Dubai Tops in Tourist Spending Globally – MasterCard’s GDCI Report

Dubai Tops the Charts in Tourist Spending Globally

With a strong annual tourist inflow, Dubai tops the charts for daily consumer spending by tourists globally. A report published by MasterCard’s Global Destination Cities Index (GDCI) indicated that the numerous shopping centers and fashion brands were primarily influencers and led to tourist spending in Dubai.

Furthermore, the GDCI report stated that the tourists spent a cumulative amount of Dh113 billion (US$31 billion) during the year 2018, with the daily average spent estimated at Dh 2,030 (US$ 553) while the average length of stay in Dubai was 3.5 nights respectively. The city of Makkah was the second destination where tourists spent the most at Dh73.8 billion ($20.1 billion) in 2018, closely followed by Bangkok with Dh73.5 billion ($20 billion). Based on the reports from Dubai Chambers, the total consumer spending by the end of 2018 was estimated at Dh 723 billion ($ 197 billion) and is expected to reach Dh 958 billion ($ 261 billion) by 2021 at a growth rate of 7.5 percent.

Likewise, for the fifth year running, Dubai continued to maintain the fourth position for the most visited cities in the world behind Paris (3^rd), London (2^nd) and Bangkok (1^st). In 2018, Dubai hosted nearly 16 million visitors. In addition, Dubai welcomed 8.36 million international visitors in the first half of 2019 with a 3 percent growth compared to the same period for 2018.

According to the Chief Commercial Officer for EXPO 2020 – Sanjive Khosla, the visitor numbers are set to increase even further next year the government expects World EXPO to create both short and long-term benefits for Dubai’s tourism industry while enhancing its reputation as a diverse global meeting destination.

As a result of government initiatives, Dubai’s tourism sector is fast becoming a major contributor to the economy with an approximate contribution of 6-8 percent and projected an annual growth rate of 2.2 percent. The strong performance of the retail sector in Dubai, the consumer spending, tourist inflow and the spending capacity of the tourists that visit Dubai, provide an excellent investment opportunity.

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