Skip to content Skip to Search
Skip navigation

Tourism to contribute $64bn to UAE’s economy in 2024

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.

Latest articles

Opec Secretary General Haitham Al Ghais says peak oil 'is not on the horizon'

Upstream oil and gas ‘needs more annual investment’

Annual capital expenditure for exploration and production in the upstream sector of the oil industry needs to increase by 22 percent by 2030 because of growing demand and cost inflation, experts say. A cumulative $4.3 trillion needs to be invested between 2025 and 2030, according to a report by the International Energy Forum (IEF) and […]

Rothschild Saudi

Edmond de Rothschild to run funding vehicle for Saudi projects

The Edmond de Rothschild Group is establishing a funding vehicle for infrastructure projects in Saudi Arabia along with the local firm SNB Capital, as part of a deal in which the Swiss investment bank will set up offices in the country.  Saudi Arabia’s massive economic diversification programme has run into financial obstacles as it faces […]

Turkey foreign property sales

Foreigners turning back on Turkish real estate

Foreign buyers are increasingly shunning the Turkish property market, wary of high prices, the expensive cost of living and a less welcoming environment for overseas real estate investors. There were only 2,064 residential units sold to foreign buyers in May, 35 percent down on the same month last year, data issued by the state statistics […]

2KEY8G1 Emirates Airline Airbus A380 aircraft landing. Aerial view of Emirates Airlines A380-800 airplane. An Emirates plane coming in to land at LAX; a spokesperson for Emirates said the contraventions were for safety reasons

US fines Emirates for operating in prohibited airspace

Emirates has been fined $1.5 million by the US Transportation Department for operating flights carrying JetBlue Airways’ JBLU.O designator code in prohibited airspace. The transportation department said that between December 2021 and August 2022, Emirates operated a significant number of flights carrying the JetBlue Airways code between the United Arab Emirates and the United States […]