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Arabian Business

UAE hotel revenue up to $10.1bn from January to October last year

UAE hotel revenue passed $10bn in the first 10 months of 2024, according to official figures. The UAE's tourism sector continues its positive trajectory, driven by the leadership's forward-thinking vision, said Abdulla bin Touq Al Marri, Minister of Economy and Chairman of the UAE Tourism Council. Hotel establishments generated approximately AED37.1bn ($10.1bn) in revenue from January to October 2024, marking a 4 per cent increase compared to the same period in 2023. UAE hotel revenue The hotel occupancy rate also saw growth, reaching nearly 78 per cent, up 2.7 per cent 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 AED450bn ($122.5bn) by 2031. Chairing the first 2025 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.