Business | Tourism
UAE tourism attracts Dh257b investment
More than Dh257 billion has been pumped into the UAE's hotel and tourism sector, Shaikha Lubna Al Qasimi, Minister of Foreign Trade, said on Monday.
- Staff Report
- Published: 00:03 May 13, 2008
- Image Credit: Karl JeffsGulf News
- Shaikha Lubna at the opening ceremony of the GlobalStar annual conference.
Dubai: More than Dh257 billion has been pumped into the UAE's hotel and tourism sector, Shaikha Lubna Al Qasimi, Minister of Foreign Trade, said on Monday.
The UAE has been ranked the leading Arab tourism destination and is among the top 20 in the world out of 124 countries surveyed by the World Economic Forum.
"The travel and tourism sector has become a major growth area of the UAE and an important component of its economic diversification efforts.
"Our country has become a preferred leisure and business destination because of the unique mix of modernity and rich Arab heritage that we offer travellers," Shaikha Lubna told delegates at the sixth GlobalStar Annual Conference yesterday.
The sector is expected to generate Dh286.2 billion in revenues and contribute 6.4 per cent directly to the national GDP in 2008 and expand to Dh498.8 billion by 2018.
With six international airports and 15 ports, the UAE will continue to be easily accessible for the global traveller, she said.
More than 150 delegates from 60 countries representing GlobalStar, a group of travel management companies, attended the event.
Business Editor's choice
-
‘Wrong Way' Krugman
The source of our economic malfunction lies with government-mandated bank regulations
-
Greek exit could make Eurozone stronger
Departure will show limits of bailouts and allow remaining members to act much more like a unit
-
UAE upholds values of free trade
Recently released statistics confirm an established fact, namely that of the UAE embracing the free trade principle in general and imports in particular
