UAE Tourism Sector Sees 7% Revenue Growth in First Half of 2024
TL;DR
The UAE's tourism sector growth provides a competitive advantage in attracting more visitors and generating higher revenues.
The increase in hotel revenues and capacity, as well as the growth in passenger traffic, showcases the methodical expansion and development of the UAE's tourism sector.
The growth in the UAE's tourism sector contributes to the national economy and creates more opportunities for employment, ultimately enhancing the country's overall prosperity.
The significant expansion in the number of hotel rooms and the increase in passenger traffic at UAE's airports make the news both interesting and educational.
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The UAE Ministry of Economy has reported significant growth in the country's tourism sector for the first half of 2024, with hotel establishment revenues reaching AED 24.6 billion, a 7% increase compared to the same period in 2023. This growth is accompanied by a 10.5% rise in hotel guests, totaling approximately 15.3 million across the UAE's seven emirates.
H.E. Abdulla Bin Touq Al Marri, UAE Minister of Economy and Chairman of the Emirates Tourism Council, highlighted that these results demonstrate the effectiveness of the country's tourism strategies and its competitive advantage in the global market. The growth is crucial for achieving the objectives of the UAE Tourism Strategy 2031, which aims to increase the sector's contribution to the national GDP to 450 billion dirhams and attract 40 million hotel guests by the next decade.
The UAE's hotel sector has shown remarkable performance, with occupancy rates reaching 79.5% in the first half of 2024, among the highest globally. This represents a 3.7% increase compared to the same period in 2023. The total number of hotel rooms in the UAE has also expanded, reaching 213,741 by the end of June 2024, a 3% growth from the previous year.
The country's aviation sector has seen parallel growth, with passenger traffic at UAE airports increasing by 14.2% in the first half of 2024. The total number of passengers received by UAE airports during this period reached over 71.75 million, up from 62.79 million in the same period last year. This growth is attributed to the UAE's investments in aviation infrastructure and its air transport agreements with 188 countries worldwide.
These positive indicators reflect the UAE's growing prominence as a global tourism destination and its success in implementing tourism-related strategies. The growth in both tourism and aviation sectors is likely to have significant economic implications, contributing to job creation, increased foreign investment, and overall economic diversification in line with the UAE's long-term development goals.
Curated from 24-7 Press Release
