The tourism sector in the UAE has continued its steady growth, with hotels generating AED33.5 billion in revenue during the first nine months of 2024, a four per cent increase compared to the same period in 2023.
The average hotel occupancy rate across the seven emirates rose to 77.8 per cent, one of the highest globally. Hotel nights reached approximately 75.5 million from January to September 2024, marking an eight percent increase year-on-year.
The figures were announced during the UAE's participation in the 27th session of the Arab Ministerial Council for Tourism, held at the headquarters of the League of Arab States General Secretariat in Cairo.
The UAE delegation reaffirmed the country's commitment to advancing joint Arab action in the tourism sector, emphasising its role as a vital economic driver and a key contributor to sustainable development in the Arab region.
The delegation also highlighted that joint Arab tourism efforts extend beyond economic benefits, serving as a platform to foster cultural relations and preserve Arab heritage.
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Amazon.com IncĀ is in discussions to invest in OpenAI, the developer of ChatGPT, in a potential deal that could value the artificial intelligence company at over $500 billion, a source familiar with the matter said on Tuesday.
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The UAE and India have reviewed the progress of the Comprehensive Economic Partnership Agreement (CEPA) between the two countries that aim to advance bilateral trade towards a shared goal of $100 billion.