The report, obtained by Abu Dhabi-based www.hotelandrest.com website, showed the sector’s value added would reach Dh60 billion this year, its highest level.
The report forecast the value to jump to Dh80 billion in 2024 due to an expected boom in the sector and massive infrastructure and HOTEL projects to be set up by Dubai for the 2020 EXPO.
This will boost the tourism sector’s contribution to GDP to a record high of 12.1 per cent, close to industry and other key sectors.
“This means the UAE will become one of the three top tourism destinations in the Middle East,” the report said, adding that the UAE alone received nearly Dh40.5 billion in tourism investment in 2011, more than 41 per cent of the total tourism investments in the Middle East.
The report also expected an increase in the number of tourists to the UAE in the coming years thanks to its modern infrastructure and facilities, stability, strong economy and the surge in operations by its carriers—Etihad, Emirates, FlyDubai and Air Arabia.
Its projections show that the number of tourists to the country could reach 39.9 million by 2024 and this could push up tourism investment to Dh100 billion.
It noted that the UAE would be able to handle more than 60 million passengers a year following the completion of Abu Dhabi airport expansions in 2017 and the operation of Dubai’s Al Maktoum airport and other outlets. Abu Dhabi is also expected to attract massive investment in tourism and related sectors, it added.
“The tourism sector has become one of the key components of the UAE economy and is set to further expand in the coming years.”