The contribution of the tourism sector to the economy of the UAE will increase to 72.6 billion dirhams in 2018.
Dubai, UAE. The tourism and hospitality sectors will bring 72.6 billion dirhams (US $ 19.8 billion) to the economic piggy bank of the United Arab Emirates in 2018, which is 5% higher than a year earlier. In addition, according to the forecast of the World Travel and Tourism Council, by 2028 the volume of the tourism industry will grow to 108.4 billion dirhams (US $ 29.5 billion).
In 2017, the share of the tourism sector in the UAE's GDP was 5.1%, or 69.1 billion dirhams (US $ 18.9 billion), by 2028 its share will be 4.9%, and annual growth is projected at 4.1 % The direct contribution reflects the economic activity of hotels, travel agencies, airline and transport companies.
In addition, the hospitality sector provides the UAE with 380 thousand jobs; 4.9% of all residents of the country are involved in it. By 2028, their number will grow to 396 thousand people.
If we talk about investments, in 2017, 25.4 billion dirhams (US $ 6.9 billion), or 8% of the total volume of all investments made, were invested in the hospitality sector. On a global scale, the UAE tourism sector is 27th in terms of volume in the world, 74th in terms of profitability (according to the latest indicator in 2018, it will rise to 60th place).
