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UAE HOSPITALITY INDUSTRY TO REACH $7.6 BILLION BY 2022

UAE HOSPITALITY INDUSTRY TO REACH $7.6 BILLION BY 2022

  • By:admin
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  • Dec 03,2020
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  • 30 Comments

The UAE’s hospitality industry is upbeat on the second half of 2018 and ready to welcome 2019 on a positive note.

The sector has received massive support from the government in terms of new policies, opening of new tourist destinations, exemption from value-added tax (VAT) for tourists, preparations for Expo 2020 Dubai – these are some of the prime growth drivers that will steer forward the growth trend.

The UAE hospitality market is expected to reach $7.6 billion by 2022 at a five-year CAGR of 8.5 per cent (2017-2022) and international tourist visits are expected to grow at a five-year CAGR of 4.3 per cent to 25.5 million whereas the hotel supply is expected to grow at a five-year CAGR of 6 per cent to 183,718 hotel rooms, shows Alpen Capital’s latest report on GCC Hospitality Industry 2018.

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