UAE hotel revenues surge to 27% in 2023

According to the Minister of Economy, hotels in the UAE recorded a 27 per cent annual jump in revenues to Dh32.2 billion ($8.7 billion) in the first nine months of 2023, reflecting a robust uplift in the country's tourism sector.

The number of hotel guests in the Emirates touched 20.2 million during the January-September period, up 12 per cent in 2022, Abdulla bin Touq, Minister of Economy, said.

Recording a 6% annual growth, the hotel occupancy rate hit 75% during the period,

Mr Bin Touq, chairman of the UAE Tourism Council said that these indicators play a vital role in achieving the national target set by the We The UAE 2031 vision to raise the sector’s contribution to the country’s economy to Dh450 billion by the next decade.

Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, launched the fourth season of the domestic tourism campaign, World’s Coolest Winter 2024, which runs until February 20, to boost the tourism sector in the Emirates.

Tourism is contemplated as one of the pivotal pillars towards transitioning to a new economic model.

The initiative, under the theme “unforgettable stories”, is aimed at showcasing the UAE's “unique tourism attractions and winter experiences, its rich cultural heritage, and enchanting natural landscapes”, said Mr bin Touq.

The campaign is positioned with the goals of National Tourism Strategy 2031, launched in November 2022, to attract 40 million hotel guests by 2031 and Dh100 billion in UAE tourism investment.

It has yielded substantial economic benefits for domestic tourism, with hotel revenues reaching Dh1.8 billion, up 20 percent compared to the second edition of the campaign, which amounted to Dh1.5 billion, according to official data.

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UAE Hotel Revenues Surge To 27% In 2023

News Source : The National News