Dubai has quickly become a popular business and tourist destination for international visitors and the hotel industry is thriving. With this number of visitors to the country, the hotel sector has seen a rapid increase in bookings, prompting hotels to introduce more than 1,000 additional hotel rooms in the fourth quarter of 2013 and an additional 5,500 hotel rooms scheduled for completion. in 2014.
The UAE is currently among the top five countries in the world for new hotel development. Currently, the occupancy rate remains stable at a solid 85%, an increase of 3.9% compared to the same period of 2012 in budget and five-star hotels.
The dynamic hospitality sector in Dubai continued to outperform other markets in the region with strong growth across all key performance indicators. Dubai’s hotel market reached the highest RevPAR since 2008 this year and average daily rates marked an increase of 5.2% from 2012, which are still gradually increasing due to high demand, making Dubai one of the hotel markets. best performing worldwide.
Dubai International Airport recently surpassed Heathrow Airport as the world’s busiest airport, with more than 18 million international passengers passing through the center in the first quarter of 2014 alone, an increase of 11.4% over the same period last year. The near completion of Al Maktoum International Airport, with a capacity for 160 million annual passengers, will become the largest airport in the world, giving the country the ability to host a large increase in visitors.
With the victory of EXPO 2020, the staggering growth in the hospitality sector is expected to continue to serve the expected 25 million visitors to EXPO 2020. The expansion of Dubai’s hospitality industry is on track to increase capacity to more than 160,000 rooms.
Over the past two decades, Dubai has grown to become a leading global business hub, occupying a key position in the global real estate, tourism and commercial markets. Dubai’s modern infrastructure, convenient location, plethora of recreational activities, and tolerant social values make it a welcoming and comfortable city to call home.
Like the rest of the world, Dubai’s growth suffered as a result of the economic recession of 2009, but a new progressive chapter is unfolding, implanting a greater sense of optimism and growth in the country, its people and its visitors. Local currency concerns led to a significant restructuring of financial policies, which in turn, has created an economy that is now more transparent, accountable, and trustworthy. Dubai’s success is based on the vision and commitment of its inspiring leaders, who instill an impression of security and spirit in the nation.