attractive and sought after tour and safari programs. The offer includes plenty of unique and carefully planned activities: - Desert Safaris (different programs available) - Shopping Tours - Tours of all UAE cities Adventures (several programs available) - Cruise ship Tours For more information, please send your inquiries to tours@arabbusinessclub.org.
JUNE
17 MON
Arab Business Club 2nd Annual Banking and Finance Event – 17th June 2013 The 2nd Annual Banking and Finance Event will bring together the Arab Business Owners, C Level Management of Companies within Banking, Finance, and Investments in Banks and Stock Markets. The program for the 2013 Banking and Finance Events is designed to focus on important current issues in banking and finance. EVENT DETAILS: Date: 17th June 2013 Venue: Dubai, UAE
Arab Business Club Health Care Event – 11th September 2013 The Health & Care Event aims to be the foremost annual gathering of the Arab Business Owners Business owners and C level management Hospitals, Ministry of Health, Health Care City Hospitals, Pharmacies, Doctors, Medical Suppliers, Medical Universities, and Medical HR. The program for the 2013 Health & Care Event is designed to provide an unrivalled platform for the world’s leading manufacturers, wholesalers and distributors to meet the medical and scientific community from the Middle East and beyond. EVENT DETAILS: Date: 11th September 2013 Venue: Dubai, UAE
EVENT DETAILS: Date: 13th November 2013 Venue: Dubai, UAE
11 WED
OCT
2013
Arab Business Club 2nd General Networking Event– 13th November 2013 The 2nd General Networking Event aims to be the foremost gathering of the high-profile business leaders, key investors and developers from different business sectors. The program for the 2013 General Networking Event is designed to unlock business potential within the Middle East for different business sectors. .
SEPT
NOV
13 WED
9
WED Arab Business Club General Networking Event – 9th October 2013 The General Networking Event aims to be the foremost gathering of the high-profile business leaders in U.A.E. The program for the 2013 General Networking Event is designed to focus on the economic prospects of U.A.E. EVENT DETAILS: Date: 9th October 2013 Venue: Dubai, UAE
DEC
11 WED
Arab Business Club 2nd Annual Energy, Oil and Gas Event – 11th December 2013 This event aims to be the foremost gathering of Business owners and C level management Oil and Gas Industries, Petroleum Companies, Oil Logistics and Investors in Oil and Gas. The program for the 2013 Energy, Oil & Gas Meeting is the place where oil and gas industry professionals get together to experience, discover, network, discuss and debate core industry issues. EVENT DETAILS: Date: 11th December 2013 Venue: Dubai, UAE
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OPPORTUNITIES TOURISM
TOURISM
SUPPLIER
Reference Code : abc128
Reference Code : abc129
Reference Code :abc130
Dubai : Partner for a Tourism Company
Abu Dhabi : Partner for a Tourism Company
UAE: Importer for livestock from Angola
Description Leading and established tourism company in Dubai with its own compound is looking for a partner.
Description Leading and established tourism company in Dubai with its own desert compound and contracts with leading airlines is looking for sale.
Description We need an importer for livestock from Angola
The offer Cost : US$1-2m Contact: hamdan@imail.ae Mobile : +971508864116
The offer Cost : US$12m Contact: hamdan@imail.ae Mobile : +971508864116
The offer Cost : US$12m Contact: hamdan@imail.ae Mobile : +971508864116
SUPPLIER
SUPPORT SERVICES
SERVICES
Reference Code : abc131
Reference Code : abc132
Reference Code :abc117
UAE: Importer for timber from Angola
Angola: Marines Service and Maintenance
UAE : Business Set Up Service
Description We need an importer for timber from Angola
Description We need an investor for a service facility for yachts and fishing boat engines in Angola
The offer Cost : US$12m Contact: hamdan@imail.ae Mobile : +971508864116
The offer Cost : US$12m Contact: hamdan@imail.ae Mobile : +971508864116
Description Complete solution for setting up your company in UAE, including company formation service, sponsor/service agent; PRO services, market research etc. Please contact us at hamdan@imail. ae Mobile : +97155 9687177
DISTRIBUTION
MANUFACTURING
SECURITY
Reference Code : abc115
Reference Code :abc137
Description We cover distribution of magazines to government,companies embasies and consulates, hotels, airport lounges, etc in UAE. We also handle distribution to Bookstores, fuel stations and other places that sell magazine. We also use distribution of magazine via Emirates post. We can send to our list, or you can provide us with your list. We can handle the National media council approvals for distribution as well.
Reference Code : abc121 UAE : Furniture Factory for Sale Description Furniture factory for sale with valid company trade license, 15 staff, accommodation : 6 rooms attached to factory : carpentry area, upholstery area, curtain area, painting area The factory manufactures the following: doors, dressing rooms, sofas, wooden door, curtains, & all related furniture types area of the factory is 1500 sq m and it is located in Um Al Quwain The Offer Cost : US$ 190.500
Contact: hamdan@imail.ae Mobile : +971508864116
Contact: hamdan@imail.ae mobile : +971508864116
UAE : Magazine Distribution Service
60 arabbusinessclub.org MAY-JULY 2013
UAE: Security Company For Sale Description Security company based in Dubai trading successfully for 9 years with 90 employees. Has a clear history with government departments in Dubai. All security guards certified by the Department of Protective Systems and fully trained. Well established existing contracts. The offer price: AED 2,300,000 Contact: hamdan@imail.ae Mobile : +971508864116
MANUFACTURING
INDUSTRIAL
Reference Code :abc143
Reference Code :abc144
Kenya: Manufacturing of fertilizers
Kenya: Cement manufacturing
Description Fertilizer is one of the major farming inputs in the country and it is widely used. Kenya and the Eastern African region do not have a fertilizer manufacturing plant. All fertilizers used in the region are imported. Kenya’s annual fertilizer consumption is 532,000 Metric Tons. There is potential to increase this to over 1 million Metric Ton to increase agriculture productivity. A feasibility study is complete which proposes three types of plants that can manufacture 350,000 Metric Tons of fertilizer per year locally. Through the fertilizer cost reduction initiative identified under the Vision 2030, a fertilizer manufacturing and blending plant in Mombasa and Nakuru to serve the local and regional demand would be a feasible investment opportunity to be undertaken under Public-Private Partnership.
Description The cement manufacturing industry is identified as one of the core industrial sectors in Kenya, with ample scope to boost the other sectors of the economy, especially in the building and construction industry. There is growing demand for cement from within and outside the country from places such as Southern Sudan, Rwanda and Burundi. There is need for additional investment to cover the existing gap. New areas with investment opportunities in this sector are West Pokot, Koru (Kisumu), Athi River and Shimoni in Coast Province. The market for this sector is both local and also exports to EAC and COMESA countries. Contact: info@wt.ae Mobile: +971508864116
The offer price: CAN only - USD278 million DAP only - USD115 million Combination of CAN and DAP USD393 Contact: info@wt.ae Mobile: +971508864116
MANUFACTURING
MANUFACTURING
Reference Code :abc145
Reference Code :abc146
Kenya: Sheet Glass Production
Kenya: Aluminium Can Production
Description Currently Kenya has no sheet glass plants. There is growing demand for sheet glass due to increasing construction activities. Kenya has capacity to produce sheet glass because there is Soda Ash production at Lake Magadi. The market for this will be local, for EAC and also COMESA countries. The location for this industry which is viable is Magadi and Machakos.
Description In Kenya and East Africa region, all cans for use in packaging of canned beers and soft drinks are imported. Consumption of canned beverages is becoming very popular. Export of Kenyan beers in bottles is being hampered by the limitations of glass, which include bulkiness and breakages. The production of beers and carbonated beverages in Kenya has grown tremendously over the years. Investors are invited to put up an aluminum canning plant, which can also cater for the needs of Uganda, Tanzania, Mauritius, Rwanda and Burundi.
Contact: info@wt.ae Mobile: +971508864116
Contact: info@wt.ae Mobile: +971508864116
To list your classified ad contact: ads@arabbusinessclub.org Rate: $100 per listing
arabbusinessclub.org MAY-JULY 2013 61
OPPORTUNITIES TOURISM Reference Code :abc147 Kenya: Cruise-ship Project on Lake Victoria Description Lake Victoria, which is the largest fresh water lake in Africa and second in the world, holds great potential to link the three East African states. The resources of the Lake have not been fully tapped. Potential exists for the development of cruise ships, water sports and floaters on the surface of the lake. The beaches along the shores are also ideal for hotels and clubs. Away from the lake shores, opportunities for lodges, tented camps and land sports exist for exploitation. For all these to be developed, there is need to provide adequate supportive infrastructure. The lake region embraces the Western Kenya zone which is not well developed in terms of tourist activities. Given the above account that gives a brief touristic scenario of the Region, the cruise ship project proposed hereunder for development could be considered. There is an existing demand for cruise
ship facility in this region. The project involves the installation of a luxury passenger vessel (5-star floating hotel) for upper class tourists comprising of 40 double cabins to accommodate 80 passengers. The floating hotel will provide additional accommodation facilities complementing the existing capacity in the region which is already overstretched. Luxury passenger boats can also be operated between Kisumu and Muhuru bay with existing stopovers at Kendu Bay, Mfangano Island and Rusing Isaland all along the Lake shores. Now that the East African Co-operation (a regional economic integration organization for Kenya, Uganda and Tanzania) has been set-up, the operation of the proposed Lake Victoria cruise ship can also be extended to cover Uganda and Tanzania over time.
Possible Project site: The project will be operating in the waters of Lake Victoria with its operational base being at Kisumu Town on the shores of the Lake. Project Estimated Cost: The project is estimated to cost US$ 2 million including the cruise-ships, luxury boats, furnishing fixtures and working capital. Contact: info@wt.ae Mobile: +971508864116
MEDICAL TOURISM
TOURISM
TOURISM
Reference Code :abc148
Reference Code :abc149
Reference Code :abc150
Kenya: Health Spas
Kenya: Tana River Primate Lodge Project
Kenya: Development of Duty Free Port at Dongo Kundu
Description This is expected to be 50 rooms 3-star lodge located at a suitable site within the Tana Primate National Reserve in the Eastern Tana Basin. The development aims at Market: expansion as the park is located near existing coast tourism region. There is potential for development of other existing tourism products especially rafting and river cruising.
Description Development of a Duty Free port/special economic zone within Mombasa at Dongo Kundu is one of priority projects under vision 2030. A total of 3000 acres of land is available for investment in Dongo Kundu, south mainland. The government has completed a feasibility study and a master plan for the project. The actual implementation of the project will be done under public private partnership framework. Therefore, investors are welcome to participate in the actual infrastructure development and the operations of duty free port/special economic zone.
Description Description: Kenya has plenty of geothermal springs whose mineral contents have the potential for the development of health spas to serve as tourist attractions as well as curative centers. Geothermal mineral water springs are found in arid and semiarid areas such as Baringo and Turkana Districts within the Great Rift Valley and parts of Homa Bay District along the shores of Lake Victoria. These can be developed into very popular health spas. Contact: info@wt.ae Mobile: +971508864116
Contact: info@wt.ae Mobile: +971508864116
Contact: info@wt.ae Mobile: +971508864116
List your ad here so it can be seen by thousands of investors and business men all over the world. Contact: ads@arabbusinessclub.org 62 arabbusinessclub.org MAY-JULY 2013
ABC Latest Member List
NAME
COMPANY
DESIGNATION
LOCATION
INDUSTRY
Shyh-Perng Chang
Taiwan Trade Center - Dubai Office
Director
U.A.E.
Trade
Mohamed Damak
Tunisian Business Council - Abu Dhabi
Chairman
U.A.E.
Non-Profit Organization
Telephony Communication Technology
Managing Director
U.A.E.
Telecommunications
Mareb Trading & Development Corp.
General Manager
U.A.E.
Trading
Dr. Wael Suleiman
Polish Business Group- Abu Dhabi
Chairman
U.A.E.
Non-Profit Organization
H.E. Yuriy Polurez
Embassy of Ukraine in the United Arab Emirates
Ambassador
U.A.E.
Government
Samir Abdul Hadi
SAMTECH Middle East
Owner/CEO
U.A.E.
IT Service Providers
Abdalla Al Owais
Sharjah Islamic Bank
Head of Wealth Management
U.A.E.
Banking
Dr. Ahmed Amer
Polish Business Group- Abu Dhabi
Vice Chairman
U.A.E.
Non-Profit Organization
Khalid Salim Al-Suwaiket Group Est.
Chairman
K.S.A.
Conglomerates
Mohammed Shafi Abdullah
Abdulla Saleh Alshaba
Khalid Salem Al-Suwaiket
arabbusinessclub.org MAY-JULY 2013 63
RESOURCES - CONTACTS RESOURCES-CONTACTS
Arab Chambers of Commerce & Industry ALGIERS CHAMBER OF COMMERCE Chambre de Commerce Palais Consulaire B.P. 100 - Alger Ier Novembre 6, Bd Amilcar Cabral, Bab-El Oued. Algiers, Algeria Phone: (213) 2-574444 Fax: (213) 2-629991 BAHRAIN CHAMBER OF COMMERCE & INDUSTRY PO Box 248, King Faisal Highway Manama, Bahrain Phone: (973) 229 555 Fax: (973) 224 985 DJIBOUTI CHAMBER OF COMMERCE Place de LaGuarde PO Box 84 Djibouti, Djibouti FEDERATION OF EGYPTIAN CHAMBERS OF COMMERCE 4, Midan El Falaki Street Cairo, Egypt Phone: (202) 3551164 Fax: (202) 3557940 FEDERATION OF IRAQI CHAMBERS OF COMMERCE P.O. Box 11348 Mustansir Street Baghdad , Iraq Phone: (964) 1-8888850 Fax: (964)1-8882305 FEDERATION OF JORDANIAN CHAMBERS OF COMMERCE PO Box 7029 Amman, Jordan Phone: (962) 6-665492/674-495 Fax: (962) 6-685997 KUWAITI CHAMBER OF COMMERCE & INDUSTRY Chamber’s Building Ali Al Salem Street. PO Box 775 13800 Safat, 13091 Kuwait Phone: (965) 2439155/2468934 Fax: (965) 2452080 arabbusinessclub.org MAY-JULY 2013 64 arabbusiness
BEIRUT CHAMBER OF COMMERCE & INDUSTRY PO Box 11801, Samayah 2100, Justinian Street Beirut, Lebanon Phone: (961) 1-353390 Fax: (961) 1-866802 GENERAL UNION OF ARAB CHAMBERS OF COMMERCE, INDUSTRY & AGRICULTURE P.O. Box 2837-11 Beirut, Lebanon Phone: (961) 1-814269 FEDERATION OF CHAMBERS OF COMMERCE, INDUSTRY & AGRICULTURE P.O. Box 2321 Tripoli, Libya Phone: (218) 21-33755
MAURITANIA CHAMBER OF COMMERCE & INDUSTRY PO Box 215 Avenue de la Republique Mauritania, Mauritania Phone: (222) 2-52214 Fax: (222) 2-53895 FEDERATION OF MOROCCAN CHAMBERS OF COMMERCE 6 Rue Erfoud PO Box 218 Rabat, Morocco Phone: (212) 7-767051 Fax: (212) 7-767076 OMAN CHAMBER OF COMMERCE AND INDUSTRY PO Box 4400 Ruwi, Muscat, Oman Phone: (968) 707674/684/694 Fax: (968) 708497 QATAR CHAMBER OF COMMERCE & INDUSTRY PO Box 402 Doha, Qatar Phone: (974) 324347/326366 Fax: (974) 324338
COUNCIL OF SAUDI CHAMBERS OF COMMERCE & INDUSTRY PO Box 16683, Riyadh, 11474 Saudi Arabia Phone: (966) 1-4053200 Fax: (966) 1 4024747 MOGADISHU CHAMBER OF COMMERCE INDUSTRY & AGRICULTURE P.O.Box 27 Via Asha Mogadishu Somalia Phone: (252) 3209 SUDAN CHAMBER OF COMMERCE PO Box 1701 Khartoum, Sudan Tel: 249-1172345 FEDERATION OF SYRIAN CHAMBERS OF COMMERCE Damascus - Mousa Ben Nousair St. P.O. Box 5909 Phone No. 0096311 3311504 / 3337344 Fax No. 0096311 3331127 TUNISIAN UNION OF INDUSTRY, COMMERCE & HANDICRAFTS 103 Avenue De La Liberte Tunis, Tunisia Phone: (216) 1-780366 Fax: (216) 1-782143 FEDERATION OF THE U.A.E CHAMBER OF COMMERCE & INDUSTRY. PO Box 3014, Abu Dhabi United Arab Emirates Phone: (971) 2-214144 Fax: (971) 2- 339210 FEDERATION OF YEMEN CHAMBERS OF COMMERCE & INDUSTRYPO box 16990, Hasaba, Airport Road Sana’a Phone: (967) 1-223539 Fax: (967) 1-251551
BUSINESS CLUB
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BUSINESS CLUB MAGAZINE
Arab Business Club Magazine is a monthly, market intelligence publication dedicated to members of the Arab Business Club and the international business & investment community. The magazine has a print run of 25,000 copies. With distribution in:
Royality and Sheikh’s Palaces
Onboard TAAG Airlines flights
Top Government Offices
International Corporations
First Class and Diplomatic Airport Lounges
Top Arab Business Leaders
International Events
Embassies
ABC Members World Wide
Investment Agencies
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5-Star Rated Hotels
Media Agencies
Business Councils
Corporate Events
Onboard Etihad Airlines flights
ABC Magazine provides its classy readers with news updates, trend setting market intelligence, expert analyses, sector reviews, corporate investment opportunities, launches, event updates and many more. This one-stop resource provides an end-to-end marketing, linking between industry analysts, corporates, government officials and decision makers. It is the only publication where internationl advertises can reach the Arab decision maker and vice versa.
DISTRIBUTION SOUTH AMERICA
AFRICA
RUSSIA & CIS
MENA
ASIA
NORTH AMERICA
EUROPE
READERSHIP With a print run of more than 25,000 copies per month, the Arab Business Club Magazine is read by elite decision makers in all industries and sectors including: Company Owners, CEO’s, Top Level Executives, Government Officials.
FOR ADVERTISING ENQUIRIES CONTACT Arab Business Club
Northern Star Publishing & Distributions
Tel: + 971 4 3583000; Mob: +971 50 703 6116
P.O. Box : 2188, Dubai - UAE. Tel: + 971 4 3583000; Mob: +971 50 1598118 Email: abc@northernstar.ae Web: www.northernstar.ae
ads@arabbusinessclub.org ; Web: www.arabbusinessclub.org arabbusinessclub.org MAY-JULY 2013 64 Email:
Red Carpet Be treated like royalty when you step on the “Red Carpet� Sharjah Islamic Bank’s tailored package with countless benefits only YOU can enjoy. Transfer your salary to Sharjah Islamic Bank and enjoy a host of exclusive benefits the “Red Carpet� package has to offer. “Red Carpet� Privileges: ‡ $ PDVVLYH GLVFRXQW RQ ILQDQFH SURGXFWV ‡ )DFLOLWLHV WR QRQ FRQILUPHG 8$( 1DWLRQDOV ‡ $GGLWLRQDO ILQDQFHV ‡ 6DODU\ DGYDQFH ‡ 7UDQVIHU RI /LDELOLWLHV IURP RWKHU EDQNV ‡ 5HGXFHG 0LQLPXP VDODU\ RQ ILQDQFHV ‡ )UHH XQOLPLWHG $LUSRUW /RXQJH DFFHVV ‡ =(52 0LQLPXP EDODQFH ‡ )UHH &UHGLW &DUG ‡ )UHH :DWDQL 3UHSDLG &DUG ‡ )UHH 606 EDQNLQJ Call us on to walk on the “Red Carpet� :LWK PLQLPXP RI UHGXFLQJ IRU 3HUVRQDO )LQDQFH DQG UHGXFLQJ IRU &DU )LQDQFH $YDLODEOH IRU VWDII RI *RYHUQPHQW 6HPL *RYHUQPHQW DQG VHOHFWHG FRPSDQLHV SOHDVH FDOO WR FRQILUP
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68 arabbusinessclub.org MAY-JULY 2013