Business | Tourism
Tourism sector to grow to $3tr in 20 years
The amusement and leisure industry in the UAE is receiving large investments as the country puts strong emphasis on touism amid its surging economic growth.
- By Nadia Saleem, Staff Reporter
- Published: 23:50 April 20, 2008
Dubai: The amusement and leisure industry in the UAE is receiving large investments as the country puts strong emphasis on touism amid its surging economic growth.
The International Association of Amusement Parks and Attractions (IAAPA) has projected regional growth in leisure and tourism projects to reach $3 trillion over the next 20 years.
Over $1 trillion of that is to be committed to developing the country's leisure landscape. Dubai Municipality spent Dh27 million ($7.3 million) on developing a new Pond Park in Al Ghusais earlier this year, while Al Ain Zoo is set to be transformed into a $1 billion leisure and wild-life destination by 2010.
Tatweer's Universal theme park, being developed in Dubailand, represents an investment of Dh8 billion ($2.17 billion), while a $2.5 billion Hollywood-themed park is also planned for the UAE.
Following the patterns of tourism growth, of which amusement and entertainment is a large part, is Dubai Entertainment, Amusement and Leisure (Deal) show.
"The entertainment and leisure industry has contributed significantly to the UAE GDP for several years now," said Mohammad Falaknaz, vice-president of the show and organisers International Expo Consults (IEC).
Entertainment
He said 75 per cent of the participants have been involved since the beginning of the show 14 years ago while 25 per cent are new participants.
"We are seriously looking to serve the entertainment needs of the families that come to UAE with this show," Falaknaz said.
He claims the show is among the top ten held at DWTC every year.
Taking place in Dubai World Trade Centre, the show was launched on Sunday and will run till Monday. About 200 companies from 30 countries are taking part.
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