Tourism sector contributes $44.87bln to UAE's GDP in 2018
Saturday, 09 28 2019, Category: Economy, Country: U.A.E
The tourism sector contributed AED164.7 billion, or 11.1 percent, to the UAE's GDP in 2018, according to a Ministry of Economy top official, citing data revealed by the World Travel & Tourism Council for 2019.
In statements marking the World Tourism Day observed on September 27th every year, Abdullah Al Saleh, the Ministry 's Under-Secretary for Foreign Trade Affairs, said the sector's contribution to the GDP is projected to rise by 3 percent in 2019, with an annual growth of 3.9 percent up to 2029, by which the sector is forecast to inject AED 249.5 billion, i.e. 10.7 percent of the GDP.
"The sector's contribution to the UAE labour market hit 9.6 percent in 2018, creating 611.5 thousand job opportunities, " he added, expecting the figure to grow 2.8 percent in 2019 where up to 628.6 thousand jobs are projected to be tapped by the sector.
"Tourism's contribution to the UAE job market is estimated to increase 1.8 percent annually, creating up to 753,000 job openings by 2029, which equals 10.3 percent of the total jobs in UAE, according to the WTTC 's figures," he added.
Al Saleh noted that tourism investments amounted to AED26.4 billion, or 8.1 percent of total investments in the UAE in 2018, and are expected to reach AED61.2 billion by 2029.