Published on : Monday, September 18, 2017
New analysis conducted by the Dubai Chamber of Commerce and Industry said new mega projects coming to market will drive the growth. World Travel and Tourism Council (WTTC) and Business Monitor International (BMI) analysed the data revealing the total spending in the sector is predicted to increase 4.5% year on year in 2017 to reach more than $42 billion.
Dubai Chamber said growth within the UAE’s travel market growth will likely be supported by several recently announced projects, including 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, in addition to a number of planned shopping malls and cultural venues.
With these mega projects in line, Dubai’s preparations to host Expo 2020 are also on its way. The figures from the data shows that tourism and travel accounted for 12.1% of the UAE’s GDP in 2016 ($43.3 billion), with leisure travel spending amounting to $31.31 billion, or 77% of UAE’s total tourism spending. Approximately 14.9 million leisure and business travellers visited the UAE in 2016, which is about 4.9% increase than the last year.
With a share of 28.6 percent in total arrivals during 2016, Middle East is identified as the largest source of visitors followed by the Asia Pacific region at 25.7%, and Europe at 17.1%.