Summarize this content to 2000 words in 6 paragraphs
The UAE’s hotel sector posted record results in 2024 — before the recent global market turmoil. Abdulla bin Touq Al Marri, UAE Minister of Economy and Chairman of the Emirates Tourism Council, announced that hotel revenues in the country reached approximately 45 billion Emirati Dirhams (US$12.3 billion) last year — a 3% year-over-year increase.
Hotel occupancy hit 78%, one of the highest globally, supported by the launch of 16 new properties. That brought the total number of hotels to 1,251 and boosted the country’s room supply to nearly 217,000.
In 2024, hotel guest numbers reached 30.8 million — a 9.5% rise.
“We are focused on building capacity, fostering Emirati participation, and driving greater investment across all areas of the tourism ecosystem,” said Bin Touq.
In January and February, Dubai, the most popular emirate in the UAE for tourism, had a 4% year-on-year rise to 3.82 million international visits.
It’s unclear whether the momentum can carry into 2025. Skift Research has lowered its 2025 global travel growth forecast to 2% to 5%, down from the 6% to 9% projected at the start of the year.
Dubai’s tourism is less tied to the Americas than from European and Asian markets. Up to February this year, 260,000 travelers from the Americas visited Dubai, compared to well over a million from Asia and Europe.
In 2020, while global travel tanked, key Middle Eastern destinations managed to stay afloat through domestic business. In Dubai, domestic tourism accounted for 52% of all hotel guests, or 4.55 million. Domestic travelers had previously accounted for 20-25% of Dubai’s hotel guests. Across the UAE in 2020, domestic tourism accounted for $11.3 billion of the $19.4 billion tourism generated that year.
Accommodations Sector Stock Index Performance Year-to-Date
What am I looking at? The performance of hotels and short-term rental sector stocks within the ST200. The index includes companies publicly traded across global markets, including international and regional hotel brands, hotel REITs, hotel management companies, alternative accommodations, and timeshares.
The Skift Travel 200 (ST200) combines the financial performance of nearly 200 travel companies worth more than a trillion dollars into a single number. See more hotels and short-term rental financial sector performance.
Read the full methodology behind the Skift Travel 200.
Early Check-In helps you keep up with the latest hotel and hospitality news.
Get it in your inbox every Thursday.
By submitting this form, you agree to receive email communication from Skift.
