UAE in 6th Place in the International Tourism Earnings with $51.9 Billion in Receipts
UAE has become the sixth highest earning country for international tourism spending, China is world’s biggest spender
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The United Arab Emirates (UAE) has become the sixth-largest recipient of international tourist spending, with $51.9 billion, as revealed by the UN Tourism’s May 2024 World Tourism Barometer, after being in the 13th place before.
According to the UN’s tourism organization, the top earners from international tourism in 2023 were the United States ($176bn), Spain ($92bn), the United Kingdom ($74bn), France ($69bn), and Italy ($56bn), positioning the UAE right after these countries. Other countries that earned significantly from tourism in 2023 include Türkiye, Australia, Canada, Japan, Germany, Saudi Arabia, Macao (China), India, and Mexico, rounding out the top 15 earners.
In terms of spending on international tourism, the UK rose from fifth to third place, Türkiye climbed from 12th to 7th, Canada advanced from 15th to 9th, Saudi Arabia from 27th to 12th, and Mexico from 17th to 15th.
Other notable advances include Croatia moving from 32nd to 25th, Morocco from 41st to 31st, and the Dominican Republic from 43rd to 34th. Qatar and Colombia also made significant strides in the rankings.
China has reclaimed its status as the foremost spender in international tourism in 2023, with expenditures totaling $196.5 billion, surpassing other major spenders such as the United States ($150bn) and Germany ($112bn).
This reflects the broader recovery across the Asia-Pacific region following the pandemic’s impact. In contrast, the top global destinations by visitor numbers were France, which topped the list with 100 million arrivals, followed by Spain, the United States, Italy, and Türkiye.
Further details from the World Tourism Barometer indicate that international tourist arrivals in 2023 regained 89% of their pre-pandemic levels and 97% in the first quarter of 2024.
UN Tourism anticipates that 2024 will see a complete recovery in international tourism, with arrivals expected to exceed 2019 figures by 2%, supported by strong demand, improved air connectivity, and continued recovery in China and other significant markets in Asia.
Lastly, the total export revenues from international tourism reached approximately $1.7 trillion in 2023, nearing pre-pandemic values, while direct GDP from tourism also regained its pre-pandemic stature, totaling an estimated $3.3 trillion, or about 3% of the global GDP.
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Employment grew for the 16th consecutive month as companies expanded.
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According to a recent PMI report, Qatar experienced its fastest non-energy sector growth in almost two years in June, driven by surges in both existing and new business activities.
The Purchasing Managers’ Index (PMI) headline figure for Qatar reached 55.9 in June, up from 53.6 in May, with anything above 50.0 indicating growth in business activity. Employment also grew for the 16th month in a row, and the country’s 12-month outlook remained robust.
The inflationary pressures were muted, with input prices rising only slightly since May, while prices charged for goods and services fell, according to the Qatar Financial Centre (QFC) report.
This headline figure marked the strongest improvement in business conditions in the non-energy private sector since July 2022 and was above the long-term trend.
The report noted that new incoming work expanded at the fastest rate in 13 months, with significant growth in manufacturing and construction and sharp growth in other sectors. Despite the rising demand for goods and services, companies managed to further reduce the volume of outstanding work in June.
Companies attributed positive forecasts to new branch openings, acquiring new customers, and marketing campaigns. Prices for goods and services fell for the sixth time in the past eight months as firms offered discounts to boost competitiveness and attract new customers.
Qatari financial services companies also recorded further strengthening in growth, with the Financial Services Business Activity and New Business Indexes reaching 13- and nine-month highs of 61.1 and 59.2, respectively. These levels were above the long-term trend since 2017.
Yousuf Mohamed Al-Jaida, QFC CEO, said the June PMI index was higher than in all pre-pandemic months except for October 2017, which was 56.3. “Growth has now accelerated five times in the first half of 2024 as the non-energy economy has rebounded from a moderation in the second half of 2023,” he said.
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