Hospitality Market - UAE
Market Statistics
Base Year: 2023
Historical Years: 2018-2023
Forecast Years: 2024-2032
Market Size in 2023: USD 22.7 Billion
Market Size in 2032: USD 36.4 Billion
Market Growth Rate (CAGR) 2024-2032: 5.40%
According to IMARC Group's report titled "UAE Hospitality Market Report and Forecast 2024-2032," the market reached USD 22.7 billion in 2023. Looking forward, IMARC Group expects the market to reach USD 36.4 billion by 2032, exhibiting a growth rate (CAGR) of 5.40% during 2024-2032. The market is rapidly expanding, driven by increasing tourism, luxury hotel investments, and world-class events like Expo 2020.
UAE Hospitality Market Trends and Drivers:
- Experiencing strong growth driven by a booming tourism industry, government support, and reputation as a global destination for business and leisure.
- Boasts state-of-the-art infrastructure, luxury accommodations, and hosts major events like Expo 2020 and Formula 1 Grand Prix.
- Attracts a steady influx of visitors, bolstered by initiatives like UAE Vision 2021 aimed at diversifying the economy beyond oil.
- Increased investments in hotels, resorts, and entertainment facilities elevate UAE’s position as a top travel destination.
- Growing focus on sustainable, eco-friendly hotels and resorts, with green building practices and energy-efficient technologies.
- Adoption of technological innovations, including contactless check-ins, AI-powered services, and personalized guest experiences, improving customer satisfaction and efficiency.
- Continued dominance of the luxury segment, but rising interest in mid-range hotels catering to budget-conscious travelers.
- Resurgence of domestic tourism post-COVID-19, shifting focus to tailored experiences for local visitors.
- Strong government backing and positive economic outlook expected to drive continued growth in the hospitality market.
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UAE Hospitality Industry Segmentation:
The report has segmented the market into the following categories:
Type Insights:
- Chain Hotels
- Independent Hotels
Segment Insights:
- Service Apartments
- Budget and Economy Hotels
- Mid and Upper Mid-scale Hotels
- Luxury Hotels
Regional Insights:
- Dubai
- Abu Dhabi
- Sharjah
- Others
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Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players.
Key highlights of the Report:
- Market Performance (2018-2023)
- Market Outlook (2024-2032)
- COVID-19 Impact on the Market
- Porter’s Five Forces Analysis
- Strategic Recommendations
- Historical, Current and Future Market Trends
- Market Drivers and Success Factors
- SWOT Analysis
- Structure of the Market
- Value Chain Analysis
- Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
About Us:
IMARC Group is a global management consulting firm that helps the world’s most ambitious changemakers to create a lasting impact. The company provide a comprehensive suite of market entry and expansion services. IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.
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