Tourist spending on the up in UAE

16/08/2011 - Dubai Investment News Posted by Neil King
Tourist spending on the up in UAE

The buy-to-let industry in Dubai could be set to pick up after figures showed increased spending among tourists.Recently-published figures show that the emirate's reputation as a leading retail location is improving, which could in turn boost demand for short-term stays.Indeed, data published by Visa has shown that visitors to the UAE spent 20.3 per cent more on their Visa cards in 2010 compared to the previous year.Kamran Siddiqi, general manager for Visa Middle East, said: "Significant infrastructure developments throughout the UAE have contributed towards this turnaround, and the UAE is forecast to experience some of the world's strongest inbound tourism growth over the next five years."In 2010, Chinese travellers spent 155.3 per cent more in the UAE than they did in 2009. Luxury retailers noted the rise in Chinese visitors that began in 2010 shows no signs of abating as an increasing number of Chinese tourists are looking for high-end luxury goods."The comments come after the opening of an exclusive Christian Louboutin outlet in Dubai Mall.