Dubai: UAE residents and citizens are expected to spend more than Dh140 billion this year on the outbound travel, a new report has revealed.
While UAE’s famous for inbound travel and tourism, the country also ranked in top 15 in the world in terms of outbound travel.
According to the report, the UAE's inbound and outbound travel and tourism have grown exceptionally in the post-pandemic period as countries reopened their borders for travel and tourism.
UAE travellers will spend more than those from Taiwan (China), Switzerland, Hong Kong, Indonesia, and Brazil.
The latest figures released by the World Travel and Tourism Council revealed that outbound spending by UAE travellers is projected to grow 21.6 per cent to $38.31 billion (Dh140.6 billion) this year compared to $31.51 billion (Dh115.64 billion) in 2023.
In 2019, UAE travellers' outbound travel and tourism spending was $28.7 billion.
Ranked 15th, UAE residents will be the largest spenders among Arab and Middle Eastern countries this year.
UAE travellers will spend more than those from Taiwan (China), Switzerland, Hong Kong, Indonesia, and Brazil.
Staycations
Having seen a massive opportunity in this segment, the UAE launched a domestic tourism strategy in 2023 to capitalise on residents' growing outbound spending and focus more on staycations, especially during the summer. The move aims to help expand the local economy and create a large number of jobs in the travel and tourism industry.
According to the World Travel and Tourism Council's 2024 Economic Impact Trends Report released on Wednesday, international visitors' spending in UAE is projected to grow 9.4 per cent to $52.2 billion (Dh191.57 billion) in 2024 compared to $47.7 billion (Dh175 billion) last year. The UAE will be the 10th largest recipient globally and second in the region after Saudi Arabia (ranked 6th) in 2024.
Tourism bounced back
Driven by Dubai, inbound tourism bounced back strongly in the UAE after the pandemic. In fact, the UAE was one of the first countries where the travel and tourism sector recovered to the pre-pandemic level.
"As we look forward to a record-breaking 2024, it's clear that travel and tourism are not only back on track but also set to achieve unprecedented growth. We will continue to prioritise sustainability and inclusivity, ensuring that this growth benefits everyone and protects our planet for future generations. The sector's resilience and potential for innovation continue to drive us forward," said Julia Simpson, president and CEO of WTTC.
Employment
The Middle East's travel and tourism sector expanded by 25.3 per cent in 2023, bringing the sector's economic contribution back to its 2019 level. This amounted to $460 billion, or 6.7 per cent of the region's economy. Similarly, employment supported by the sector increased by 11.8 per cent to reach 7.7 million jobs. This represents a growth of 3.3 per cent over the 2019 level.
Saudi Arabia tourism
Saudi Arabia, representing around a quarter of the region's sector, has quickly recovered. Its sector's contribution to national GDP in 2023 was 29.1 per cent above the 2019 level. Similarly, the UAE's travel sector – the third largest in the region – experienced robust growth, with its contribution to GDP increasing by 14.3 per cent over the 2019 level.
US on top of list
Globally, the 2024 Economic Impact Trends Report revealed the US as the world's most influential travel and tourism market, contributing a record-breaking $2.36 trillion to the nation's economy last year.
The latest report from the global tourism body revealed China as the world's second most powerful market, with a GDP contribution of $1.3 trillion in 2023, underscoring its impressive rebound despite the late reopening of its borders.
Germany secured the third spot with a $487.6 billion economic contribution, while Japan, which was in fifth place in 2022, jumped to fourth position, contributing $297 billion. The United Kingdom is among the top five countries, contributing $295.2 billion.