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Worldwide Customer Spending In UAE Set To Attain $52.2 Billion, Up 9.4% This Yr (report)
Saturday, September 7, 2024
Worldwide guests are projected to spend $52.2 billion within the UAE this yr, marking a 9.4% improve and positioning the nation as a high world tourism spender.
Worldwide guests are set to spend an estimated $52.2 billion within the UAE this yr, reflecting a sturdy 9.4% improve in comparison with the earlier yr, based on the most recent World Journey and Tourism Council (WTTC) report. This progress positions the UAE because the tenth largest world recipient of inbound tourism spending and the second largest within the Center East, trailing solely Saudi Arabia. Saudi Arabia is forecasted to garner $68.3 billion, up from $60.6 billion in 2023, rating it sixth globally.
The UAE’s tourism sector is experiencing important progress, pushed by a world surge in journey demand. Passenger site visitors at UAE airports noticed a notable improve of over 14% within the first half of 2024, reaching 71.75 million vacationers, as reported by the Basic Civil Aviation Authority (GCAA). The GCAA additionally reported 20,274,694 arrivals, 21,090,750 departures, and 30,391,978 transit passengers throughout the identical interval.
In response to this progress, the GCAA is collaborating with nationwide airways and companions to discover new market alternatives, following the UAE’s institution of air transport agreements with over 90% of the world’s nations.
Wanting forward, the tourism sector’s contribution to the area’s gross home product (GDP) is projected to develop at an annual fee of three.9% from 2024 to 2034, surpassing the two.4% progress fee anticipated for the broader regional financial system. By 2034, the sector is anticipated to contribute $744 billion to the regional GDP, accounting for 7.8% of the full. This enlargement is anticipated to generate an extra 2.1 million jobs, bringing complete employment within the sector to 10.4 million, or roughly one in 9 jobs within the Center East, based on the WTTC.
Globally, worldwide customer spending is anticipated to rise by almost 16% this yr, reaching $1.9 trillion. Notably, a number of tourism locations are witnessing substantial will increase in worldwide spending in comparison with pre-pandemic ranges, with Saudi Arabia and Egypt seeing important surges of 91.3% and 22.9%, respectively, in comparison with 2019 figures.
