Preparations for Expo 2020 across all industries, especially the construction and hospitality sectors, are in full swing in Dubai.
In planning for Expo 2020, Dubai has set a visitor goal of 20 million per year by 2020.
The travel and tourism sector in Dubai is expected to grow at 5% yearly to over $70 billion by 2027.
Researchers predict that by 2030, 25-30 million tourists will be visiting Dubai.
Are the plans on track?
2017 on track
Emirate welcomed just under 16 million visitors in 2017, according to Dubai Statistics Center as reported by Gulfnews.
This is a remarkable increase of 6.2% over 2016.
The Center reported that in 2017, about 700 hotels were available.
According to Ernst & Young, Dubai hotels maintained the highest MENA occupancy in the first quarter of 2017 at nearly 87%.
According to Mastercard’s 2017 Global Destination Cities Index, Dubai is in the 4th most visited destination by tourists globally with an increase of 7.7% projected this year.
What about now?
At present, there are over 29,000 hotel rooms in development across 95 hotels in Dubai, stated Eleven Percent, an online creative design agency.
Research Konnection, a market research company in Dubai stated that Dubai remains one of the leading performing hotel markets in the UAE regarding hotel revenue per available room (REVPAR) as the hotel occupancy rates hover around 75%.
Dubai’s Department of Tourism stated that by the end of 2019, Hotel room supply in Dubai is set to reach 132,000.
“Occupancy levels are forecast to remain at an extremely healthy 77% despite growth in capacity,” said the study.
A sample of top current and future attractions
Hotel-Cinema is the first ever hotel-cinema. It is located in Rove Downtown after its launch today in conjunction with Reel Cinemas, a chain further expanding its local footprint by innovating the hotel experience.
Mersa Al Arab is an entertainment park that recently announced it expected to be completed by 2020. It is a leisure and luxury destination comprising of two human-made islands, on both sides of Burj Al Arab, and will be built at a staggering cost of $1.7 billion.
Museum of the Future is a technological museum in Dubai scheduled to open in April 2019. Announced in March 2015, the museum will produce futuristic inventions and contribute to UAE’s mission to be a global innovation center.
The Louvre in Abu Dhabi was inaugurated last November and is an hour away from Dubai. Artworks that are showcased there include works from Leonardo da Vinci, a self-portrait of Vincent Van Gogh, and much more.
The World’s Frame is in Dubai, an architectural landmark located in Zabeel Park. It won the ThyssenKrupp Elevator Architecture Award, taking home a prize of $100,000.