UAE becomes the leading business and leisure tourism destination

Although comparatively small in terms of geography, the UAE, with strong economic growth, strategic location and dynamic leadership, has the potential to become one of the worlds leading business and leisure tourism destinations.

A study by consultants Jones Lang LaSalle says the strength of the tourism industry is highlighted by the fact travel and tourism economic activity represents 19 per cent of the GDP compared with 14 per cent in the UK and 12 per cent in the US. In 2006, the GDP growth in the UAE was estimated to be over 2.7 times higher than the world GDP growth rate.

“Compared with both established and emerging markets, including France, the UK, the US, Russia, Brazil, China and India, the UAE boasts the highest travel and tourism economic activity per capita in the world” said Global Chief Executive of Jones Lang LaSalle Hotels, Arthur de Haast.

“Hospitality real estate developments, along with hotel trading performance, have been burgeoning particularly in Dubai and more recently in Abu Dhabi,” he added.

Over the past five years, hotels in Dubai have seen arrivals increase by a Compound Annual Average Growth (CAAG) rate of 12.3 per cent to exceed five million in 2006.

The pace of growth in Abu Dhabi is even stronger, achieving a CAAG of 13.5 per cent and accommodating 1.3 million visitors in 2006.

The supply of hotel rooms under development in the GCC countries sees Dubai accounting for more than 50 per cent of all new hotel development in the Gulf with 45,000 rooms planned and under development within the next five years. Dubai is followed by Abu Dhabi with 10,000 rooms and Doha with 6,000 rooms in the same period.

[Source : Emirates Today]

Posted on 30/4/2007

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