Market Insights; Luxury Hotels UAE provides an overview of the United Arab Emirates Luxury hotel market, analyzing market data and providing insights. This report provides a better understanding of the number of tourists arriving to the UAE, where they are staying, their spending habits and future developments on the UAE tourist industry.
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6 Key Findings
UAE has a positive future with more than 12 million foreigners visiting in 2013, a figure that Travel and Tourism Intelligence Centre (TTIC) forecasts will increase to 18.6 million by 2018. The small emirate will expand its tourism industry significantly over the next 5 years as the government invests more to prepare for the hosting of major global events.
Between 2006-2014, the number of rooms sold has grown by 79% and the number of rooms available in the market has risen by 86% during this period. After years of consecutive growth, the UAE has finally returned to the pre-recession GDP levels with 4.3% annual growth in 2014.
The number of 5-star rooms has grown at a much faster rate than other segments of the hotel industry. Developments in the lower-end segment have been fairly flat in recent years, but there was some expansion in 2013. Of twelve hotels that opened in 2013, six were 5-star rated and three were 4 or 4.5-star rated.
Government investment in infrastructural development such as the Abu Dhabi International airport and efforts to expand the country’s tourism brand through the construction of major cultural icons such as the Guggenheim and Louvre museums will facilitate greater demand for trips to the UAE.
The UAE is situated in a precarious location. Potential regional overspill in the form of Islamic State could cause instability in a country where strict political control and repression of Islamist movements has occurred for decades.
The report provides detailed market...