Businesses are after profits. This requires targeting the market capable of providing returns and achieving profits. This means that the business’ choice of the right market, which has the willingness and affordability over the Organization’s products, is the benchmark of the business’s success or failure.
One of the most important indicators that can be used to predict the willingness and affordability to purchase the products of the corporation is determining their expenses. Thus, that is what will be further highlighted concerning Arab visitors in the UK.
Suppose the investment expenditure doesn’t lead to an increase in employment in Britain. In that case, it will at least generate demand for the products of the organizations targeting the business sector, which will get the economy moving.
After the recession in the British economy resulting from the Coronavirus pandemic by 10% in 2020, a budget was disclosed to support the British economy after the coronavirus crisis. Part of this budget is dedicated to supporting British citizens, and another is assigned to the companies in Britain or UK-related.
Of course, this is an opportunity for Arab investors to take advantage of the sectors supported by the British government (i.e. the technology sector or free zones) and push them to further investment spending. Arabs invested around $193 billion in the UK in recent years.
Despite the low number of Arab visitors in Britain, they have a substantial purchasing power compared to the number of visitors from other regions.
Their expenses are not limited to investment. They vary, meaning it is likely that they come to Britain only to shop or get exceptional health care.
The status of Arab countries influences the spending of Arab visitors. For example, Saudi visitors spending amounted to £1 billion in 2017. Soon it fell to £495 million in 2018. Then, it reincreased to about £627 million in 2019. It is known that Saudi Arabia suffered various economic challenges in 2018.
Expenditure is also affected by seasons (Ramadan – Eid al-Fitr – Eid al-Adha). The majority of Arabs in Britain are Muslims. In addition, the number of wealthy Arab visitors increases in the summer, where they escape the heat.
Recorded spendings may differ from actual ones. For example, not all Arab tourism spendings are taken into account. Flats purchases is not recorded as tourism purchases since they may buy flats for the summer vacation or their work requirements.
However, in general, Arab visitors are among the most spending nationalities in the UK, that exceeded 1.5 million in 2019. More importantly, Arab visitors spend in the UK spend more than any other European city, more than $7.5 million a day.
Some of the most Arab nationalities in spending in the UK are the UAE, Egypt, Kuwait and others. The spending of UAE visitors was about £869 million in 2019.
Regarding families, Arab families spend the most compared to other families, reaching about 1/10 of total tourists, an average of about $42,000.
Thus, the Arab market in the UK is profitable. The Arab customers are the most spending. There could be great returns in case of successfully targeting it with marketing diversity and inclusion.
Therefore, some businesses like hotels provide their services in Arabic. You may even find Arab staff, as this gives a remarkable ability for diversity and inclusion marketing. Arab customers would realize the attention and interact with it.