UAE hotel revenues jumped nearly 30% to $8.7bln in first 9 months of 2023

UAE hotel revenues jumped nearly 30% to $8.7bln in first 9 months of 2023

Hotels across the UAE saw their revenues surge by nearly 30% in the first nine months of the year due to a huge influx of visitors.

Total revenues between January and September 2023 reached AED32.2 billion ($8.7 billion), up by 27% from the same period in 2022, said Abdulla bin Touq Al Marri, Minister of Economy and Chairman of the UAE Tourism Council, in a statement on Thursday.

He said the number of hotel guests in the seven emirates reached 20.2 million during the same period, posting a 12% increase from a year earlier.

Hotel occupancy rate also averaged 75%, reflecting a 6% year-over-year increase.

The latest figures “play a crucial role” in achieving the UAE’s national target to increase the tourism sector’s GDP contribution to AED450 billion by the next decade, the minister said.

The UAE has recently launched this year’s edition of its annual winter tourism campaign in a bid to further boost visitor traffic.

The “World’s Coolest Winter 2024” seeks to promote the UAE as a must-visit destination during the winter season.

(Writing by Cleofe Maceda; editing by Seban Scaria)

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