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FINANCIAL NEWS
UAE’s hotel revenues to hit USD10.9b in 2019
28 Sep 2015
(MENAFN) Newly released data showed that the annual revenues of hotels in the UAE are expected to double by 2019 to hit USD10.9 billion from USD5.9 billion recorded in 2013.
Meanwhile, visitor attraction revenues are also predicted to log a double-digit rise from USD521 million in 2013 to more than USD1.2 billion by 2019, Euromonitor International’s report showed.
This year, UAE hotel revenues are forecast to reach USD7.3 billion, while visitor attraction revenues will hit USD638 million. The UAE is the number one market in the MENA region in terms of hotel room revenues.
Saudi Arabia currently leads the market for visitor attractions with USD4.6 billion in revenues forecast for 2015 versus only USD638 million expected for the UAE, the report revealed.
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