In the first half of 2024, Dubai welcomed a record number of guests – 9.31 million people.
Dubai demonstrated impressive tourism growth in the first half of 2024, attracting 9.31 million international tourists, which is 9% more than the same period in 2023.
Achievements and Prospects
This significant increase in visitor numbers reflects the strategic vision of Sheikh Mohammed bin Rashid Al Maktoum aimed at solidifying Dubai’s position as a global tourism leader. The city not only set a record in 2023 with 17.15 million tourists but also continues to strive towards new milestones in 2024.
Key Growth Factors
Vice President and Prime Minister of the UAE, Sheikh Mohammed bin Rashid Al Maktoum, underscored the importance of public-private partnerships in achieving these successes. With sustainable tourism growth, Dubai is setting new standards for global cities.
Investment Opportunities
The current time presents favorable opportunities for real estate investments in Dubai. With a growing number of tourists and steady infrastructure development, real estate investments promise high returns and growth prospects amidst stable economic growth and diverse sources of inbound tourism.
Dubai Real Estate Market
In 2024, the Dubai real estate market continues to show stable demand and price growth. The average hotel room occupancy rate was 78.7%, up 1% from the previous year. The average daily rate increased by 4% to 558 dirhams, and revenue per available room rose by 6% to 439 dirhams.
The total number of available rooms in Dubai reached 150,879 by the end of June 2024, up by 2,190 rooms compared to the previous year. This reflects growing infrastructure and contributes to attracting even more tourists and investors.
Cultural and Entertainment Scene
Dubai continues to affirm its status as a global culinary capital with the release of the third edition of the Michelin Guide Dubai, featuring 106 restaurants with high ratings.
Conclusion
Today, Dubai offers unique opportunities for real estate investment, especially given its rapid tourism infrastructure development and sustainable growth in visitor numbers. With innovative projects and new possibilities open to global investors, now is the best time to invest in real estate in Dubai.
