Hotel and tourism revenues set to double by 2019
UAE hotel revenues are forecast to reach US $7.3 billion in 2015
A report by Euromonitor for the Hotel Show and The Leisure Show Dubai suggests UAE hotels’ annual revenues forecast set to reach US $10.9 billion by 2019, almost doubling from the US $5.9 billion figure recorded in 2013.
Visitor attraction revenues are also forecast to double from US$ 521 million recorded in 2013 to over US $1.2 billion by 2019.
In 2015, UAE hotel revenues are forecast to reach US $7.3 billion, while visitor attraction revenues will hit US $ 638 million.
The new figures were released by Euromonitor exclusively for The Hotel Show and The Leisure Show Dubai, which opened on September 28 to open to over 18,000 professionals from the industry at the Dubai World Trade Centre.
Christine Davidson, group event director, DMG Events hospitality portfolio including The Hotel Show and The Leisure Show said: “Euromonitor International’s new report reveals that the UAE is leading the Middle East and North Africa for hotel room revenues, with over three times the amount recorded and forecast for Saudi Arabia and Egypt who follow. Also, The UAE currently leads the region for hotel construction to meet demand.”
She continued: “Saudi currently leads the market for visitor attractions, however, with US $ 4.6 billion in revenues forecast for 2015 versus US $ 638 million for the UAE.
"But with massive leisure development currently underway across the UAE including five theme parks, three major museums and two safari parks, its visitor attraction revenues are forecast to almost double to US $1.2 billion by 2019.
"As more developments enter the pipeline, including last month’s announcement of the record-breaking Meydan One project featuring the world’s largest indoor ski slope, the UAE’s future for leisure and entertainment tourism looks exceedingly good.”