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Increasing consumer spending on the hotel and restaurant sectors in January – Local Economy


Consumer spending on the hotel and restaurant sectors in the UAE witnessed a significant increase in January 2021, which contributed to supporting the movement of the two sectors that showed increased activity, starting from August 2020.

The activity recorded by hotels and restaurants in the country was reflected in the index of the two sectors represented in the consumer price index, as it increased by 2.09% during January 2021, compared to the same month of 2020, according to the latest figures issued by the Federal Center for Competitiveness and Statistics.

The recorded increase in consumer spending on hotel and restaurant services contributed to the increase in the tourism sector activity in the country in general during January 2021.

Previous statistics issued by the tourism departments in all the emirates of the country recorded a growth in the tourism and hotel sectors by more than 100% in the third quarter of 2020, compared to the second quarter of the same year.

The sectors of tourism, hotels and restaurants are among the most important sectors supporting the national economy and the policy of economic diversification.

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According to the figures of the Federal Competitiveness and Statistics Center, which were issued earlier, the number of hotel guests in the UAE increased to 3.385 million in the period from July to August 2020, compared to 1.31 million in the period from March to the end of June of the same year.

The recorded increase in the number of guests coincided with the increase in the number of hotel establishments (hotels and hotel apartments) that returned to work, as the number rose to 1032 at the end of the third quarter of this year, compared to 929 facilities at the end of the second quarter of the same year.

It is noteworthy that the action plans for the tourism and travel sector development strategy aim to raise the sector’s contribution to 116.1 billion dirhams, equivalent to 5.4% of the expected GDP in 2027.

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Source site www.emaratalyoum.com

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