Local Market Revives UAE Tourism Sector, Accounts for 58% of Total Number of Hotel Guests

More than 75 million hotel nights were booked in all the seven United Arab Emirates in 2021. (Asharq Al-Awsat)
More than 75 million hotel nights were booked in all the seven United Arab Emirates in 2021. (Asharq Al-Awsat)
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Local Market Revives UAE Tourism Sector, Accounts for 58% of Total Number of Hotel Guests

More than 75 million hotel nights were booked in all the seven United Arab Emirates in 2021. (Asharq Al-Awsat)
More than 75 million hotel nights were booked in all the seven United Arab Emirates in 2021. (Asharq Al-Awsat)

The local market has revived the UAE tourism sector by acquiring 58% of the total number of the 19 million hotel guests, compared to 42% tourists, according to a report released on Tuesday.

Hotel establishments achieved a growth of more than 29% in 2021 compared to the number of guests recorded in 2020.

According to the report, revenues from the sector grew by about 70% in 2021 at 28 billion dirhams ($7.6 billion dollars) compared to 2020.

These figures were released after the Emirates Tourism Council (ETC) held its first meeting this year, chaired by Dr. Ahmad al-Falasi, the Minister of State for Entrepreneurship and Small and Medium Enterprises.

Heads and directors of all local tourism departments and authorities attended the meeting.

More than 75 million hotel nights were booked in 2021, up 42% compared to 2020, while the hotel occupancy rate amounted to 67%.

The number of hotel establishments in the UAE also increased during 2021 by five percent compared to 2020, reaching 1,144 establishments.

So did the number of hotel rooms, which increased by eight percent to reach 194,000 rooms across the emirates.

Falasi said these positive results reflect the efficiency of the policies adopted by the UAE to support and develop the national tourism sector.

He pointed out that many of these figures are close to the growth rates achieved in the pre-pandemic period, which indicates the full recovery of the national tourism sector.

He further underlined the importance of the contribution of the recent major events and initiatives organized by the country.

These include Expo 2020 Dubai, which attracted more than 24 million visitors in six months, and the second edition of the World’s Coolest Winter campaign, which generated revenues amounting to 1.5 billion dirhams.



Oil Edges Up on Strong US GDP Data

A pumpjack brings oil to the surface in the Monterey Shale, California, US April 29, 2013. REUTERS/Lucy Nicholson/File Photo
A pumpjack brings oil to the surface in the Monterey Shale, California, US April 29, 2013. REUTERS/Lucy Nicholson/File Photo
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Oil Edges Up on Strong US GDP Data

A pumpjack brings oil to the surface in the Monterey Shale, California, US April 29, 2013. REUTERS/Lucy Nicholson/File Photo
A pumpjack brings oil to the surface in the Monterey Shale, California, US April 29, 2013. REUTERS/Lucy Nicholson/File Photo

Oil prices were up slightly on Friday on stronger-than-expected US economic data that raised investor expectations for increasing crude oil demand from the world's largest energy consumer.

But concerns about soft economic conditions in Asia's biggest economies, China and Japan, capped gains.

Brent crude futures for September rose 7 cents to $82.44 a barrel by 0014 GMT. US West Texas Intermediate crude for September increased 4 cents to $78.32 per barrel, Reuters reported.

In the second quarter, the US economy grew at a faster-than-expected annualised rate of 2.8% as consumers spent more and businesses increased investments, Commerce Department data showed. Economists polled by Reuters had predicted US gross domestic product would grow by 2.0% over the period.

At the same time, inflation pressures eased, which kept intact expectations that the Federal Reserve would move forward with a September interest rate cut. Lower interest rates tend to boost economic activity, which can spur oil demand.

Still, continued signs of trouble in parts of Asia limited oil price gains.

Core consumer prices in Japan's capital were up 2.2% in July from a year earlier, data showed on Friday, raising market expectations of an interest rate hike in the near term.

But an index that strips away energy costs, seen as a better gauge of underlying price trends, rose at the slowest annual pace in nearly two years, suggesting that price hikes are moderating due to soft consumption.

China, the world's biggest crude importer, surprised markets for a second time this week by conducting an unscheduled lending operation on Thursday at steeply lower rates, suggesting authorities are trying to provide heavier monetary stimulus to prop up the economy.