UAE accounts for 86% of region’s tourism projects
The UAE will account for nearly 86% of all tourism projects in the Gulf between now and 2018, research has revealed.
Approximately AED 858 billion (US $234 billion) will be pumped into the sector during the next eight years, according to a study by industry specialist RNCOS.
Abu Dhabi is expected to be the centre of the construction boom in the UAE owing to government support to boost investment in the construction sector, said the report.
The latest figures revealed by Abu Dhabi Tourism Authority (ADTA) reveal visitor numbers to the emirate jumped 16% in July compared with the same month last year, representing the ninth consecutive month of double-digit growth guest growth.
“The UAE has one of the fastest growing tourism industries in the Middle East.
With the expansion of tourism industry in the past few years, demand for infrastructure and tourism projects has spurred in the country,” said RNCOS.
“As a result, several new projects have been announced to tap the opportunity created by the growing demand for hotels and amusement and theme parks.”
The research company added: “The UAE is expected to invest more than 14 times the investments made by its immediate competitor, Oman, followed by Qatar, Bahrain, Saudi Arabia and Kuwait.”
The study also revealed that factors such as relaxed regulations, rising investments, economic reforms and liberalisation and the emergence of UAE as a business hub in the Gulf had been driving the tourism industry.