UAE hotels report 27% revenue surge in 9 months

File picture

The revenue of hotels in the UAE surged to AED 32.2 billion in the first nine months of 2023, marking a 27 per cent growth compared to the same period in 2022.

Between January and September 2023, hotels hosted more than 20 million guests to register a 12 per cent increase year-over-year.

Meanwhile, the occupancy rate hit 75 per cent, reflecting a six per cent growth.

These figures were revealed by Abdulla bin Touq Al Marri, Minister of Economy and Chairman of the Emirates Tourism Council, during a meeting of the council on Thursday.

He said that these indicators play a crucial role in elevating the tourism sector's contribution to the UAE's GDP to AED 450 billion by the next decade under the 'We The UAE 2031' vision.

The fourth edition of the 'World’s Coolest Winter' campaign was launched earlier this month, targeting citizens, residents and tourists.

It will shine the spotlight on various tourism, natural and entertainment attractions and experiences across the UAE, under the theme 'Unforgettable Stories.'

More from Business

  • Aviation sector contributes $4.1 trillion to global economy

    The UAE's Minister of Economy and Chairman of the General Civil Aviation Authority (GCAA), on Monday emphasised the aviation sector's critical role in the global economy, noting that it accounts for 12 to 13 per cent of GDP in some countries and supports millions of jobs worldwide.

  • Paris AI summit draws world leaders

    World leaders and technology executives are convening in Paris on Monday to discuss how to safely embrace artificial intelligence at a time of mounting resistance to red tape that businesses say stifles innovation.

  • 16% growth in new economic licences in Abu Dhabi during 2024

    The Abu Dhabi Registration and Licensing Authority (ADRA), which develops and regulates the business sector, on Monday revealed significant growth in business licences and compliance indicators in the Emirate's mainland and non-financial economic free zones during 2024.

  • DEWA updates billing on water consumption

    Dubai Electricity and Water Authority (DEWA) has announced that it will adopt the cubic metre as the standard unit for measuring water consumption starting from the March 2025 billing cycle.

  • UAE, Japan to complete CEPA by end of year

    The UAE Minister of State for Foreign Trade, Dr. Thani bin Ahmed Al Zeyoudi, has said negotiations for the Comprehensive Economic Partnership Agreement (CEPA) between the UAE and Japan will be completed before the end of 2025.