UAE Hotel Revenues Projected to Reach AED 45 Billion in 2024 Amidst Growth
Hotel revenues are expected to grow 3% in 2024, with occupancy rates hitting 78% and new hotel openings boosting capacity.
The UAE's hotel sector is projected to generate approximately AED 45 billion in revenue during 2024, reflecting a 3% increase compared to 2023. Hotel occupancy rates also saw a notable rise, reaching 78% last year, categorizing the UAE among the top performers regionally and globally.
In 2024, the introduction of 16 new hotels will elevate the total number of hotels in the UAE to 1,251 by the end of the year.
Furthermore, the number of hotel rooms is expected to grow to 216,966, marking a 3% increase from the previous year.
Abdullah bin Touq Al Marri, UAE Minister of Economy and Chairman of the UAE Tourism Council, emphasized that the country's tourism sector is on a continuous growth trajectory, buoyed by the leadership’s directives and visionary strategies aimed at developing sustainable policies and projects.
These efforts underline the sector's vital role in enhancing the competitiveness and sustainability of the national economy while supporting the transition to a new economic model focused on knowledge and innovation.
The minister confirmed that ongoing national initiatives are aimed at developing innovative tourism projects and enhancing cooperation with various tourism authorities both locally and internationally.
These initiatives are designed to solidify the UAE's position as a premier global tourism destination by the end of the decade, ensuring exceptional experiences for visitors and broadening the spectrum of specialized tourism products.
Additionally, efforts are being made to build tourism capacity and promote the participation of national talent in the sector along with increasing investments across diverse tourism segments.
In 2023, the number of guests at the UAE’s hotel establishments reached approximately 30.8 million, marking a 9.5% increase from the previous year.
This performance means that the UAE's tourism sector has achieved 77% of the target set for hotel guests in the 'National Tourism Strategy 2031,' seven years ahead of schedule.
Looking ahead, 2024 is anticipated to feature numerous marketing campaigns and tourism initiatives designed to showcase the unique attractions and destinations across the seven emirates.
This initiative coincides with the designation of Al Ain as the Gulf Capital of Tourism for 2025.
In 2024, the introduction of 16 new hotels will elevate the total number of hotels in the UAE to 1,251 by the end of the year.
Furthermore, the number of hotel rooms is expected to grow to 216,966, marking a 3% increase from the previous year.
Abdullah bin Touq Al Marri, UAE Minister of Economy and Chairman of the UAE Tourism Council, emphasized that the country's tourism sector is on a continuous growth trajectory, buoyed by the leadership’s directives and visionary strategies aimed at developing sustainable policies and projects.
These efforts underline the sector's vital role in enhancing the competitiveness and sustainability of the national economy while supporting the transition to a new economic model focused on knowledge and innovation.
The minister confirmed that ongoing national initiatives are aimed at developing innovative tourism projects and enhancing cooperation with various tourism authorities both locally and internationally.
These initiatives are designed to solidify the UAE's position as a premier global tourism destination by the end of the decade, ensuring exceptional experiences for visitors and broadening the spectrum of specialized tourism products.
Additionally, efforts are being made to build tourism capacity and promote the participation of national talent in the sector along with increasing investments across diverse tourism segments.
In 2023, the number of guests at the UAE’s hotel establishments reached approximately 30.8 million, marking a 9.5% increase from the previous year.
This performance means that the UAE's tourism sector has achieved 77% of the target set for hotel guests in the 'National Tourism Strategy 2031,' seven years ahead of schedule.
Looking ahead, 2024 is anticipated to feature numerous marketing campaigns and tourism initiatives designed to showcase the unique attractions and destinations across the seven emirates.
This initiative coincides with the designation of Al Ain as the Gulf Capital of Tourism for 2025.
Translation:
Translated by AI
