UAE hotels generate US$9.1B revenue in nine months

UAE – The UAE’s hospitality sector has demonstrated robust growth in 2024, with hotel establishments generating AED 33.5 billion (US$9.1 billion) in revenue during the first nine months of the year.

This represents a 4% increase compared to the same period in 2023, solidifying the country’s position as a global tourism leader.

Average hotel occupancy across the seven emirates rose to 77.8%, among the highest globally. The total number of hotel nights recorded reached 75.5 million between January and September, reflecting an 8% year-on-year growth.

These figures highlight the continued attractiveness of the UAE as a destination for leisure and business travelers.

International arrivals from key markets such as India, Europe, and neighboring GCC countries have significantly contributed to this growth.

A surge in demand for luxury accommodations and eco-tourism options underscores the country’s appeal to diverse audiences.

Major events, including the COP28 Summit and Expo City Dubai’s ongoing legacy projects, have drawn millions of visitors to the UAE.

The government’s strategic investments in airport infrastructure, expanded airline routes, and simplified visa processes have also enhanced accessibility, making the country an increasingly popular choice for global travelers.

The focus on cultural tourism has further enriched visitor experiences. Projects like the Louvre Abu Dhabi, Al Ain Oasis, and other heritage-focused initiatives have succeeded in attracting tourists while preserving the UAE’s historical identity.

The UAE hotel market is projected to grow from USD 50.57 billion in 2024 to USD 65.96 billion by 2029, with a compound annual growth rate (CAGR) of 5.46%.

The number of users is expected to increase to 2.18 million by 2029, with penetration rising from 17.2% in 2024 to 21.9%.

New developments such as the Wynn Resort in Ras Al Khaimah are set to bolster the sector’s expansion. These initiatives aim to meet the increasing demand for unique and high-end hospitality experiences.

During the UAE delegation’s participation in the 27th session of the Arab Ministerial Council for Tourism in Cairo, officials reaffirmed their commitment to fostering joint Arab tourism efforts.

Emphasis was placed on sustainable development, reflecting the UAE’s vision for inclusive and environmentally responsible growth in the tourism sector.

The government’s initiatives align with the nation’s Vision 2030 goals for economic diversification.

By promoting innovative projects and expanding its tourism offerings, the UAE continues to enhance its global appeal while maintaining steady growth in revenue and visitor numbers.

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