MARKET BACKGROUND

IRAQ ….

Hospitality Sector… A Rising Potential

The tourism and travel sector in Iraq is a very vast sector that is integrated with many different industries and other sectors such as hospitality, accommodation, transportation, food and beverages, catering, and others

Revenue in the Iraqi Hotels market is projected to reach US$0.61bn in 2024.

Revenue in the Iraqi Hotels market is expected to show an annual growth rate (CAGR 2024-2028) of 6.00%, resulting in a projected market volume of US$0.77bn by 2028,

In the Iraqi Hotels market, the number of users is expected to amount to 6.91m users by 2028.

In the Iraqi Hotels market, 78% of total revenue will be generated through online sales by 2028.

The Restaurant Delivery market in Iraq is projected to reach a revenue of US$7.10m in 2024.

The Restaurant Delivery market is expected to grow at an annual rate of 6.89%, resulting in a projected market volume of US$9.27m by 2028

Restaurants and Coffee Shops constituted as much as 89 percent of the hospitality sector, according to UNESCO report.

In June 2023, Estithmar Holding announced the signing of three memorandums of understanding worth $7 billion with Iraq’s National Investment Commission to develop new cities, 5-star hotels.

The number of Hotels in Baghdad totaled 1694 in January 2024.