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Written by Rahul Singh » Updated on: November 21st, 2024
UAE Hospitality Market Overview
Base Year: 2023
Historical Years: 2018-2023
Forecast Years: 2024-2032
Market Size in 2023: USD 22.7 Billion
Market Size in 2032: USD 36.4 Billion
Market Growth Rate (CAGR) 2024-2032: 5.40%
According to IMARC Group's report titled "UAE Hospitality Market Report and Forecast 2024-2032," the market reached USD 22.7 billion in 2023. Looking forward, IMARC Group expects the market to reach USD 36.4 billion by 2032, exhibiting a growth rate (CAGR) of 5.40% during 2024-2032.
UAE Hospitality Market Trends and Drivers:
A high focus on tourism, luxury experiences, as well as diverse cultural events, are the factors responsible for the growth of the UAE hospitality market. Additionally, the market is propelling as the UAE attracts millions of visitors annually, bolstered by high-profile events like Expo 2020 in Dubai, which showcased the UAE as a leading destination for business and leisure travelers. Government initiatives, including the UAE Vision 2021 and investment in infrastructure, including airports and transport networks, have further strengthened the sector. The appeal as a luxury destination with world-class resorts, iconic architecture, and high-end retail is complemented by its reputation for safety and convenience. Besides this, the initiatives to streamline visa processes and promote year-round tourism contribute significantly to the demand for hospitality services, making the market one of the most dynamic in the region.
An increased focus on personalized experiences and technology-driven solutions is augmenting the UAE hospitality market. In addition to this, hotels and resorts are adopting advanced technologies like artificial intelligence, contactless check-ins, and mobile concierge services to enhance guest experiences and cater to health-conscious travelers. The sector is also seeing a shift toward eco-friendly practices as hotels increasingly prioritize sustainable initiatives, such as energy-efficient buildings, waste reduction, and sourcing local products. Another major trend is the growing emphasis on “bleisure” (business and leisure) travel, catering to professionals who extend their business trips to explore the UAE. As regional tourism recovers and the country continues to adapt to global travel trends, the UAE hospitality market is expected to see sustained growth in the coming years, driven by innovation, luxury offerings, and a strong commitment to sustainability.
UAE Hospitality Industry Segmentation:
The UAE hospitality market forecast offers insights into future opportunities and challenges, drawing on historical data and predictive modeling.
Type Insights:
Segment Insights:
Regional Insights:
Competitive Landscape:
The report offers an in-depth examination of the competitive landscape. It includes a thorough competitive analysis encompassing market structure, key player positioning, leading strategies for success, a competitive dashboard, and a company evaluation quadrant.
Key highlights of the Report:
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
About Us:
IMARC Group is a global management consulting firm that helps the world’s most ambitious changemakers to create a lasting impact. The company provide a comprehensive suite of market entry and expansion services. IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.
Contact Us:
IMARC Group
134 N 4th St. Brooklyn, NY 11249, USA
Email: [email protected]
Tel No:(D) +91 120 433 0800
United States: +1-631-791-1145
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