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Arabian Hotel Investment Conference Official Daily Newspaper 4 May 2008
www.breakingtravelnews.com OFFICIAL DAILY NEWSPAPER
Jonathan Worsley talks to BTN page12-13
Gulf aviation - bucking a big trend page24-26
BTN interviews Gerald Lawless page28-29
AHIC unlocks the Indian enigma Releasing India’s potential was the hot topic of the first day of the 4th Arabian Hotel Investment Conference (AHIC) in Dubai. The country’s hospitality industry is poised for explosive growth that experts predict will mirror the Middle East’s booming travel and tourism market. Martyn Lewis CBE, Veteran Newsbroadcaster & Former BBC News Presenter chaired The Summit on India yesterday
Dubai UAE Opening the inaugural India Summit, veteran TV anchorman Martyn Lewis remarked on its poignant timing: this weekend Northern India has experienced widespread rioting as a backlash against the government’s failure to address basic infrastructure, most notably electricity and water shortages. Martyn Lewis said the crucial point for delegates rested on the government’s pledge to provide “power for all” by 2012, weighed against analyst predictions that it will struggle to keep up with the insatiable demand for electricity of India’s burgeoning middle class. “Therein lie’s the dilemma for India over the next four to six years,” he said. A panel of distinguished experts added further insight into India’s growing pains, debating whether
the country was at a tipping point ahead of unprecedented investment opportunities. Keynote speaker and chief bull was economics guru Surjit Bhalla. He said that despite the collapse of the U.S. subprime market and banking crises, the rise of the Indian and Chinese economies would collectively offset any global recession.
over 40% today, accompanied by the creation of an overwhelming purchasing power.
highlighted other obstacles as the shortage of skilled labour and an over-supply of real estate.
“This middle class demands changes in policies and structure, and only then do governments react and make reforms. It’s not a bird, it’s not a plane, it’s the Indian middle class,” he added.
Away from the forum, the 4th AHIC teed off in style at The Montgomerie Championship Golf Course, with some hard drives, short putts and even the occasional birdie. The overall winner of the golf competition was Malcolm Kerr of Mövenpick Hotels & Resorts.
He said: “Once upon a time, when the U.S. sneezed the world caught pneumonia. However history is unlikely to repeat itself because the world is now a significantly different place. The difference is China and India – they collectively contribute to 20% of global GDP compared to 9% just ten years ago.”
Recent figures support this optimism with room rates in the major metropolitan centres rising nearly 40% year on year while global names such as Shangri-La, Four Seasons, Marriott and Hilton having all announced major expansion plans for India.
The driving force behind the current economic miracle in India, as well as China, is the middle class, he continued. This has grown from 2% in 1980 to
Abhjiit “Beej” Das, Managing Director of Molinaro Koger, took a more bearish tack, arguing that falls in US stock markets still reverberate in India. He
Then at sundown the Madinat Jumeirah transformed into a sumptuous banquet of fine international cuisine fused with local Arabian dishes. The accompanying cocktails were equally sophisticated. Let’s hope their after-effects won’t stymie what promises to be another day of intense debate.
INSIDE: World Travel Awards Grand Tour 2008 “Celebrating 15 Years of Excellence”
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