Report predicts UAE’s travel and tourism sector to boost GDP by $64.25 billion in 2024

The travel and tourism sector in the UAE is set to experience continued growth in 2024, according to a recent report by the World Travel & Tourism Council (WTTC). The report predicts that the sector will contribute over AED236 billion ($64.25 billion) to the country’s GDP, up from AED220 billion ($59.9 billion) in the previous year.

One of the key highlights of the report is the projected increase in the number of jobs in the sector, with over 23,500 new jobs expected to be created, bringing the total to nearly 833,000. This growth in employment reflects the sector’s importance in driving economic activity and providing opportunities for the workforce in the UAE.

In addition, the report forecasts a significant rise in both international and domestic visitor spending. International visitor spending is expected to grow by almost 10 percent, reaching AED192 billion, while domestic visitor spending is projected to increase by 4.3 percent to nearly AED58 billion.

The UAE’s travel and tourism sector had a record-breaking year in 2023, with a growth rate of 26 percent and a GDP contribution of AED220 billion. The sector also saw strong job growth, with employment surpassing 809,000 jobs, representing one in nine jobs in the country.

Overall, the report paints a positive picture of the travel and tourism sector in the UAE, highlighting its resilience and potential for continued growth in the coming years.