Tourist influx in Dubai sets positive pace of growth for hospitality sector: JLL

Tourist influx in Dubai sets positive pace of growth for hospitality sector: JLL

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 percent 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 percent for the first two months of the year. Moreover, Dubai and Abu Dhabi hosting events such as Gulf Food and IDEX further aided operators in delivering a formidable performance.

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Faraz Ahmed, Associate, Research at JLL MENA, said: “While all sectors continued to build on the performance of 2022, the year’s well-planned calendar of events coupled with the continuous increase in tourist numbers, have firmly placed the hospitality sector on a growth track, reaffirming its position as one of the strongest pillars supporting the UAE’s economic acceleration. However, macroeconomic