UAE expect to host 8.92 million visitors by 2023
As per a recent report released by Arabian Travel Market (ATM), the UAE’s inbound tourist footfall will touch 8.92 million by 2023, from its major 5 source markets.
The upcoming Expo 2020 and its legacy, District 2020, are expected to have a positive impact on inbound arrivals to the UAE from the country’s top five source markets between 2018 and 2023, according to the data.
The UAE’s top source market rankings are expected to remain mostly unchanged post-Expo 2020; however, the latest research from Colliers International, in partnership with ATM, reveals the Russian and Chinese source markets will show above average annual growth rates for inbound passenger arrivals.
As per the reports, the number of Indian visitors travelling to the UAE will increase at a Compound Annual Growth Rate (CAGR) of 7 per cent to 3.01 million in 2023, while arrivals from Saudi Arabia and the UK will witness an increase of 2 per cent and 1 per cent to 1.76 million and 1.28 million respectively over the same period.
“The number of Russian tourists travelling to the UAE will increase at a CAGR of 12 per to 1.6 million in 2023, while the number of Chinese tourists visiting the UAE will increase at a CAGR of 8 per cent to 1.27 million over the same period, according to the data,” said ME Danielle, Curtis Arabian Travel Market exhibition director
According to some analysts, China’s middle-class will increase to 338 million households by 2020, a 13 per cent increase in just five years. Moreover, by 2030 35 per cent of China’s 1.4 billion population will have USD10,000 of annual disposable income, up 10 per cent from 2018. Therefore, the growth potential for both markets is significant.