Hotel occupancy rates in Dubai have rebounded from below 50 percent to 80 percent this year, a government official has said.
Mohammed Shael Al Saadi, chief executive officer, Business Registration and Licensing of Dubai’s Department of Economic Development (DED) said the figures showed the emirate’s recovery from the global downturn.
“Dubai is regaining its vitality as investment and tourism destination nowadays. Hotel occupancy rate has bounced back to 80 percent or more after plunging to below 50 percent earlier this year,” he told delegates at an economic forum.
He said in comments published by news agency WAM that the success of budget carrier flydubai had resulted in thousands of tourists from India, Egypt, Syria, Lebanon and Turkey coming to Dubai.
He claimed Dubai was no longer a city of luxurious hotels for high-end tourists only.
Even seven star hotels in Dubai are now affordable for ordinary tourists, he added.
The economic forum in Dubai also heard from Chung Byung-chol, vice chairman of the Federation of Korean Industries (FKI).
He said favourable economic fundamentals were returning to Dubai thanks to fresh growth potential offered by Dubai government.
He also said that more Korean business interests were considering teaming up with UAE business partners for new projects in construction, high tech and knowledge-based industries – describing Dubai as the “preferred destination for Korean investors”.
FKI is the most influential economic organisation in Korea. Currently there are 52 Korean companies operating in Dubai, the forum heard.
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