By Staff writer
Minister of Economy says tourism sector accounted for nearly 9% of total gross domestic product last year
The UAE's Minister of Economy has revealed that tourism contributed about AED134 billion ($36.4 billion) to the country's gross domestic product (GDP) last year.
In comments published by news agency WAM, Sultan bin Saeed Al Mansouri said the local tourism industry will be even more reliable in the post-oil economy.
He said the sector accounted for 8.7 percent of GDP to grow by 4.4 percent this year, according to data issued by the World Travel and Tourism Council.
He added that this contribution will rise at a rate of 5.4 percent annually over the next 10 years to reach to AED236.8 billion by 2026.
Al Mansouri said that the tourism sector is an important part of the national economy and a core pillar of economic diversification policy of the state.
Commenting on enhancing the role of tourism sector at the state level, he said: "Practically tourism sector is already well-established aspect of the national economy, with plans to further develop and enhance its role in the coming period.
"We will work in coordination and cooperation with various relevant authorities at the local and federal level to provide new ideas and innovative initiatives to strengthen the role of the tourism sector in the economic work system in the state."