Dubai Tourism Spending to Soar

05/06/2011 - Dubai Investment News
Dubai Tourism Spending to Soar

Visitors to Dubai are forecast to spend $7.8 billon this year, according to a new report released by MasterCard. The amount marks a rise of 24% on 2010, ranking Dubai as the third fastest growing city in the world, and placing it over and above other more established tourist destinations such as London, New York and Singapore. This year, tourist numbers are also expected to touch 8 million, 17.3% more than 2010’s figures.

On MasterCard’s Index of Global Destination Cities, Dubai also clocked in at number nine worldwide, and number one in the Middle East and North Africa region. The report’s predictions provide yet more proof that the emirate’s hotel industry is buzzing. The sector continues to count the profits thanks to a busy start to the year, with occupancy levels averaging 82% in the first quarter. The First Group prides itself in being quick to recognise the huge potential of Dubai’s hotel sector and is looking forward to releasing its next hotel apartment development, First Central, this July! Located in the thriving business district of Tecom, First Central will be the second hotel property to open in the The First Group portfolio, adding to The Diamond in Dubai Sports City.