128.5 billion dirhams in revenues from the “luxury travel market” in the Emirates by 2030

The UAE is considered one of the most prominent global destinations for luxury tourism, benefiting from the development of its infrastructure and the high-level system of services it provides, in addition to the luxurious accommodations that meet the needs of visitors looking for unique and upscale tourist experiences.

The UAE has achieved qualitative leaps in this sector, and according to the “Grand View Research” report for research and studies on the luxury travel market in the UAE and its expectations (2023-2030), the revenues of the luxury travel market in the UAE during the year 2023 reached $18.6 billion (68 billion dirhams). , amid expectations that it will exceed $35 billion (128.5 billion dirhams) by 2030. The report expects that the compound annual growth rate of the luxury travel market in the Emirates will reach 9.5% from 2024 to 2030.

The compound annual growth in the UAE until 2030 exceeds the global growth rate of 7.9%, as the size of this market is expected to grow from about $1.38 trillion in 2023 to $2.3 trillion in 2030.

The Trinity Group, which provides company establishment services in the Emirates, believes that luxury tourism revolves around high-end experiences, which is widely available in the Emirates, as it owns many luxury hotels and shopping centers, which attract a large percentage of tourists from multiple countries.

According to Arthur D. Little, a global consultancy, the UAE has not only built the most luxurious hotels, but has also succeeded in combining hospitality with cultural and entertainment experiences.

Research conducted by the real estate consulting group and real estate consultant Cavendish Maxwell indicated that more than 2,700 new hotel rooms were opened in Dubai in the first half of this year, 75% of which were luxury rooms. Another 10,100 rooms are scheduled to come on the market by the end of 2025.

The group believes that the hospitality sector in Dubai has achieved great prosperity, the city’s strong economy, and that increased investment in infrastructure and the focus on experience-based tourism are the main factors behind this success.

Cavendish Maxwell explained that the hospitality sector, which represents a cornerstone of economic diversification, has more potential that can be unleashed through Dubai’s ability to adapt to evolving trends, maintain its reputation and its unparalleled ability to diversify, innovate, and benefit from… of emerging opportunities.

For its part, the “Elite” luxury travel agency believes that Dubai is considered a luxurious tourist destination for many reasons, including that it contains landmarks that it described as being out of this world, and enjoys inspiring experiences in the city and the desert, in addition to the availability of high-level services and luxurious accommodations. Extremely.

The UAE was the recipient of many World Travel Awards in the Middle East 2024, many of which embodied its value and position in the world of luxury tourism, as Abu Dhabi received the award for the leading destination for business travel in the Middle East, and Dubai was named the leading destination in the Middle East, and topped many awards. Emirates hotels in the field of luxury hospitality and resorts, and Emirates Airlines also won the Leading Airline in the Middle East (First Class) award.

The tourism sector contributed to the country’s economy in 2023 by 11.7% of the gross domestic product, amounting to 220 billion dirhams, while its contributions are expected to rise by 12% of the gross domestic product, equivalent to 236 billion dirhams during the current year, according to the Travel Council. and global tourism.

Travel and tourism sector

The World Travel and Tourism Council expects that the travel and tourism sector will contribute to the UAE’s gross domestic product by about 275.2 billion dirhams by 2034, thanks to the strong infrastructure provided by the country in tourism and airports, and the diversity of tourist and cultural destinations, in addition to the beaches, mountains, and destinations it offers to tourists. Entertainment and cultural, which gives them many options in one place.