FINANCIAL NEWS

Tourism contributed 14% to UAE’s GDP in 2012: WTTC

18 Mar 2013

(MENAFN) A recent report by the World Travel & Tourism Council (WTTC) showed that the UAE’s travel and tourism industry is growing at a faster pace than the world growth average, Arabian Business reported.

According to the report, the tourism sector contributed 14 percent to the UAE economy in 2012, well above the global trend of 9 percent.

The report also said that the industry brought USD52.7 billion to the Gulf state’s gross domestic product in 2012, expecting the figure to increase by 3.2 percent this year.

The data released by the WTTC also showed that one in nine of all jobs in the country are resulting from the industry, which beats the global average of one in 11 jobs.

Travel and tourism has created a total of 383,500 jobs in the UAE in 2012 and is expected to further rise by 2.6 percent to 393,500 jobs this year, compared with a global expected increase of 1.7 percent, the data showed.

WTTC said that USD22.54 billion, or almost 23 percent of the country’s total investment last year, was injected into the industry in 2012, and the amount is expected to rise by 12 percent in 2013.

It is worth noting that the UAE is expected to receive a total of 25.8 million tourists over the next 10 years, generating visitor expenditure of USD56.4 billion, an increase of 5 percent per annum.

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