RE­PORT SAYS DUBAI STILL LEADS THE WAY IN HOS­PI­TAL­ITY IN THE MID­DLE EAST

HotelNews Middle East - - Regional News -

A new re­port has re­vealed there is ev­ery rea­son to be pos­i­tive about the fu­ture of hos­pi­tal­ity in Dubai.

The re­port, which has been re­leased by real es­tate con­sul­tancy Knight Frank, com­pared Dubai against a num­ber of lead­ing cities across the world – New York, Lon­don, Paris, Sin­ga­pore, Hong Kong, Shang­hai and Syd­ney – across the key across the four key sec­tors of man­u­fac­tur­ing and lo­gis­tics, busi­ness and fi­nan­cial ser­vices and tourism.

Ali Man­zoor, as­so­ciate part­ner, head of hos­pi­tal­ity com­mented on the Dubai hos­pi­tal­ity mar­ket’s re­cent per­for­mance and out­look.

“De­spite fac­ing chal­leng­ing mar­ket con­di­tions, Dubai’s hos­pi­tal­ity sec­tor re­mains amongst the top per­form­ers in the Mid­dle East, un­der­pinned by the Emi­rate’s po­si­tion­ing as a re­gional com­merce hub and the de­vel­op­ment of world class de­mand gen­er­a­tors,” he said.

“Visi­ta­tion has for the most part con­tin­ued to grow from key source mar­kets, with In­dia and China no­table stand­outs, and Rus­sian visi­ta­tion con­tin­u­ing its pos­i­tive mo­men­tum from the pre­vi­ous year. We re­main op­ti­mistic about the fu­ture out­look of the sec­tor, and en­vis­age that the mar­ket will once again sta­bilise once the rate cor­rec­tion has run its course.”

The re­port reads that for Dubai the tourism mar­ket has his­tor­i­cally been a strate­gi­cally im­por­tant sec­tor. In 2017 it is es­ti­mated that the sec­tor con­trib­uted over AED150BN to GDP (4.6% of GDP), and pro­vided al­most 570,000 jobs (4.8% of to­tal em­ploy­ment).

The sec­tor’s di­rect con­tri­bu­tion to GDP has in­creased by 138% in the 10 years to 2017 with em­ploy­ment in the sec­tor grow­ing by 119% over the same pe­riod.

This trend has been driven by the in­creas­ing level of con­nec­tiv­ity on of­fer from DXB. DXB, the world’s largest air­port by in­ter­na­tional traf­fic, recorded 83.7 mil­lion pas­sen­gers in 2016, up 26% from 2014. In 2017 this has in­creased fur­ther to over 88 mil­lion pas­sen­gers.

Whilst Dubai’s ap­peal is broad, the Emi­rate has es­tab­lished it­self as one of the most lux­u­ri­ous des­ti­na­tions in the world. Cur­rently it is home to 104 five star-ho­tels as per Dubai Cor­po­ra­tion of Tourism & Com­merce Mar­ket­ing and fore­casts in­di­cate that there are 53 ho­tels five-star ho­tels in plan­ning or con­struc­tion with open­ing dates be­fore 2020.

In ad­di­tion to this, Dubai’s av­er­age spend per overnight vis­i­tor is es­ti­mated to be over $US2, 000 in 2017, the high­est amongst our global hub cities.

Delv­ing deeper into Dubai’s ho­tel sec­tor, the to­tal num­ber of ho­tel keys per res­i­dent is high­est amongst our global hub cities at 29.9 per 1,000 in Dubai. Al­though this is not a sur­prise given the dis­par­ity in pop­u­la­tions be­tween Dubai and these cities, what is sur­pris­ing is the speed at which the num­ber of keys has grown, up 150% in the 10 years to 2017.

KEY FIND­INGS:

• Dubai In­ter­na­tional Air­port (DXB), the world’s largest air­port by in­ter­na­tional traf­fic, recorded 83.7 mil­lion pas­sen­gers in 2016, up 26% from 2014. In 2017 this has in­creased fur­ther to over 88 mil­lion pas­sen­gers. • In the hos­pi­tal­ity sec­tor, the to­tal num­ber of ho­tel keys per res­i­dent is high­est at 29.9 per 1,000 peo­ple in Dubai, com­pared to our se­lected hub cities. Paris is the next high­est with 17.6 keys per 1,000 peo­ple. • Cur­rently Dubai is home to 104 five star-ho­tels (Dubai Cor­po­ra­tion of Tourism & Com­merce Mar­ket­ing). • STR global in­di­cates there are 53 ho­tels five-star ho­tels in plan­ning or con­struc­tion with open­ing dates be­fore 2020 • Dubai’s av­er­age spend per overnight vis­i­tor is es­ti­mated to be over $US2, 000 in 2017, the high­est amongst our global hub cities.

Newspapers in English

Newspapers from UAE

© PressReader. All rights reserved.