Our Founder and CEO, Miljan Premović, appeared as a guest on Radio Television of Serbia, where he provided an in‑depth analysis of how current events in the Middle East are reshaping global tourism dynamics. In the interview, he examined the immediate and long‑term effects of the crisis on travel flows, market structures, and destination strategies across Europe and the Mediterranean.
🔗 Watch the full interview here:
Key Insights from the Interview
➡️ The Middle East accounts for an average of 6.5% of global tourism traffic, positioning the region as an important yet highly specific player in the global tourism ecosystem. Premović highlighted the distinct duality of its offering — a combination of ultra‑luxury tourism and religious tourism, both of which attract millions of visitors annually.
➡️ The estimated economic impact of the conflict is substantial. Tourism‑related losses reach approximately USD 600 million per day, with a cumulative loss of around USD 20 billion since the onset of the conflict. Premović emphasized that these figures illustrate the scale of disruption affecting destinations, investors, tour operators, airlines, and service providers across the region.
➡️ Spain is emerging as the primary short‑term alternative for travelers seeking stability and safe, well‑structured destinations. However, Premović underlined that the shift in demand extends beyond Spain. Greece and Italy also stand to strengthen their position due to their diversified product range, long‑standing tourism tradition, strong safety profile, and mature, resilient operational systems.
Looking Ahead: What Will the Long-Term Impact Be?
According to Premović, the true extent of the long‑term impact on tourism and regional economies will only become clear over time. Historical patterns show that the consequences of major crises in tourism markets are often felt for years rather than months. Destinations lacking a stable, sustainable structure are typically the slowest to recover.
This raises an important question: To what extent was the region’s previous growth a result of genuinely sustainable models — and how much of it was driven by favorable global circumstances?
The coming period will reveal whether Middle Eastern destinations can regain their former momentum or whether travelers will permanently adjust their preferences and choose alternative markets.