Dubai’s determined progress plan for its hospitality field is confirming to be a big draw among worldwide players and Dubai Investment Development Agency (Dubai FDI) in the Department of Economic Development (DED) in association with leading company formation specialists.
The hospitality field in Dubai is set to deal with substantial growth, with more than 24,000 hotels and serviced apartments approximated to enter the market in the next three years.
With Dubai supposing to fascinate 20 million tourists by the end of the decade, according to the emirate’s Tourism Vision for 2020, venture in hospitality infrastructure and services is the main concern for the government. Dubai’s hotels received more than 11 million travelers in 2013, an increase of just above 1 million on 2012 numbers and a sign that Dubai is on track to attain its 2020 visitor goal.
Coupled by successful bid to host Expo 2020, Dubai is becoming more and more appealing investment destination for foreign hospitality corporations. It is essential they persist to assess and progress commercial activity in the area in order to charm the most innovative corporations to the emirate.
As tourism division is well renowned and established as an important driver of Dubai’s GDP, some of the larger worldwide hotel management corporations have been slower to enter the market. On the other hand, Dubai’s enthusiasm to evaluate and develop commercial activities permitted in the hospitality field has given a solid reason for such corporations to shift to the emirate.
Beforehand, worldwide hotel operators had to associate with local property owners to organize in the emirate. This limited prospective development opportunities and meant a gap existed in fulfilling internal risk criteria for a lot of these corporations.
At this time, with the support of Dubai FDI, they have precise commercial activity for hotel management services introduced in Dubai and this has fascinated owner-operator brands. It has also allowed property developer to expand into serviced hotel apartments and hotels.
With the help of Dubai FDI, Department of Tourism and Commerce Marketing (DTCM) and The Links Group we were able to get hotel management operations established as an extremely demanded and pertinent activity that should be supported corresponding to the vision of Dubai Government to increase the tourism and hospitality division.