The UAE travel sector is gearing up for another exciting year, as more global tourists are seeking longer stays and more immersive experiences in the UAE.
Hotel room rates may be increased by 10% in Dubai this year.
Experts said that the UAE is the best place to achieve the strategic goal of welcoming 40 million guests in hotels by 2031. There will be an increase in investment in the hospitality sector and the establishment of many new hotels and attractions in the region.
The COO of Musafir.com, an online travel agency, Raheesh Babu said “Many global travellers choose to stay for longer than seven to ten-day holidays. Inbound visitors also stay longer in the UAE as well. This is because business travellers prefer to combine their work trips with leisure holidays in the UAE.”
Additionally, most of the travellers are booking their summer holiday months in advance. The frequency of travelling in UAE has witnessed a continuous increase with tourists opting for multiple trips annually. “
This is going for both inbound and outbound travellers in the UAE.
Starting of New Hotels
To prove better hospitality, around 14 new hotels are expected to open this year from Jumeirah Marsa Al Arab to Five Luxe. As per the Hotel Monitor, 2024 report by Amex GBTm ( American Express Global Business Travel), Hotel room rates may be increased by 10% in Dubai this year.
Dubai is at the forefront of the regional hospitality market with an amazing outlook for 2024 and beyond it. According to Danielle Curtis, Exhibition Director ME, ATM (Arabian Travel Market), the city is surpassing the world’s major capitals such as London, New York City, and Bangkok in the availability of hotel rooms, blustering more than 150,000 hotel rooms in this month.
Demand to Stay Robust
Dubai Airport CEO Paul Griffiths predicted that the demand for travelling will increase for the foreseeable future. “I am very optimistic that tourist demands are increasing which will constantly surprise us every time we think about the forecast. It will be always in the upward direction. I think that it is going to be a phenomenon we have to adopt for a longer time.”
Major Contributor to GDP
Julia Simpson, President and CEO of the World Travel and Tourism Council said “In 2023, the UAE has exceeded the 2019 numbers (contribution to GDP) by a quarter, which was 25% greater than in 2029.
In 2024, there are huge chance that travel and tourism will present 12% GDP of the UAE, which is going to be worth Dh236.4 billion.
She said, that the tourism sector in UAE will employ approximately 832,900 people in 2024. This means 12 % of the employable population will be in the industry of UAE tourism and travel sector. In the coming 10 years, there will be millions jobs in the tourism industry is likely to be worth Dh275 billion.”
In 2024 and beyond, definitely starting a tourism company in UAE will be more profitable for foreign investors. So, if you are planning to start your travel business in UAE, contact with Arab Business Consultant now!
