UAE targets Dh450 billion worth of investments in hotel industry over 7 years: Al Marri

Dubai: The UAE is setting its sights high for the hospitality and tourism sector, projecting it will account for 16 per cent of the nation’s GDP by 2031, a significant rise from 11.7 per cent in 2023, equating to Dh 220 billion.

To realise these ambitious goals, the country plans to secure over Dh 450 billion in investments within the hotel industry over the next seven years. 

This strategy includes diversifying offerings by making substantial inroads into wellness and medical tourism and enhancing tourism initiatives in the Northern Emirates, including Sharjah, Fujairah, Ajman, and RAK.

Abdulla bin Touq Al Marri, UAE Minister of Economy, outlined these targets at the Future Hospitality Summit in Dubai and said that the UAE is on track to achieve them.

“In the first half of this year, about 73 million visitors were managed by our airports in the UAE. We have over 1,200 hotels that have hosted millions of people, and our occupancy levels are at 80 per cent, which is among the highest in the world,” said Al Marri.

The Minister said the UAE’s appeal as a major tourism hub lies in the safety of offers despite tensions in the broader Middle East. 

“We are in the eye of the storm, but we have the highest safety and security protocols. And everyone knows that about us. Our numbers speak for themselves,” he said.

According to the World Travel and Tourism Council (WTTC), the UAE’s travel and tourism industry grew by 26 per cent last year, contributing Dh220 billion to the country’s GDP.