Dubai 2015: 15 million tourists a year plus
Dubai is one of the top 10 destinations in the world in terms of travel and tourism for those coming for leisure, business or shopping purposes, revealed Genesis Consulting ME.
The emirate is expected to attract more than 15 million tourists from around the globe by 2015. This reflects positively to the growth of the hotel industry, which recorded an occupancy rate of 80 per cent in 2012, with an average daily rate of $280.58.
Reports from Ernst & Young and TRI Hospitality Consulting highlighted that Dubai hotels were steady for the first seven months of last year compared to the same period in 2011.
In terms of revenue, hotels in Dubai recorded a 10.3 per cent increase in revenue.
According to a recent report released by STR Global, Dubai’s hotel sector is expected to see double-digit capacity growth in 2013 as the entire Middle East and Africa region is set to grow its hotel room capacity massively. The Construction Pipeline Report released by STR Global predicts that Dubai’s hotel room capacity will grow 28.6 per cent in 2013 with 17,409 rooms currently in the pipeline.
Additionally, Alpen Capital, in its recent report, on the region predicted that hotel room supply from 2012-16 will increase by 5.3 per cent annually in the UAE, taking the number from the current 96,992 hotels to 125,383 in 2016.
With its pristine beaches, ultimate luxury, large variety of malls and a host of events, the city is attracting demand from a wide range of segments, including leisure, corporate, and meetings, incentives, conferences and exhibitions travellers.
The leisure market remains the leading sector, contributing over 40 per cent of occupancy of the total room nights in hotels.
However, business demand is increasing due to the improvement in business sentiment across the region.
- Egyptian stocks plummet as Yemen confict deepens
- Mission to Mars: UAE plans Arab region's first unmanned probe
- Supervising the stoners: Egyptian tobacco traders call for the legalization of cannabis
- Ethiopia launches $2.8m research survey for Nile basin development
- UAE sweetens flotation regulations to attract more investment