Dubai – riding the wave
Dubai’s tourism market has exhibited rapid growth over the past three decades – and that growth is set to accelerate.
The thriving hospitality industry, which enjoys an impressive track record for its consistently high occupancy rates and reputation for service excellence, is set for a new phase of exponential growth that will catapult the Emirate to the ranks of the world’s most sought-after destination for international visitors.
Currently fueling the rapid upswing in hotel rooms and tourist attractions is Expo 2020 which will take place from October 2020 to April 2021. In the approach to the event, the Dubai government is targeting 20 million tourists per year (double 2010 levels). Some 25 million visitors are expected to attend the Expo itself, 17 million of which will be visitors to Dubai.
This rapid growth doesn’t stop with the Expo. Within a decade, the tourist numbers are expected to double to 31 million by 2027.
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Dubai is now the world’s fourth most visited city after London, Paris and Bangkok. Given the ambition of the Emirate, it is doubtful that it will remain in fourth position for very long. The city sits as in a strategic hub between the west and the east and is one of the reasons it has overtaken Heathrow to become the world’s busiest airport handling over 84 million passengers in 2016. Passenger numbers are projected to reach 103.5 million by 2020 with an ultimate capacity of more than 160 million passengers per year. A third of the world’s population sits within four hours and within seven hours you can be in London, Moscow, Beijing or Mumbai.
With such unprecedented growth, the tourism, leisure and hospitality market is an extremely attractive area to invest. If you would like to learn how you could earn up to 18% net per annum then please download our Dubai investor pack – investments start from $360,000.Back to news