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 most significant findings in the report is the projected increase in jobs within the sector. It is estimated that over 23,500 new jobs will be created, bringing the total number of jobs in the travel and tourism industry to nearly 833,000. This growth in employment highlights the sector’s importance in driving economic activity and providing opportunities for the workforce in the UAE.
The report also forecasts a rise in international visitor spending by nearly 10 percent, reaching AED192 billion, while domestic visitor spending is expected to increase by 4.3 percent to almost AED58 billion. These figures indicate a strong demand for travel and tourism activities within the country, further fueling the sector’s growth.
In 2023, the UAE’s travel and tourism sector had a record-breaking year, with significant increases in GDP contribution, employment, and visitor expenditure. The sector’s growth rate of 26 percent in 2023 surpassed previous records, solidifying its position as a key driver of the nation’s economy.
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. With robust job creation and increasing visitor spending, the sector is poised to make a significant impact on the country’s economy in 2024 and beyond.