A report by Euromonitor for the Hotel Show and The Leisure Show Dubai suggests UAE hotels’ annual revenues forecast set to reach US $10.9 billion by 2019, almost doubling from the US $5.9 billion figure recorded in 2013.
Visitor attraction revenues are also forecast to double from US$ 521 million recorded in 2013 to over US $1.2 billion by 2019.
In 2015, UAE hotel revenues are forecast to reach US $7.3 billion, while visitor attraction revenues will hit US $ 638 million.
Euromonitor International’s new report reveals that the UAE is leading the Middle East and North Africa for hotel room revenues, with over three times the amount recorded and forecast for Saudi Arabia and Egypt who follow. Also, The UAE currently leads the region for hotel construction to meet demand.
Saudi currently leads the market for visitor attractions, however, with US $ 4.6 billion in revenues forecast for 2015 versus US $ 638 million for the UAE
Read full article at: Hotelier Middle East