The tourism sector in the UAE has continued its steady growth, with hotels generating AED33.5 billion in revenue during the first nine months of 2024, a four per cent increase compared to the same period in 2023.
The average hotel occupancy rate across the seven emirates rose to 77.8 per cent, one of the highest globally. Hotel nights reached approximately 75.5 million from January to September 2024, marking an eight percent increase year-on-year.
The figures were announced during the UAE's participation in the 27th session of the Arab Ministerial Council for Tourism, held at the headquarters of the League of Arab States General Secretariat in Cairo.
The UAE delegation reaffirmed the country's commitment to advancing joint Arab action in the tourism sector, emphasising its role as a vital economic driver and a key contributor to sustainable development in the Arab region.
The delegation also highlighted that joint Arab tourism efforts extend beyond economic benefits, serving as a platform to foster cultural relations and preserve Arab heritage.
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.