RIYADH: According to new data from the Dubai Department of Economy and Tourism, the city saw a 7.4% growth in foreign visitors from January to August 2024, totaling 11.93 million. According to the survey, over half of all foreign tourists come from Western Europe, South Asia, and the Gulf Cooperation Council, which continue to be the emirate’s top three source markets. Between January and September, the average daily rate and revenue per available room increased by 2.5 and 2.7 percent, respectively, year over year, reflecting Dubai’s robust market performance.
In the meantime, the most recent JLL research states that Dubai’s hotel inventory increased by 240 rooms during the third quarter, reaching a total of over 155,400 rooms. Additionally, by the end of 2024, 4,800 more rooms—mostly in the four- and five-star categories—are expected to be added, according to the research.
Large-scale initiatives like Dubai Islands, The Island by Wasl, and Marsa Al-Arab are anticipated to raise the bar for upscale beachfront real estate and spur additional expansion in the hospitality industry.
But the JLL report also pointed out a new trend in the luxury hotel market: price sensitivity. High-end tourists’ purchasing habits have changed as a result of increased competition from other local and international travel destinations.
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