(MENAFN- Khaleej Times) Demand for hotels is outstripping supply in Dubai as the emirate attracts tourists from worldwide, said Issam Kazim, CEO of Dubai Corporation for tourism and Commerce Marketing (DCTCM).
“We had seen constant growth year-on-year until 2019, but then things globally slowed down, and we were impacted as well. But in 2023, we managed to pick up where we left off, and we closed off with 17.15 million tourists, which was a record number for us.
"What's even more exciting is that with that growth, we've also seen a growth in the number of hotel rooms, occupancy and average daily rates, which means that the demand for Dubai is again outstripping the supply which means that for us, there is always an opportunity from an investment perspective to create more attractions to create more hotel rooms,” Kazim said during the opening remarks at the Arabian Travel Market 2024 in Dubai on Monday.
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He added that Dubai is famous for numerous brands of hotels but now holiday homes also becoming popular, which are also seeing huge growth in terms of their occupancy as well.
“The other thing that we want to also focus on is the diversified approach. We've always talked about Dubai being home to different nationalities. We're also attracting tourists from all across the globe as well. So for us, the opportunities exist from a point-to-point perspective where we've seen great growth, but we also constantly are leveraging the connectivity and the role that Dubai plays in connecting the rest of the world through the Dubai International Airport,” he added in a brief speech during at the ATM.
25% repeat visitors
He added Dubai International is the world's busiest international airport which shows that there is a transit opportunity, and it creates repeat visitors. He added that around 25 per cent of visitors are repeat visitors who come back to Dubai again and again within a period of 12 months.
“This solidifies Dubai's position when it comes to the quality of service and things that people look forward to in terms of repeat visitation as well. So all of that helps us tremendously.”
He added that they are also looking at opportunities from major business travellers, looking at connecting people via Dubai.
“Let us not forget the role of the logistics hub that Dubai plays for the world as well. All of this works great with the strategy that we have in place of attracting more and more visitors into the city, attracting more and more new residents into the city as well. We've seen a growth within that. And we've also attracted a lot more businesses to set up in Dubai, whether they're startups through regional and global hubs, as well,” he added.
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