Dubai’s rise as a global tourist leader continues, as it is named the world’s favourite New Year destination.
- Dubai has been named as world’s favourite New Year destination
- Tourist numbers are constantly growing as Dubai aims to secure 20 million annual visitors by 2020
- As demand for accommodation exceeds the supply of new property in Dubai, investors believe there will be upward pressure on yields
Demand for Dubai apartments, hotel rooms and villas is increasing all the time, as the emirate establishes itself as one of the world’s premier leisure and business destinations.
Recent research from travel booking website Kayak has found that Dubai is the world’s favourite New Year destination. More people are considering travelling to celebrate the start of 2016 in Dubai than any other global destination, with Cartagena in Colombia and the Spanish city Barcelona second and third in the list.
Tourism is one of the most developed sectors of Dubai’s economy, helping to drive both domestic and overseas investment in the emirate. Authorities have set a target of attracting 20 million visitors per annum by 2020.
It is widely predicted that demand for both short-term and residential accommodation in Dubai will grow at a much faster pace than the supply of new property in the region, especially as the emirate unveils more and more attractions ahead of hosting the World Expo event in 2020.
Speaking about the recent growth in visitor numbers, Issam Kazim, Chief Executive Officer of Dubai Tourism, said: “Dubai’s range of attractions, experiences and events already holds great appeal for families from across all of our source markets, and with four major theme parks opening in Dubai next year, this is set to be significantly enhanced.”
Dubai was also recently named as the UK’s favourite long-haul city break destination, beating New York, Bangkok and Singapore.