Abu Dhabi Hotel and Travel Industry boom surges Q4 revenues to touchdown at $490 Million
Yes. It’s true. Though quite unbelievable, the top ten global favorite tourist destination spots, Abu Dhabi at the Q4 Year ending 2018 saw a massive surge as the total amount of the tourists and hotel occupants rose to a record 1.50 million from 1.30 million in Q3 quarter.
Riding on such positive aspect, the Gulf world’s second largest region saw the fourth quarter hotel and travel industry revenues a staggering touchdown of 73 percent surge to AED 1.8 billion ($490 million). According to a report by statistics center Abu Dhabi (SCAD), the most significant factors for this massive success of Abu Dhabi are as attributed: -
- Robust, unique tourism related infrastructural beauties, high rise buildings with attractive recreational facilities and cost-effective rates thanks to government policies saw a huge surge of 25 percentage tourist inflow than as observed in the third quarter.
- Fourth Quarter also the most favorable on season time and thus the hotel rooms were upto brim with tourist flocking globally especially from Asian countries like India, China, Japan, Afghanistan, etc as well from countries like Canada, Italy, Australia, etc.
- The overall hotel bookings in the fourth quarter saw a surge of nearly five percent in the UAE capital to be at 32, 971 as compared to third quarters 31,506. And the number of hotel occupants rose from 1.29 million to 1.34 million as well the overall hotel pricing rose from 66 percent to 78 percentage.
- UAE’s cruise ship tourism sector saw a whopping 3,50,000 global visitors in Abu Dhabi during 2018.
- Emaar group of hotels and refurbished Jumeirah group of hotels itself contributed 20 percentage of regions economy as they posted a whopping $350 billion revenues as the total hotel visitors surged ten percentage.
- With such huge visitors, fulfilling accommodating arrangements were an arduous task. It also needed huge funding from Government and foreign direct investments. The great news was that the city came up with 180 plus new hotels with whopping funding of $1.5 billion by the government.
- It also saw a huge surge in foreign direct investments as due to the curb in global deficits of the region, a huge boom in infrastructural front, strong currency reserves, a trust of foreign as well as local investors were all kept intact.
Thus it was a golden period for Abu Dhabi as the Q4 (Fourth Quarter) Hotel-Travel industry boom stood at $490 million.