UAE's Tourism Sector Projected To Bolster GDP By 12% In 2024: Economy Minister Reveals
Abdullah bin Touq Al Marri, the UAE's Minister of Economy and Chairman of the Emirates Tourism Council, highlighted the significant contribution of the tourism sector to the country's economy during his speech at the Arabian Travel Market (ATM) 2024. The sector saw an 11.7 percent increase in Gross Domestic Product (GDP) in 2023, reaching AED220 billion. Al Marri projected that by the end of 2024, tourism would account for 12 percent of the UAE's GDP, approximately AED236 billion.
The 31st edition of ATM, taking place at Dubai World Travel Centre (DWTC) until May 9th, focuses on Gulf-wide collaboration, facilitating inter-regional travel, and infrastructure development. The event witnessed a panel discussion featuring prominent figures such as Khalid Jasim Al Midfa, Fahd Hamidaddin, Azzan Al Busaidi, and Sarah Buhijji. Moderated by Richard Dean of Dubai Eye, the discussion delved into the significance of inter-regional initiatives for advancing the GCC tourism industry.
The panelists emphasized the planned GCC Unified Tourist Visa as a pivotal element for promoting the region as an interconnected destination. This initiative is expected to enhance accessibility, thereby improving key performance indicators like length of stay, average spend, and employment rates. The discussion also covered how ongoing and future infrastructure projects, including airports and cruise terminals as well as the anticipated GCC Railway, will further boost accessibility across Gulf nations.
Danielle Curtis, Exhibition Director ME at Arabian Travel Market, remarked on the balance between competition and collaboration among GCC countries in enhancing their tourism offerings. She praised this year's ministerial participants for their insights into creating a unified tourism future for the region.
The ATM 2024 serves as a platform for discussing strategies to elevate the GCC's tourism sector through collaboration on sustainability, infrastructure development, and cultural promotion. These efforts aim to ensure that the travel industry continues to benefit local communities and ecosystems while contributing to the region's long-term tourism sustainability.
With inputs from WAM
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