DUBAI: The UAE is gearing up for significant advancements in the hospitality and tourism sectors in the coming years. By 2031, the country's GDP will increase to 16 percent. The country is aiming for a significant increase from 11.7 percent in 2023. To achieve this target, the UAE aims to secure an additional economic growth of approximately AED 220 billion.
To achieve these goals, the UAE plans to secure an investment of 450 billion dirhams in the hotel industry within the next seven years. The plan will also include strategies to increase tourism initiatives in the Northern Emirates including Sharjah, Fujairah, Ajman and RAK by making significant interventions in wellness and medical tourism.
The UAE had presented the outline of these goals at the Future Hospitality Summit held in Dubai. UAE Minister of Economy, Abdulla bin Touq Al Marri, said that the country is on the path to achieving these targets.
"Nearly 73 million visitors arrived at UAE airports in the first half of 2024. Our country has more than 1200 hotels to accommodate millions of visitors. This is the highest number in the world," Al Marri said.
According to the World Travel & Tourism Council (WTTC), the UAE's travel and tourism sector achieved 26% growth last year, contributing AED 220 billion to the country's GDP.
As the country makes new advancements, numerous job opportunities will also be created. Currently, around 800,000 people are employed in the tourism sector in the UAE, accounting for approximately 12% of the country's workforce. The UAE Minister of Economy revealed that the country will cooperate with the Nafis program to attract more UAE nationals to the tourism sector. With the realization of the new projects, employment opportunities will also arise for the youth from other countries in the UAE.