Dubai – Mubasher: Revenues from Dubai's tourism sector are expected to rise to around AED 25 billion ($6.81 billion) by the end of 2016, up 4.2% from AED 24 billion ($6.54 billion) in 2015 according to a report by the World Travel and Tourism Council (WTTC).
Revenues are also expected to rise by 5.7% in 2017 and reach AED 26.4 billion ($7.19 billion), the report said, adding that revenues will continue to increase at a similar annual pace till it reaches AED 31.2 billion ($8.5 billion) by 2020.
Total investments in the tourism sector in the emirate grew 2.8% in 2016 compared to 2015, when investments totalled AED 12.3 billion.
The report expects investments to increase by 6.8% in 2017 to AED 13.5 billion and continue rising at the same pace till it reaches AED 16.5 billion by 2020.
Dubai spearheads tourism investments not only in the UAE but across the GCC and region owing to the emirate's clear vision for developing the sector, the report highlighted.
