Published on : Thursday, September 14, 2017
The Dubai Chamber of Commerce and Industry based on new data from Business Monitor International and the World Travel and Tourism Council predicted that UAE economy was on a fast track diversification with new mega projects coming to the market. The total spending in the tourism sector will increase by 4.5 per cent year on in 2017 and will reach over $42 billion.
The total tourism spending of UAE accounted for 77 percent and the leisure travel spending in UAE reached over $31 billion in the year 2016.
Marsa Al Arab, a $1.7 billion mega tourist resort near the Burj Al Arab, the new IMG Worlds of Legends theme park, a Formula One theme park at Dubai’s Motor City, Six Flags at Dubai Parks and Resorts and many other planned shopping malls and cultural venues will add to the growth of the UAE’s travel market.
Dubai will at par with London and Paris, expecting a target of 20m million visitors by 2020, that will be higher than New York and Tokyo as per the Global Destination Cities Index.
A record 8.06 million international overnight tourists arrived in Dubai showing and increase of 10.6 per cent over the same period as compared to last year. Dubai’s hotel room inventory was also five per cent more as compared to the same period last year.
Abu Dhabi has become the world’s third fastest-growing destination for international visitors while Dubai ranks as the world’s fourth-ranked destination city by international overnight visitors after Bangkok, London and Paris. The visitor spending of Dubai is 431.3 billion.
Sultan bin Saeed Al Manouri, the UAE Minister of Economy that the tourism sector contributes to 5.4 per cent over the next 10 years to reach Dh 238.8 billion by 2026. The rich cultural heritage of UAE, natural diversity and developed infrastructure makes it a strong competitor.
UAE is ranked 29th globally by the World Economic Forum’s Travel and Tourism Competitiveness Report 2017.
V.A. Hassan, the chairman of the Flora Group of Hotels said that Dubai will expand the range of tourist and holiday attraction with its new segment of global travel market geographically.