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<title>Asia&Pacific 2024 Meetings &amp; Events Trends</title>
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Last year, the sector grew by more than a quarter (26%) to contribute a record&breaking AED 220BN to the UAE’s GDP representing 11.7% of the entire economy. This exceeded the previous record set in 2019 by almost 15% and underscores the sector’s pivotal role in the nation’s economic framework.
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Helped by the total solar eclipse, U.S. hotel performance increased from the previous week, according to CoStar&apos;s latest data through 13 April.
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Slightly more conservative across the board, yet positive in outlook, European meeting professionals expect a moderate increase in activity level compared to North and Latin American regions. However, high levels of optimism regarding the overall health of the industry are firmly in place. 79% said they would rank their confidence level as 8 or higher on a scale of 1 to 10.
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The volume of U.S. hotel rooms under construction grew year over year for the first time since June 2023, according to CoStar’s March 2024 data.
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UN Tourism has partnered with the European Committee of the Regions for a comprehensive study of the significant impact and potential of tourism in fostering socio&economic development in rural areas.
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xpect to see a rise in the price of large hotels and a decline in prices for small hotels next quarter based on our leading indicators of hotel price performance.
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Most of the largest global countries saw RevPAR decline as well, which is in line with past years and the Easter holiday.
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