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SECTOR TO HIT $64bn

UAE tourism sector likely to contribute 12pc to GDP in 2024

DUBAI, 22 days ago

The UAE's tourism sector contributed AED220 billion ($60 billion) to the GDP in 2023, accounting for 11.7% of the overall economy, said an industry expert.
 
This upward trend is expected to continue in 2024, with projections indicating the sector will reach AED236 billion ($64.25 billion) and account for an even greater share of the GDP at 12%, stated Khaled Al Midfa, Chairman of Sharjah Commerce and Tourism Development Authority (SCTDA).
 
He was speaking at the three-day UN Tourism 50th Regional Commission Meeting for the Middle East held in Muscat, Oman.
 
Al Midfa, who led the UAE delegation to the meeting, pointed out the tourism sector played a significant role in generating 809,000 job opportunities across various tourism activities and fields in the UAE in 2023. 
 
Projections indicate that the number of job opportunities will increase to 833,000 in 2024, stated the top official.
 
The UAE Tourism Strategy’s ultimate goals seek to increase the sector's contribution to the country's GDP to AED450 billion by 2031, attract new investment in the tune of AED100 billion to the sector and welcome 40 million guests to the country's hotels by the next decade, he added.-TradeArabia News Service



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