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Ritika Sharma / Emirates Business
Despite speculations about a slower economy affecting various sectors, the tourism and hospitality industry in the UAE is expected to experience an escalating capacity and exponential growth in the coming months, experts affirm. UAE, which is home to over 200 nationalities, is among the top five countries in the world in regard to the new infrastructure and development in the field of hospitality.
Over the years, Emirates has witnessed a good track record as far as high hotel room occupancy rates and numbers of projects, in the pipeline, are concerned.
Interestingly, experts believe that the overall growth in the sector of hospitality is greatly buoyed by emerging tourist destinations like Fujairah and RAK, apart from the famous ones like Dubai and Abu Dhabi.
“If you just look back a few years, you will not believe how far Fujairah has reached in terms of tourists’ arrival and its popularity as a tourist destination.
“Places like Fujairah and RAK are contributing to the overall tourism revenue of UAE because they offer a different experience, something that a city setting cannot give,†Patrick Antaki Complex general manager of Al Aqah and Al Maha resorts, told Emirates Business.
According to Alpen Capital’s GCC Hospitality Industry Report, the UAE’s hospitality market is likely to reach US$7.5 billion by the end of this year, up from US$4.5 billion (67 percent increase) in 2011. This growth is being credited to the increased demand of visitors for luxury tourism destinations.
“The GCC economies are expecting a resilient hospitality industry and mega events like the Qatar FIFA World Cup 2022 and the Dubai World Expo 2020, will definitely increase tourist arrivals. UAE can play an important role in setting the standards high for other countries in the GCC with options in hospitality for all kinds of tourist,†Sameera R. Suhail, Managing Director, at Suhail Travels, a travel-and tours planning company in Dubai, told Emirates Business.
However, defying the concerns about room rate dip and ultimately overall revenue plummet for hotels due to oil price slump, Emirates is
apparently on the path to becoming one of the most desired destinations for all travel enthusiasts, across the globe by 2020.
“Due to the forecasted increase in demand in this region, the sector is going through expansion, both investment and infrastructure wise. The industry will sustain this momentum towards a stable sector especially because the regional governments are very supportive. International tourist arrivals, especially those from the Asian countries, and the sprawling growth in the Meetings, Incentives, Conference and Exhibition (MICE) segment will also play an important role this year,†Suhail added.