Away from the western media frenzy on news that Dubai World was looking for a standstill agreement on $59 billion of debt, I went through interesting facts about the tourism industry in Dubai:
- Tourist arrivals to Dubai were 3.85 million visitors through the first half of 2009 up 5%. In contrast, 10 years ago Dubai had about 3 million visitors annually; 20 years ago, it was around 600,000 visitors.
- Total number of guests stayed at hotels is up so far this year, but average occupancy dropped to less than 70% from the more than 87% experienced between January and June last year, due to new supply of hotel rooms.
- Dubai had 58,000 hotel rooms at the end of the first half of 2009, with an increase of 17% over last year. Thousands more are due to enter the market in the next few years (Las Vegas has just over double the number of rooms with five times the number of visitors annually!!).
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