Large-scale projects and tourism-focused initiatives will give a major boost to Dubai’s hospitality industry this year.
Sister publication Arabian Business cited the report, highlighting JLL head of research MENA Dana Salbak saying: “Large-scale projects, new visa rules and Expo 2020 Dubai will boost tourist arrivals in the coming months.”
At the start of this year, H.H. Sheikh Mohammed bin Rashid Al Maktoum, UAE Prime Minister and Vice President and Ruler of Dubai announced a five-year, multi-entry tourist visa had been approved. It is expected this visa change will aid the UAE in becoming a global leader in tourism.
Expo 2020 taking place later this month is also hoped to be a major boost for UAE hospitality and tourism.
Salbak added: “Around 25 million visitors are expected in Dubai from 192 countries during Expo 2020 Dubai alone. These factors have ensured the hotel market, specifically, will maintain healthy performance levels, continuing the UAE’s status as a major global tourist and business destination. That said, in the year ahead, market performance will also heavily depend on how quickly some of the newly announced initiatives take effect.”Arabian Business noted that Dubai’s annual budget this year is AED66.4 billion, the largest ever approved.