Colors: Orange Color

According to a new report, issued ahead of Arabian Travel Market 2018, recent reforms in Saudi Arabia – not to mention widespread investment in the Kingdom’s burgeoning tourism industry – will drive growth in the hospitality market of 13.5% compound annual growth rate (CAGR), higher than the established markets of the UAE (10.1%) and Oman (11.8%).

The global market has been spooked by recent developments in the US where rising wage pressure at a time of low unemployment and tax cuts is raising concern. The S&P 500 entered into correction territory after falling 10%  from its January 26 high, and with bonds also falling, commodities suffered another week of sharp losses.

Renewed risk appetite has been led by the recovery in global stocks which posted their best week of gains in six years. The dollar hitting its lowest level since 2014, together with a rising inflation focus, supported a strong week for commodities with funds continuing to have an appetite for broad-based commodities funds. Gains were seen across all sectors with industrial metals on top ahead of the Chinese Lunar New Year holiday.

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