The travel and tourism sector, a pivotal growth driver of the UAE economy, is expected to record a steady surge in spending, which is estimated to reach over $56 billion in 2022 as new mega projects come to market, travel and tourism industry analysts said.
Growth within the UAE’s travel market will likely be supported by several recently announced projects, including Marsa Al Arab, a $1.7 billion mega tourist resort near the Burj Al Arab, the new IMG Worlds of Legends theme park, a Formula One theme park at Dubai’s Motor City, Six Flags at Dubai Parks and Resorts, in addition to a number of planned shopping malls and cultural venues.
Marsa Al Arab
Dubai jumped to the world’s top rank based on visitor spending of $31.3 billion, according to the annual Mastercard Global Destinations Cities Index. Dubai also ranks as the world’s fourth-ranked destination city by international overnight visitor arrivals after Bangkok, London and Paris, while Abu Dhabi has become the world’s third fastest-growing destination for international visitors.
Source Credit: Khaleej Times
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