The UAE’s hospitality market is geared up to record 67 per cent growth in revenue to $7.5 billion by 2016, up from $4.5 billion in 2011 as visitor demand gains traction and new hotel supply enhances the existing tourism product, various industry reports suggest.
Tourist arrivals in the UAE are forecast to grow at a compound annual growth rate of 5.3 per cent between 2012 and 2022, with hotel supply also expected to increase from the current 96,992 hotel rooms in Dubai and Abu Dhabi, to a total of 125,383 hotel rooms in 2016.
In 2012, the UAE drew an estimated 10 million tourists.
According to a report released by the World Travel and Tourism Council, the UAE accounts for 41 per cent of total investment in the travel and tourism sector in the Middle East. The report also predicted that the volume of investments in the tourism sector in the UAE would grow by seven per cent yearly.
Read more: http://www.khaleejtimes.com/biz/inside.asp?xfile=/data/uaebusiness/2013/February/uaebusiness_February252.xml§ion=uaebusiness
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