Leaving behind New York and Istanbul, the emirate is estimated to receive almost 12 million overnight international visitors in 2014, up 7.5% from 2013. If the trend continues, Dubai will soon feature itself in the first three cities of the MasterCard Global Destination index.
According to the global economic advisor to MasterCard, Yuwa Hedrick-Wong, since 2009 the cross-border air travel and associated travel spending is growing faster than the world GDP. The continued growth in the travel industry depicts the continued interest and desire for new cultural experiences from all geographies, including travelers from emerging markets.
Dubai also generated the highest overnight visitor expenditure per resident at $3,863, the study said. The emirate also ranked as the fourth air hub in the world by international connectivity, representing a growth of 44.6 per cent in the last five years.
Dubai is aiming to attract around 20 million visitors by 2020 as part of its tourism strategy while the emirate is expected to receive an additional five million tourists through the Expo 2020 exhibition that year. According to Dubai’s Department of Tourism and Commerce Marketing (DTCM), around 11 million guests stayed in Dubai hotel in 2013 compared to 9.9 million in 2012.
The travel and tourism industry in UAE is expected to grow at an annual rate of 4.1% and create job opportunities for 2, 45,000 people by the end of 2023. The capital investment is going to rise by 4.5%.
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