Dubai welcomed over 1.47mln tourists in January

Dubai welcomed over 1.47mln tourists in January

- In the first two months of the year, Dubai welcomed over 3.1 million tourists, up by 42% compared to the previous year

- In Dubai and Abu Dhabi, total retail stocks rose to 4.7 million sq. m. and 3.11 million sq. m. respectively, in the first quarter

- Off-plan transactions dominated the residential segment, outperforming existing properties in terms of value and volume in both the emirates

- Average Grade A rents in Dubai’s CBD rose by 16% Y-o-Y followed by the capital recording a 9% Y-o-Y increase in city-wide average Grade A rents

Dubai, United Arab Emirates – Fueled by a steady influx of tourists from three top source markets, namely, India, Russia, and Oman, the UAE’s hospitality sector witnessed a strong growth trajectory in the first quarter of 2023, according to the latest JLL UAE Real Estate Market Overview Report.

Dubai welcomed around 3.1 million tourists in the first two months of 2023, representing a 42% increase as compared to the same period last year. The rise in inbound tourism also benefited the lower and mid-tier hospitality segments, which saw gains between 7-8 basis points (bps) in occupancy and RevPAR (revenue per available room) of 15% for the first two months of