Dubai has been defying the negative trends that marred the global tourism industry and economy due to its ambition to excel and make a name for itself on the world map.
The Recipe for Dubai’s Success?
Its recipe for success: visionary leadership, bold and innovative approach of conducting business, timely execution of giant projects, unfaltering commitment to quality and a firm resolve to march ahead of other established and emerging destinations.
The result is its mind-boggling growth levels in almost all economic sectors and a promising future.
Its aggressive growth and promotional agenda is the fruit of an inspirational public-private sector partnership and government’s unwavering determination to be a successful model destination.
His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of United Arab Emirates and Ruler of Dubai, cogently sums up the unwavering spirit. “Most people talk, we do things. They plan, we achieve. They hesitate, we move ahead. We are living proof that when human beings have the courage and commitment to transform a dream into reality, there is nothing that can stop them. Dubai is a living example of that. We have people from all over the world who are part of a success story in all sectors of our economy & society.”
“We are living proof that when human beings have the courage and commitment to transform a dream into reality, there is nothing that can stop them. Dubai is a living example of that.”
Dubai‘s Growth in Travel and Tourism Market
The fast-expanding tourism industry remained a prime mover of the economy, enhancing its enormous contribution to the GDP and attracting huge foreign investments.
For the first time in its history, Dubai played host to over seven million hotel guests last year.
No small achievement for a destination that practically emerged on the world map in 1997 after the Dubai Department of Tourism and Commerce Marketing (DTCM) was established, replacing a promotion board that existed for nine years.
The DTCM Director General, Khalid A bin Sulayem, says: “Tourism has been shaping Dubai’s economy quite well and continues to contribute enormously in giving new growth directions. The emirate is working towards matching the expectations of the world. We are moving ahead with confidence and the world keeps looking at us with admiration and amazement. Dubai’s success is both inspiring and promising. As far as we could see, the future appears bright.”
Dubai’s fast-expanding portfolio of hotels and hotel apartments registered a surge of 25.8 % at 50,306 units in 2007 and is expected to rise 3.4 % by 2010 at 63,317 units and jump to 48.2 % by 2016 when the total units will cross 93,867. With 82 % occupancy rate, the Hotel and Hotel apartments generated revenue of AED 13.262 million in 2007.
Dubai’s iconic international airport received over 34 million passengers in 2007 even as the fast-expanding, passenger-friendly facility – billed as the world’s second most-favorite international airport – gets worldwide recognition. These facts are instrumental in multiplying the number of tourists over the years.
The accumulated annual growth of Dubai’s economy in the last decade comes to 10 per cent, the highest rate of growth in the world. The stellar performance reflects the success of Dubai’s economic diversification policy and the vitality of its economy.