Hotels in the UAE generated approximately AED 37.1 billion in revenue from January to October 2024, marking a four per cent increase compared to the same period in 2023.
The UAE's tourism sector continues "its positive trajectory, driven by the leadership's forward-thinking vision," according to Abdulla bin Touq Al Marri, Minister of Economy and Chairman of the UAE Tourism Council.
The hotel occupancy rate also saw growth, reaching nearly 78 per cent, up 2.7 per cent from the corresponding period last year.
Al Marri stated that these figures highlight the expanding growth of Emirati tourism across various sectors, supporting the National Tourism Strategy 2031. This strategy is designed to boost the tourism sector’s GDP contribution to AED 450 billion by 2031.
Chairing the first 2025 UAE Tourism Council meeting, Al Marri highlighted innovative projects and initiatives as drivers of anticipated sector growth this year.
The Council, comprising heads and directors-general of local tourism authorities, discussed the successful outcomes of the fifth edition of the 'World's Coolest Winter' campaign and its crucial role in strengthening the UAE's position as a leading global tourism destination.
The Council also explored diverse tourism initiatives and projects planned for this year to further stimulate the sector's growth.
ADNOC Distribution has reported a net profit growing by 15.6 per cent year-on-year to $579 million in the first nine months, with an EBITDA increase of 12 per cent to $885 million, its strongest performance since listing in 2017.
TECOM Group has announced a 20 per cent revenue growth reaching more than AED 2.1 billion, with a net profit exceeding AED 1.1 billion, marking an 18 per cent year-on-year increase.
The Dubai Financial Market (DFM) has announced its consolidated financial results for the nine months ending September 30, reporting a net profit before tax of AED 930.8 million, an increase of 212 per cent compared to the same period in 2024.
DMCC — Dubai’s leading international business district — has announced plans to create a new Financial Centre that will anchor trade finance, fintech innovation and digital asset solutions across its 26,000-member community.
The Central Bank of the UAE (CBUAE) has decided to cut the Base Rate applicable to the Overnight Deposit Facility (ODF) by 25 basis points, from 4.15 per cent to 3.90 per cent, effective from Thursday, October 30.
The UAE has launched an urgent humanitarian mission to assist communities affected by Hurricane Melissa, which devastated parts of Jamaica, Haiti and Cuba.
His Highness Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi, looked at ways to advance cooperation with South Korea in key sectors during talks with President Lee Jae-myung in Gyeongju.