Experts shone a spotlight on the Middle East’s travel investment ecosystem at Arabian Travel Market (ATM) 2024, last week.
Panellists speaking during the exhibition’s entrepreneurship summit said levels of industry funding are growing in the region but that more needs to be done to support travel startups.
The speakers included Margaux Constantin, partner of McKinsey & Company; Danny Cohanpour, CEO of Trove Tourism Development Advisors; Charaf El Mansouri, co-founder and CEO of Dharma; Mona Faraj, co-founder and CEO of ExploreTECH; and Amna Al Redha, manager of AviationXLab, which is part of the Emirates Group Future Technology and Innovations team.
This talking point is illustrated through data. According to figures from McKinsey & Company, the Middle East’s contribution to global travel revenues currently stands at approximately 5%, which is comparable to the proportion of international startup funding it is attracting.
While levels of investment have increased significantly in…
