Dubai: The UAE travel and tourism sector is expected to create 245,000 jobs directly by 2023, registering an annual growth rate of 4.1 per cent, according to the latest research analysis released by Dubai Chamber of Commerce and Industry.
The analysis also found that capital investment in the sector is expected to rise annually by an average of 4.5 per cent, to reach Dh143.4 billion in 2023. This would increase travel and tourism’s share of the UAE’s total private investments to about 23.2 per cent, up from 22.8 per cent in 2013.
The UAE is ranked the 28th among 139 countries and the first in the Middle East in the World Economic Forum’s ‘Travel & Tourism Competitiveness Report 2013’. Dubai plays a lead role, holding a 66 per cent share of the UAE’s tourism economy, with Abu Dhabi having 16 per cent, and Sharjah 10 per cent.
