UAE has 85% of the GCC's tourism development

"Our participation in the ATM is consistent with our strategy as a property company with diversified investment portfolio including interests in tourism sector. We see this event as a unique opportunity to set a global vision for this vital sector", Yousef Fakhruddin, CEO of the Fakhruddin Properties said.

Yousef Fakhruddin, whose company is behind a quality and innovative projects in Dubai, including the Dubai Sports City situated Dhs700m Coral International, a part of Coral International chain of hotels, resorts, and spas across Middle East, has the ambition to be involved, added: "Dubai is making a giant stride forward in boosting the tourism industry with the aim to create a sustainable economic growth that goes behind the current property boom. This is a visionary approach as recent reports revealed that tourism revenues make up nearly 10 percent of GNP in a number of countries, while it absorbs 8% of the workforce. Dubai look behind the property boom, and is planning for a sustainable growth".

According to recent studies, tourism sector has emerged as a top investment priority for the GCC countries with about Dhs1 trillion and 400 million allocated to develop tourism infrastructure over the coming decade.

The UAE is the dominant player in the region's tourism development with an 85% share of the total value of announced projects.

The UAE has the region's largest number of hotels under development, with 253 hotels, followed by Qatar, the KSA and Egypt, respectively. Other statistics estimated Dhs200bn of tourism revenue in the UAE after a period of 10 years.

The UAE has suffered a drop in its ranking, falling to 40 this year from 18 in 2007, according to the Travel & Tourism Competitiveness Index.

This decline was rejected by local and international experts as the tourist influx into the emirate and the development of tourism facilities are both growing rapidly. Hotel occupancy rates have also risen significantly to 90 percent in Abu Dhabi and Dubai, and to 80 percent in Sharjah.