UAE Journey and Tourism sector set to get better this 12 months, says WTTC

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The World Journey & Tourism Council’s (WTTC) 2023 Financial Impression Analysis (EIR) at present reveals the UAE Journey & TourismUAE Travel and Tourism sector is projected to satisfy the 2019 peak this 12 months.

The sector is about to contribute AED 180.6 billion to the UAE financial system by the tip of 2023, virtually matching the 2019 excessive AED 183.4 billion, only one.5% behind pre-pandemic ranges. This represents practically 10% of the entire financial system.

WTTC can also be forecasting that the sector will create practically 7,000 jobs this 12 months, surpassing the pre-pandemic peak of 745,100, to achieve greater than 758,000 employed by Journey & Tourism.

A glance again on final 12 months

Final 12 months, the Journey & Tourism sector’s GDP contribution grew greater than 60% to achieve practically AED 167 billion, representing 9% of the nation’s financial system.

The sector additionally created greater than 89,000 extra jobs from the earlier 12 months to achieve greater than 751,000 jobs nationally, surpassing 2019 ranges by an extra 6,000 jobs.

2022 noticed the return of worldwide travellers to the UAE, with India (13%), Oman (8%), Saudi Arabia (8%), and UK (7%) main as supply markets for worldwide arrivals.

In accordance with the information, in 2022, worldwide guests contributed AED 117.6 billion to the nationwide financial system, representing a year-on-year development of 65.3%, though 19% behind 2019 ranges.

When it comes to home spend, 2022 noticed a 35.7% year-on-year bounce, reaching AED 46.9 billion, 10.6% above its pre-pandemic counterpart.

Julia Simpson, WTTC President & CEO, stated: “The nationwide Journey & Tourism sector is recovering at a speedy tempo, proving the UAE continues to develop in recognition amongst worldwide travellers. The UAE is residence to one of many world’s busiest and profitable airports, Dubai Worldwide, which acts as a gateway to the Center East.

“The longer term for the sector seems constructive. By the tip of this 12 months, the sector’s contribution will stage that of 2019, and over the subsequent decade, development will outstrip the nationwide GDP and create greater than 114,000 new jobs, representing one in 9 jobs.

“Our latest Cities EIR Report highlighted the enchantment vacationer locations throughout the nation, akin to Dubai and Abu Dhabi, proceed to carry for worldwide travellers. These cities have proven an unimaginable resilience and powerful management.”

What does the subsequent decade appear like?

The worldwide tourism physique is forecasting that the sector will develop its GDP contribution to AED 235.5 billion by 2033, representing 10.2% of the UAE financial system.

Over the subsequent decade, Journey & Tourism is about to make use of greater than 872,000 individuals throughout the nation, representing practically 12% of all jobs.

Center East

In 2022, the Center East’s Journey & Tourism sector contributed greater than AED 1.2 trillion to the regional financial system, 25.3% beneath the 2019 peak. By the tip of this 12 months, WTTC forecasts the regional sector’s GDP contribution will attain greater than AED 1.5 trillion (U.S.$ 413.2 billion) and be inside touching distance of the 2019 highpoint.

In accordance with WTTC’s newest Financial Impression Report, the sector employed greater than 6.8 million individuals throughout the area final 12 months, a rise of 865,000 from the earlier 12 months, however nonetheless 8.7% behind the 2019 peak. The sector will practically get better the roles misplaced throughout the pandemic by the tip of this 12 months, solely 2% behind pre-pandemic ranges.

Over the subsequent decade, the Journey & Tourism sector is projected to achieve a contribution of practically AED 2.5 trillion and make use of greater than 9.8 million individuals.



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