United Arab Emirates Tourism Industry – Focusing on Dubai & Abu Dhabi
The report titled “United Arab Emirates Tourism Industry – Focusing on Dubai & Abu Dhabi” focuses on UAE tourism and offers an analysis of the tourism market in the country. It analyzes the economic and political environment in the emirate. The report discusses in detail spending on tourism and development, leisure tourism along with the forecasts. The report also talks about tourism industry in Dubai and Abu Dhabi separately discussing tourism development and attraction, hotel and food industry, travel and transport industry and infrastructure development and construction industry. We have also discussed trends and business opportunities in the country in the tourism sector.
Key Findings in the Report
* An expected growth rate is projected till 2014. Real GDP is expected to grow at a healthy rate and growth is expected to pick up pace in 2012 and beyond. By the year 2016, the tourism sector is expected to earn US$ -US$ billion.
* Tourism industry has contributed significantly to the GDP. By the year 2016, the tourism sector is expected to earn US$~ billion.
* In 2009, 40.90 million passengers passed through Dubai International Airport while 6.10 million guests stayed in Dubai’s hotels. Projections show that 15 million tourists will visit the city by 2010 and the number of hotel rooms will grow to 1.84 million by 2010.
* Tourism industry had a positive effect on the employment scenario in UAE. One in every 8.5% of the job is associated with the tourism. By 2016, this is expected to reach 9.1%. Abu Dhabi is also being regarded as one of the prominent destinations by tourists. In the next decade, it is expected that approximately US$~ billion would be invested in this sector.
* Dubai generates maximum revenue from tourism for UAE. According to UAE government, the revenue earned from tourism is even more than it earns from oil. Tourists get attracted to the nightlife here, beaches, shopping and to luxurious accommodations available in UAE.
* After oil and trade, building and construction is regarded as the third largest sector, contributing to approximately 6% of the GDP, which is US$23 billion; a significant contribution even in the time of financial crisis. The contribution is expected to increase to 10% – 11% in 2010 and 2011, when the economy is expected to recover from the crisis.
* According to The United Nations Conference on Trade and Development (UNCTAD), UAE is considered as a “Front Runner” which means that UAE has very high potential for Foreign Direct Investment (FDI) and also for FDI performance. According to A&M estimation, the UAE tourism GDP is expected to grow at 4-5% from 2010 – 2016.
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