Leisure & Hospitality Tourism to contribute $64bn to UAE’s economy in 2024 By Pramod Kumar May 26, 2024, 5:59 AM Unsplash.com/Ajit Sandhu Animals seen in Dubai desert. The tourism sector contributed AED220 billion to the GDP in 2023 The tourism sector’s contribution to the UAE’s economy is expected to reach AED236 billion ($64 billion) in 2024, accounting for 12 percent of the overall GDP, a senior government official has said. The sector contributed AED220 billion to the GDP last year, accounting for almost 12 percent of the overall economy, Khaled Al Midfa, chairman of Sharjah Commerce and Tourism Development Authority (SCTDA), said at the UN Tourism 50th regional commission meeting for the Middle East in Muscat. Al Midfa said the tourism sector generated 809,000 jobs last year, which is projected to rise to 833,000 this year. The UAE tourism strategy seeks to increase the sector’s contribution to the country’s GDP to AED450 billion by 2031, attract new investment of AED100 billion and welcome 40 million guests to the country’s hotels by the next decade. The six GCC governments – Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the UAE – are exploring ways to co-operate on tourism, including a unified visa set to become available by the end of the year. GCC nations should co-ordinate their event schedules to avoid overlaps and entice tourists to make multiple stops in the region, officials said at the Arabian Travel Market conference earlier this month. Register now: It’s easy and free AGBI registered members can access even more of our unique analysis and perspective on business and economics in the Middle East. Why sign uP Exclusive weekly email from our editor-in-chief Personalised weekly emails for your preferred industry sectors Read and download our insight packed white papers Access to our mobile app Prioritised access to live events Register for free Already registered? Sign in I’ll register later
