UAE’s tourism sector boosts foreign, domestic investments

 Tourism as a Key Driver of Economic Growth

The UAE’s tourism industry is set to attract significant foreign and domestic investment, according to Dr. Charbel Bassil, Associate Professor of Economics at UAE University. He highlights that visitor spending fuels economic expansion, leading to higher investments and strengthened financial reserves.

Inbound Tourism & Economic Impact

• The FIFA World Cup 2022 drew over 2 million tourists, generating QR26.58bn ($7.3bn) in foreign tourism receipts.
• UAE’s relaxed visa policies for 100+ countries have contributed to a surge in arrivals.
• Hosting global and regional sports events will sustain tourism momentum in 2023 and beyond.
• Tourism-led growth will boost UAE’s balance of payments and enhance international reserves.

Diversification & Competitive Advantage

Despite strong prospects, Dr. Bassil stresses the need to differentiate UAE’s tourism offerings in response to regional competition. He suggests:

• Medical tourism to attract international patients.
• Gastronomy tourism to highlight UAE’s diverse culinary experiences.
• Educational tourism to create learning opportunities for global visitors.

UAE’s Future Tourism Outlook

• Officials project over six million visitors annually.
• The tourism sector is expected to contribute 7% to GDP growth within the next seven years.

BM Events: Elevating UAE’s Hospitality & Event Experiences

The rise in tourism and investment presents exciting opportunities for the hospitality sector. BM Events, a leading provider of event staffing solutions, plays a key role in:

• Ensuring seamless hospitality experiences for tourists.
• Providing skilled event staff to cater to growing tourism demands.
• Enhancing visitor engagement through world-class service.

As UAE strengthens its global tourism position, BM Events remains a trusted partner in delivering excellence.