In recent news, the Gulf Tourism Hub has revealed that Dubai has topped the list of cities with the highest tourist spending this year. With a collection of $29.4 million, Dubai has overtaken Doha and London in the top-three cities stated by WTTC (the World Travel and Tourism Council).
Post-pandemic, as the world recovers, 2022 has been the best year for most cities worldwide with international tourist spending. As cases were reduced and restrictions eased, the demand for international tourism began again. This was released through a report for WTTC in Riyadh, where 82 cities internationally found their tourism sectors’ recovery was on track after the pandemic and jobs in travel and tourism is expected to generate up to 8% more jobs in 2023 after the all-time low of 5.1% in 2020.
This news comes as no surprise as Dubai has always stood at the top of the list for tourism through its great collection of world records! With the growth in the tourism sector, the demand for holiday homes also continues to increase as many foreign investors are discovering the Dubai property market is a great place for short-term rentals, holiday homes and more.
Since the Qatar World Cup, many investors purchased holiday homes for tourists that were making their way to the World Cup through Dubai, and now with data revealing Dubai being the top city for international tourism spending, we are sure to attract many more tourists and potential property developments in 2023.
Not just all, with the expectation of a growing job market approaching, residents also have the freedom of using their income towards property investments and holiday homes which acts as a second income for many. We anticipate that this is a trend that will continue to grow and are excited to see it develop over the next few years.
Owning a home is a keystone of wealth… both financial affluence and emotional security.Suze Orman