Page 38 - MOE ENGLISH PR - APRIL 2024

Press Release

H.E. Bin Touq added: “The hospitality sector is one of the key pillars of the UAE’s tourism sector,
known for its exceptional diversity within the region. Renowned for its superior services, upscale
hotel establishments and distinctive resorts, the sector is well-equipped to cater to the diverse needs
of tourists and visitors of all age groups. Not only does this vital sector boost the country's appeal
for tourism investments, but also plays a pivotal role in driving tourism growth, entertainment
offerings, and MICE tourism and creating job opportunities. The Hospitality Advisory Committee
was formed with an aim to strengthen the collaboration between the public and private sectors to
enhance the UAE's hospitality sector in line with global best practices.”

“The Committee meeting is a significant milestone in bolstering our efforts to achieve the National
Tourism Strategy 2031, which aims to enhance the UAE's reputation as a leading global tourism
destination. The strategy also seeks to increase the sector's contribution to the national GDP to
AED 450 billion, attract AED 100 billion of fresh investments to the local tourism industry, and
draw in 40 million guests to our hotel facilities by 2031. This meeting plays a vital role in advancing
the efforts to drive the growth of activities and sectors linked to the UAE tourism industry,” H.E.
added.

In addition, during the meeting, H.E. reviewed various indicators and outcomes that affirm the
UAE tourism sector's leadership. These include a surge in hotel revenues that amounted to AED
43.5 billion in 2023, showcasing a remarkable growth of 15 per cent compared to that of 2022.
Furthermore, the number of hotel guests across the seven emirates reached 28 million in 2023,
reflecting an 11 per cent growth, with a total of 97.3 million hotel nights. Hotel occupancy rate
reached 75 per cent in 2023, compared to the previous year's rate of 71.2 per cent, achieving one
of the highest rates achieved by leading global tourism destinations.

H.E. highlighted that the tourism industry in the country continued to showcase a remarkable
performance at the start of this year. During the months of January and February 2024, the hotel
occupancy rate surpassed 82.6 per cent, leading to total hotel revenues of approximately AED 9.1
billion. This represents a significant 12 per cent increase compared to the corresponding period last
year. Additionally, the country's hotels welcomed 5.4 million guests during January and February
2024, up10 per cent compared to the same period in 2023.

The Committee deliberated on a range of mechanisms that would facilitate collaboration with
related tourism entities, with the objective of exploring more enablers to bolster the leadership
position of the UAE’s hospitality industry. Additionally, the meeting emphasized the significance
of the “World’s Coolest Winter” campaign in stimulating the growth of this pivotal sector and
augmenting domestic tourism revenues, while also attracting more international companies to the
local market. Besides, the meeting underscored the importance of education and training in the
tourism and hospitality field and explored opportunities for UAE nationals in this particular sector.

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