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FINANCIAL NEWS
UAE tourism sector to reach USD7.67bn
13 Jul 2016
(MENAFN) Visitor spending in the UAE will grow by 3.3 percent this year, as the country will attract more than 15mn foreign visitors, and will reach USD7.67bn.
On the other hand, visitor spending totaled USD23.5bn in 2014 and USD26bn in 2015, the equivalent of 60 percent of all service exports.
Furthermore, the UAE is also predicted to post a significant surge in total household spending to USD72.71bn in 2016, up from USD65.82bn in 2015.
The retail industry currently attracts 23 percent of whole foreign direct investment inflows to the UAE, which still offers investment chances.
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