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Thu 24 Nov 2016 11:03 AM

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UAE focuses on tourism to boost post-oil economy, says minister

Gulf state achieved 8.7 percent GDP growth worth AED134b ($36.5b) during 2015

UAE focuses on tourism to boost post-oil economy, says minister
Sultan Saeed Al Mansoori/ Sultan Saeed Al Mansouri

The tourism sector is one of the UAE’s main pillars to prop the post-oil economy, according to the country’s Minister of Economy Sultan bin Saeed Al Mansouri.

The UAE developed its economic system based on diversity, innovation and sustainability and has achieved a 8.7 percent GDP growth worth AED134b ($36.5b) during 2015, Al Mansouri told Emirates News Agency during the run-up to the Innovation and Tourism Transformation Forum 2016 taking place in Al Habtoor City.

“Estimates indicate that the tourism sector will contribute 5.4 percent annually over the next 10 years to reach AED236.8 billion by year 2026. The UAE has rich cultural heritage, natural diversity and the developed infrastructure that make it a strong competitor on the world tourism map,” he said.

Al Mansouri added the state will need to employ potential human capital in order to develop the role of tourism in the economy.

“Our vision for the tourism sector is to make the UAE one of the most important tourist destinations in the world. This ambitious vision is aimed at promoting the tourism sector to be one of the most important pillars of the post-oil economy,” he added.