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Gulf Press > Business > UAE tourism industry aims for 40 million visitors and Dh100 billion in new investments by 2031
Business

UAE tourism industry aims for 40 million visitors and Dh100 billion in new investments by 2031

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Last updated: 2024/05/26 at 5:56 PM
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The UAE’s tourism sector is on an upward trajectory, with plans to attract new investments of Dh100 billion by 2031 and welcome 40 million guests to the country’s hotels. Currently, the tourism sector contributes Dh220 billion to the GDP, accounting for 11.7% of the economy, with projections indicating growth to Dh236 billion in 2024. The UAE aims to increase the sector’s contribution to Dh450 billion by 2031.

The upcoming unified GCC visa is expected to present the region as a connected destination, enhancing accessibility and driving key performance indicators such as length of stay, average spend, and employment. Investments in infrastructure, including airports, cruise terminals, and the upcoming GCC Railway, will further facilitate access for domestic and international visitors.

The tourism sector in the UAE is expected to create 833,000 jobs in 2024, with 1,235 hotels providing a total of 210,000 rooms. The World Travel & Tourism Council’s 2024 Economic Impact Research report indicates that the sector supports over 809,000 jobs, representing one in nine jobs in the country. Visitor spending, both domestic and international, has seen significant growth, reflecting the UAE’s appeal as a top global tourism destination.

Dubai is set to see the opening of 31 new hotels in 2024, with a cumulative total of 851 by the end of the year and 867 by the end of 2025. The city attracted 5.18 million international visitors in the first quarter of the year. In 2023, Dubai welcomed 17.15 million overnight visitors, surpassing previous records. Dubai International Airport also exceeded pre-pandemic levels of passenger traffic in 2023.

The UAE’s tourism sector has been recognized globally, with the country ranking first in the MENA region and 18th globally in the World Economic Forum’s Travel & Tourism Development Index. The UAE improved its score by 4.4% in the 2024 index, climbing seven places from its previous ranking in 2021. The index evaluates economies based on factors such as the enabling environment, travel and tourism policy, infrastructure, resources, and sustainability.

Overall, the UAE’s tourism sector is poised for continued growth and success, with ambitious targets for investment, visitor numbers, and economic contribution. The country’s strategic vision and commitment to enhancing the tourism industry have positioned it as a key player in the global travel market. With ongoing investments in infrastructure and a focus on sustainability, the future looks bright for the UAE’s tourism sector.

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News Room May 26, 2024
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