UAE hospitality industry remains regional winner

22/09/2011 - Dubai Investment News
UAE hospitality industry remains regional winner

The UAE has once again emerged the region’s top player in the hotel industry. The emirates have the most number of hotel rooms under construction in the Middle East and North Africa (MENA) clocking in with 40,176. According to the report by STR Global, second place and much further behind was Saudi Arabia with just 5,531. Dubai’s expected rate of room growth at the end of August stood at 26,642, making it one of the most rapidly expanding hospitality sectors in the entire MENA region. The emirate recently ranked 18th in the world in terms of international visitor spending, which is forecast to reach $7.8 billion in 2011. It also weighed in at number nine on the list of global tourism destinations, beating the likes of New York, Amsterdam, Kuala Lumpur and Shanghai.

This year, Dubai is expected to draw 7.9 million international visitors – a rise of 17.3% compared to 2010. These figures provide yet more proof of the phenomenal growth rate within Dubai and the wider UAE’s hospitality industry. It also spells good news for investors in the emirate’s hotel industry, which remains one of the most vibrant in the world. Stay tuned for updates on The First Group’s excited hotel developments, soon to open in Tecom, Dubai.