The UAE travel market is predicted to experience stellar growth in the coming years. After having seen a sharp drop in the number of visitors during the economic turndown, the industry grew substantially in 2013 mainly driven by international tourists. The country recorded a total expenditure of USD 10.1 billion from the 12.4 million tourists who visited the country in 2013. All allied industries like airline, hotels, car rentals and travel intermediaries also recorded a growth during the review period citing the influx of both domestic and international tourism.
This report: Travel and Tourism in the UAE to 2018 focuses on the key market drivers, trends and dominant market players of the industry. It also provides key insights into the present market scenario, with a detailed market overview and market outlook.
Market drivers
Market analysts are of the view that the UAE tourism industry is expected to grow steadily between 2014 and 2018, fuelled by several government programs, both at domestic and global levels. The government of UAE has increased investment on medical tourism, infrastructure and expansion of flight routes to lure more travelers to this part of the world. It has been predicted that the majority of the investment will be pooled into Abu Dhabi and Dubai, as these two regions have a strong growth potential in the following years. Moreover, the UAE government has also been encouraging the market to actively participate in international events in US, Russia, UK and developing nations like China and India, in order to stimulate the industry and brand themselves as the next best tourism destination.
Another factor which is driving the market is the rising disposable incomes of domestic explorers who are expected to splurge on tourism in the forecast period. The market would be further propelled by the advent of a middle-income groups based in Middle East. Consequently, the tourism market in UAE is also expected to create more jobs reaching a number of 523000 in 2014, from 496500 jobs in 2013. Moreover the UAE continues to maintain its strong appeal amongst travelers owing to its image as a safe holiday destination alongside already being branded as a major shopping hub.
Key market players
There are certain companies which are cashing in on growth opportunities in this market including The Emirates Group, Saudi Arabian Airlines UAE, Dubai Aviation Corporation, Qatar Airways UAE, Air India UAE, InterContinental Hotels United Arab Emirates, etc., which are some of the dominant market players. In May 2014, The Emirates Group declared that it earned profits of USD 887 million and revenue of USD 22.5 billion, proving that it remained unaffected by competition and global recession which hit the world a few years ago.
For further insights,
Visit: Government initiatives drive growth in the UAE tourism market
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