Latest news with #AED37.1
Trade Arabia
21-02-2025
- Business
- Trade Arabia
UAE hotels net $10bn in revenue during first 10 months of 2024
Hotel establishments across the UAE generated AED37.1 billion ($10 billion) in revenue during the period from January to October 2024, up 4% over the previous year, reported Wam, citing a senior minister. "The UAE's tourism sector continues its positive trajectory, driven by the leadership's forward-thinking vision," remarked Abdulla bin Touq Al Marri, the Minister of Economy and Chairman of the UAE Tourism Council, while chairing the first 2025 UAE Tourism Council meeting. The hotel occupancy rate also saw growth, with the figures jumping to 78%, up 2.7 percent from the corresponding period last year, stated Al Marri. These figures highlight the expanding growth of Emirati tourism across various sectors, supporting the National Tourism Strategy 2031. This strategy is designed to boost the tourism sector's GDP contribution to AED450 billion by 2031, reported Wam. During the meeting, Al Marri highlighted innovative projects and initiatives as drivers of anticipated sector growth this year. The council, comprising heads and directors-general of local tourism authorities, discussed the successful outcomes of the fifth edition of the 'World's Coolest Winter' campaign and its crucial role in strengthening the UAE's position as a leading global tourism destination. The council also explored diverse tourism initiatives and projects planned for this year to further stimulate the sector's growth.
Zawya
20-02-2025
- Business
- Zawya
UAE hotels generate $10.10bln in first 10 months of 2024
ABU DHABI - The UAE's tourism sector continues its positive trajectory, driven by the leadership's forward-thinking vision, according to Abdulla bin Touq Al Marri, Minister of Economy and Chairman of the UAE Tourism Council. Hotel establishments generated approximately AED37.1 billion in revenue from January to October 2024, marking a 4 percent increase compared to the same period in 2023. The hotel occupancy rate also saw growth, reaching nearly 78 percent, up 2.7 percent from the corresponding period last year. Al Marri stated that these figures highlight the expanding growth of Emirati tourism across various sectors, supporting the National Tourism Strategy 2031. This strategy is designed to boost the tourism sector's GDP contribution to AED450 billion by 2031. Chairing the first 2025 UAE Tourism Council meeting, Al Marri highlighted innovative projects and initiatives as drivers of anticipated sector growth this year. The council, comprising heads and directors-general of local tourism authorities, discussed the successful outcomes of the fifth edition of the 'World's Coolest Winter' campaign and its crucial role in strengthening the UAE's position as a leading global tourism destination. The council also explored diverse tourism initiatives and projects planned for this year to further stimulate the sector's growth.
Hi Dubai
20-02-2025
- Business
- Hi Dubai
UAE Tourism Sector Sees Strong Growth, Reports AED37.1 Billion in Hotel Revenues
The UAE's tourism sector continues its upward momentum, reflecting the leadership's strategic vision, according to Abdulla bin Touq Al Marri, Minister of Economy and Chairman of the UAE Tourism Council. From January to October 2024, hotel establishments across the country generated approximately AED37.1 billion in revenue, marking a 4% increase compared to the same period in 2023. Hotel occupancy rates also rose to nearly 78%, a 2.7% year-on-year growth. Al Marri emphasized that these figures demonstrate the sustained expansion of the Emirati tourism sector, aligning with the National Tourism Strategy 2031. The strategy aims to boost tourism's GDP contribution to AED450 billion by 2031, reinforcing the UAE's status as a global tourism hub. During the first UAE Tourism Council meeting of 2025, Al Marri highlighted key initiatives and innovative projects that are expected to drive further growth this year. The council, comprising top officials from local tourism authorities, reviewed the success of the fifth edition of the 'World's Coolest Winter' campaign, which has significantly strengthened the UAE's international tourism appeal. Discussions also focused on upcoming projects and initiatives aimed at enhancing the sector's performance in the coming months, ensuring the UAE remains a top destination for travelers worldwide. News Source: Emirates News Agency
