![](\"https:\/\/www.arabianbusiness.com\/public\/images\/2020\/12\/15\/Dubai-tourism.jpg\")
<\/p>\n\nNew research says hotel sector is likely to account for $15bn of GCC tourism losses in 2020<\/p>\n
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The Gulf’s travel and tourism industry may have lost up to $60 billion during 2020 due to the ongoing restrictions related to the global coronavirus pandemic.\n<\/p>\n
Consultants Frost & Sullivan said in a new research report that the sector’s financial loss is expected to reach $50-50 billion, with hotels likely to account for up to $15 billion of the losses.\n<\/p>\n
Frost & Sulllivan said the growth in the tourism and travel sector in the GCC region was about 10 percent during the past five years.\n<\/p>\n
Based on this growth, it was expected that the entire spending on traveland tourism in the region would have reached $110 billion in 2020 but coronavirus dramatically changed things.\n<\/p>\n
“As consumers step out of their homes, maybe for the first time since global lockdowns, they will still want the luxury of a hotel stay but would wish to limit their exposure to other guests beyond their families,” Frost & Sullivan said.\n<\/p>\n