Forbes Middle East has revealed its flagship ranking of the Top 100 Travel and Tourism Leaders in the Middle East, spotlighting the leaders enticing travelers to its shores and redefining the region’s status on the world stage.
To construct this list, Forbes Middle East looked at the size of the business—including revenues, the value of investments and assets, the number of hotel keys—ownership of assets, and the experience, designation, and achievements of the business leader.
All individuals had to be based in MENA.
Executives on this list represent nine countries in the region. Of the 100, 54 leaders are based in the U.A.E., followed by 19 in Saudi Arabia and nine in Egypt.
Combined, these three countries account for 82% of the ranking. With 50 entries, hotels and resorts make up the bulk of the list. Airlines and tourism development follow in popularity in the list, at 17 and 11 entries, respectively.
Ahmed bin Saeed Al Maktoum, Chairman and Chief Executive of Emirates Airline and the Emirates Group, topped the list. Emirates has the world’s largest fleet of Boeing 777s and Airbus A380s.
As of December 2023, it had a fleet of 260 aircraft in service and flew between 143 destinations.Saudi Tourism Authority CEO Fahd Hamidaddin and Helal Saeed Almarri, Director General of the Dubai Department of Economy and Tourism, round up the top three.
Across the travel and tourism ecosystem, industry heavyweights have been involved in a flurry of deals, promising further growth for the region.
For instance, Humaid Matar Al Dhaheri led ADQ and ADNEC Group to sign a definitive agreement to acquire a 40.5% stake in Hisham Talaat Moustafa’s TMG Holding’s hospitality arm, the ICON Group. Similarly, Kabir Mulchandani’s FIVE Holdings bought The Pacha Group, encompassing its hotel and nightclub ventures.
On the tourism development front, Raki Phillips played a key role in securing one of the largest foreign direct investments in Ras Al Khaimah to date: a $3.9 billion deal with Wynn Resorts to develop a 1,500 key integrated resort on Al Marjan Island.
