The Middle East’s tourism industry is losing $600 million per day, in terms of lost visitor spending, according to the Financial Times, citing World Travel & Tourism Council data. The trade body had previously predicted $207 billion in tourism spending this year.
The drop assumes nothing is being spent in the sector, which isn’t likely. But airlines have had to trim their schedules, and airports are prone to closures if drones are nearby. On the ground, premium venues are being hit hard in what should have been peak season, and more than 80,000 short-term rental bookings in Dubai were also cancelled in the first week of Iranian airstrikes alone.
When peace returns, it will take time for the Gulf states to rebuild their reputations for sunny, tranquil luxury, with tourists from within the region expected to start rebooking first. In the meantime, others are picking up some of the slack. European carriers are adding capacity on routes to Asia for passengers unwilling or unable to transit through the Gulf, using aircraft that would usually be heading to Doha or Dubai.