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Pent-up demand may lead to vigorous recovery in Gulf travel, tourism, hospitality sectors in the second half of 2021
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Recovery will ride on increasing adoption of technology
The Gulf Cooperation Council (GCC) countries are experiencing a fast economic recovery and the pent-up demand could manifest in a vigorous recovery in travel, tourism, and the hospitality sector in the second half of 2021, according to POSist.
India-based POSist Technologies offers cloud-based restaurant management software. POSist’s technology platform is used by more than 9000 restaurants across the Middle East, UK, US, South East Asia and Latin America, including such renowned brands as Taco Bell and Barbeque Nation.
The company said in a statement that Food & Beverages (F&B) businesses in the UAE, Saudi Arabia and Qatar await a season of boost in business.
A recent study by Dubai Statistics Center estimates growth to accelerate to 4% in the Emirate by 2021. Dubai’s tourism industry will be looking to consolidate its gradual return to form ahead of the Expo event and the UAE’s 50th-anniversary celebrations later this year. Further, Qatar’s preparations leading up to hosting the FIFA World Cup 2022, the first in the Arab World and the Middle East, are increasingly opening business opportunities across sectors, including hospitality & restaurant business.
GCC food industry is at a point where contactless dining, guest experience, multichannel delivery and take-out services have become necessary to serve the customers’ changing behaviors.
Restaurants are now turning to technology more than ever to spring back to growth, it said.
POSist Restaurant Industry & Market Evolution (PRIME) Report, released earlier this year, highlighted that seven out of ten restaurants in the UAE are willing to invest up to 8% of their revenues in technology to improve their customer experience, bring more efficiency to their operations, and boost their profitability.
POSist itself, despite the pandemic, doubled its customer base in the Gulf, serving over 100 brands in the region.
“We have doubled our reach in the region since 2020. Our platform continues to deliver valuable results for our F&B customers as we add new features to our cloud-based software. We have a strong product roadmap for 2021. The best of what we are building is yet to come,” said Ashish Tulsian, co-founder and CEO, POSist.
