Tourism boom in the UAE: GDP is growing and real estate is becoming even more attractive

The UAE is experiencing a real tourism boom. According to 2023 data, the tourism sector's contribution to the country's GDP grew by an impressive 31% to reach $59.8 billion.

This represents 11.7% of the country's entire economy, and forecasts for 2024 are even more optimistic - the share of tourism will reach 12% with an indicator of $64.2 billion.

So what does this mean for investors?

Firstly, the UAE is actively investing in the development of tourism infrastructure: new hotels, entertainment complexes, parks and museums are being built.

Secondly, the country is pursuing an active policy to attract tourists: new visa programs are being introduced, transport infrastructure is being developed, and large-scale events are being organized, such as exhibitions, sports competitions and festivals.

Third, the UAE offers a unique tourism experience, from luxury beach resorts to cutting-edge cities, from ancient cultural sites to breathtaking desert landscapes.

And finally, the UAE is a safe and stable state: this attracts tourists who value comfort and tranquility while traveling.

So what does this mean for investors?

Increased demand for tourism services in the UAE means increased demand for accommodation, especially short-term rentals. This, in turn, leads to an increase in property values.

If you want to become the owner of profitable real estate in the UAE, now is the right time!

Mercury Group, UAE real estate experts, can help you: