Sheikh Mohammed announces UAE strategy to attract AED100 billion in tourism investment – News

The strategy aims to further enhance the country’s reputation as a major tourist destination

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The UAE’s vice president on Friday launched one of the country’s “biggest projects” over the next nine years: a tourism masterplan aimed at attracting AED100 billion in new investment and 40 million hotel guests by 2031.

The UAE’s Tourism Strategy 2031 – a Top 50 project – is sure to strengthen the country’s position as one of the best tourist destinations in the world.

Announcing the approval of the strategy, His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, said: “Tourism is key to diversifying the economy and enhancing the UAE’s global competitiveness.”

The goal, he said, is to “improve our competitiveness by attracting Dh100 billion as additional tourism investment and hosting 40 million hotel guests by 2031”.

Through 25 initiatives and development policies, the strategy aims to increase the contribution of tourism to GDP to AED450 billion – an increase of AED27 billion annually.

Currently, the UAE is one of the top ten tourist destinations in the world, with 22 million passengers flying into the country’s airports in the first quarter of this year alone.

In order to provide an exceptional experience for visitors from all over the world, the new master plan aims to enhance the country’s unified tourism identity and support its well-established ecosystem.

Under its main direction, tourism products will be developed and diversified, and Emiratis will be encouraged to contribute to the industry, according to a statement from the UAE government.

The plan is expected to help encourage investment in various related sectors such as tourism, aviation and hospitality, and create new investment opportunities.

For tourists, a variety of unique destinations and services will be launched in the coming years. According to the government’s statement, the vision is to create not only an attractive tourism environment, but also a safe and secure tourism environment.

The National Tourism Strategy 2031 is a collaborative effort between the Ministry of Economy and various local and federal entities and agencies including the Ministry of Foreign Affairs and International Cooperation; Federal Identity, Citizenship, Customs and Port Security Authority; UAE Central Bank; Civil Aviation General Directorate; Emirates Airline; World Tourism Organization; various international companies; and the Federal Centre for Competitiveness and Statistics.

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