The United Arab Emirates (UAE) is one of the world’s leading tourist destinations, famous for its luxury shopping, stunning architecture, and vibrant nightlife. In recent years, the country has seen a significant increase in the number of visitors from around the world.
But just how much does UAE make from tourism? Let’s take a closer look.
Overview of Tourism in UAE
Tourism is a key driver of the UAE’s economy and has been identified as one of the main pillars for economic growth by the government. The country’s tourism industry has been growing steadily over the years, with an average annual growth rate of around 7% since 2010.
According to recent statistics from the World Tourism Organization (UNWTO), UAE welcomed over 16 million international tourists in 2019, generating approximately $21.4 billion in revenue. This represents an increase of 5.5% compared to the previous year.
Breakdown of Revenue
The revenue generated from tourism in UAE comes from various sources, including accommodation, food and beverage services, transportation, entertainment, and shopping. Here is a breakdown of how much each sector contributes to overall tourism revenue:
- Accommodation: Approximately $7.6 billion.
- Food and Beverage Services: Approximately $6 billion.
- Transportation: Approximately $4 billion.
- Entertainment: Approximately $2 billion.
- Shopping: Approximately $1.8 billion.
The Importance of Tourism to UAE’s Economy
Tourism plays a vital role in boosting UAE’s economy by creating job opportunities and generating income for businesses across various sectors. It is estimated that the tourism industry accounts for around 11% of the country’s GDP and provides employment to over 570,000 people.
Future Growth Prospects
The UAE government has announced several initiatives aimed at boosting the tourism industry further. These include investments in infrastructure, such as airports and hotels, as well as promoting cultural events and festivals.
In addition, the country is set to host several major events in the coming years, including Expo 2020 Dubai and the FIFA World Cup 2022. These events are expected to attract millions of visitors from around the world, further boosting UAE’s tourism industry.
Conclusion
In conclusion, tourism is a significant contributor to UAE’s economy, generating billions of dollars in revenue each year. The country’s government has recognized its importance and is investing heavily in its development. With its stunning attractions and world-class facilities, UAE is set to remain a top tourist destination for years to come.