ATM 2024: Tourism set to account for 12 percent of UAE’s GDP in 2024
In an important announcement at the Arabian Travel Market 2024 (ATM), Abdulla bin Touq Al Marri, UAE Minister of Economy, shared optimistic projections for the UAE’s tourism sector. He revealed that the sector is expected to contribute a substantial 12 percent to the nation’s gross domestic product (GDP) for the year, reaching an impressive AED236 billion.
“Our tourism sector has notably contributed 11.7 percent to the UAE’s GDP in 2023, tallying up to AED220 billion, as per the World Travel & Tourism Council (WTTC). This showcases the dynamic nature and significant impact of the sector on our economy,” Al Marri highlighted during the event.
A panel discussion at ATM 2024 brought together leading figures in the tourism industry from across the Gulf Cooperation Council (GCC) region. The focus was on the pivotal role of inter-regional cooperation in driving forward the GCC’s tourism industry. The discourse took a deep dive into how GCC destinations balance the act of collaboration with the spirit of competition, alongside evaluating the influence of initiatives like the GCC unified tourist visa on the accessibility, sustainability, infrastructure, and cultural exchange within the region.
Danielle Curtis, the Exhibition Director for the Middle East at ATM, reflected on the discussions, stating, “While healthy competition among GCC nations undoubtedly helps in enhancing our collective tourism offerings, it’s inspiring to see how collaborative efforts are also making the GCC greater than the sum of its parts in attracting global travelers.”
One of the standout topics at ATM 2024 was the GCC unified tourist visa and its potential in transforming the GCC into a seamless travel destination. The panelists deliberated on how such initiatives could not only improve the region’s accessibility and boost key performance metrics like the length of stay and average spending but also ensure the tourism industry’s positive spill-over effects on local businesses, communities, and ecosystems, which is crucial for the sustainable development of tourism across the GCC.
Moreover, the conversation shed light on the significance of developing strong infrastructure, such as enhanced airports, cruise terminals, and the highly anticipated GCC railway, to facilitate easier access within and among the Gulf nations. This is seen as a vital step in accommodating the diverse needs of both domestic and international tourists, thereby elevating the overall tourism experience in the region.
The discussions at ATM 2024 underscored a unified vision towards a prosperous tourism sector that not only contributes significantly to the economic fabric of the GCC but also promotes a sustainable and interconnected travel ecosystem.
