Sheikh Mohammed Introduces A Strategy For UAE Tourism To Draw $100 Billion In Capital

His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE, on Friday, announced a national tourism strategy to attract 40 million hotel guests by 2031 in what is perceived as a special effort to revive and boost the economy.

By targeting a massive Dh100 billion in tourism investment to the country, the strategy, which was unveiled in front of Cabinet ministers and senior government officials, seeks to strengthen the position of the UAE as one of the best travel destinations in the world.

UAE Launches ‘national Tourism Strategy 2031’ To Meet Their Goal Of Dh100 Billion In Investments

Reflecting Sheikh Muhammad’s own statements, tourism is one of the central tenets of the UAE economy and such a broad plan is capable of doing wonders in terms of GDP contributions and growth in investments.

Upon the cessation of the conference, The Prime Minister took to Twitter to make the announcement to the world.

“Today, we adopted our national tourism strategy until 2031,” Sheikh Mohammed said on Twitter.

He continued by saying that the UAE is one of the top 10 travel destinations in the world and that we want to increase our competitiveness by luring Dh100 billion in new tourism investments and hosting 40 million hotel guests by 2031.

The strategy, which consists of 25 programs and initiatives to support the growth of the tourism industry in the nation, seeks to increase the sector’s GDP contribution to 450 billion dirhams annually, attract new investments totaling 100 billion dirhams to the tourism industry in the nation, and draw 40 million hotel guests.

The strategy is based on four main pillars: enhancing a single, cohesive national tourism identity; creating and diversifying specialized tourism products; enhancing tourism capabilities; encouraging national cadre participation in the tourism sector; and raising investment levels across the board.

Furthermore, the strategy will promote investment in the tourism, aviation, and hospitality industries, open up new opportunities to invest, and draw more foreign businesses to the regional market.

The Rise In Tourist Numbers: A Positive Railroad Ahead

According to reports from the ministry, UAE  has once again experienced an upward rise in the number of tourists this year which is dubbed as a number far higher than the pre-pandemic period with regard to the nation’s tourism, commercial, and development sectors.

The new data showed that the tourism sector’s revenue exceeded Dh19 billion during the first half of this year, surpassing the strong performance of the sector predicted at a Cabinet meeting in September and that the total number of hotel guests during the same period reached 12 million, up 42%.

Between January and August, Dubai recorded an increase in foreign visitors of 182% year over year.

According to the data, the number of occupied room nights increased by 28% yearly in the emirate between January and August of 2019 and was 17% higher than pre-coronavirus levels at just under 24 million.

During the second quarter of this year, passenger volume at Abu Dhabi International Airport also nearly doubled.

Hotels in Dubai and Abu Dhabi may expect occupancy rates of between 80% and 100% as a result of the Fifa World Cup, with strong demand patterns equivalent to those witnessed during the peak of Expo 2020 Dubai, according to the top local and international hotel chains operating in the UAE.

To produce maximum output, the Ministry of Economy has reportedly joined forces with a number of local and federal institutions and organizations to develop the much-anticipated National Tourism Strategy 2031, including the Ministry of Foreign Affairs and International Cooperation, the Federal Authority for Identity, Citizenship, Customs, and Port Security, the UAE Central Bank, the General Civil Aviation Authority, the UAE airlines, the World Tourism Organization, and a number of international companies.