(MENAFN- Bangladesh Monitor) Dhaka: Expo 2020 and its legacy, District 2020, are expected to have a positive long-term influence on the growth of inbound arrivals to the UAE from the country's top five source markets between 2018 and 2023, according to data published ahead of Arabian Travel Market (ATM), which will take place at Dubai World Trade Centre from April 28 to May 1, 2019.
Looking at the country's top three source markets, the number of Indian visitors travelling to the UAE will increase at a CAGR of 7pc to 3.01 million in 2023, while arrivals from Saudi Arabia and the UK will witness an increase of 2pc and 1pc to 1.76 million and 1.28 million respectively over the same period.
While the UAE's top source market rankings are expected to remain mostly unchanged post-Expo 2020 – 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.
Danielle Curtis, Exhibition Director ME, Arabian Travel Market, said, 'The number of Russian tourists travelling to the UAE will increase at a Compound Annual Growth Rate (CAGR) of 12pc to 1.6 million in 2023, while the number of Chinese tourists visiting the UAE will increase at a CAGR of 8pc to 1.27 million over the same period, according to the data.'
Curtis added, 'Taking a look at the other key drivers, besides Expo 2020, Russian visitors to the UAE have grown in recent years, due to the introduction of additional and direct airline routes. Russian visitors also now benefit from relaxed UAE visa regulations and rising oil prices are helping to strengthen the Russian rouble, making the UAE more affordable.'
'Regarding Chinese visitors, according to some analysts China's middle-class will swell to 338 million households by 2020, a 13% increase in just five years. Moreover, by 2030, 35pc of China's 1.4 billion population will have $10,000 of annual disposable income, up 10pc from 2018. Therefore, the growth potential for both markets is significant,' Curtis mentioned.
With 20 million annual visitors expected to visit Dubai by 2020, plus an additional five million between October 2020 and April 2021 – 70pc of which will come from outside the UAE – the overall hospitality supply in the emirate is expected to increase by 39pc from 59,561 keys in 2017 to 82,994in 2021 to meet this demand.
Meanwhile in neighbouring emirate Abu Dhabi, the number of rooms across three, four and five-star properties is forecast to grow 13pc from 21,782 in 2017 to 24,565 in 2021.
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