The tourism industry and the hotel real estate market in Dubai continue to develop, attracting more and more foreign tourists. This dynamic has a positive impact on the hotel sector in Dubai, which attracts additional investments in hotels and apart hotels.
One of the fastest growing directing markets of the tourism sector of the emirate is China. According to the Department of Tourism, since 2014 the tourist flow from China has increased by 114%. The annual increase in the indicator from 2016 to 2017 amounted to 41.4%. Statistics include those tourists who spent at least one night in Dubai.
Thanks to such rates, China is now the fastest growing emirate market, and occupies the 4th place by absolute number of visitors to Dubai.
This growth was made possible through strategic cooperation between Dubai and China. So, various measures to promote the tourism offer of the emirate and its investment potential were held in 48 cities of China.
In addition, an important role was played by the easing of the visa regime for Chinese citizens in 2016.
The authorities of Dubai cooperate with large Chinese companies. So, an agreement was signed with Huawei, according to which the smartphone manufacturer will upload to its electronics official and user-generated content promoting Dubai.
Numerous agreements with tourism and financial institutions in Dubai and China, including Dubai Parks & Resorts , Emirates Airline, UnionPay, and Bank of China were signed this week.
Four leading banks of China are represented in the UAE. More than 100 flights per week are made between the two countries.
Emirates which now operates seven-way flights in China, has undertaken to develop special offers and bonuses for passengers from China.
This interest of the Department of Tourism in China is explained not only by the geographical proximity of this country, but also by its potential as a guiding market. According to Ctrip, in 2017 China became the largest directing market of the world tourism industry, sending 129 million tourists to various countries. In addition, the authorities expect to attract additional investments in hotels, residential and commercial real estate, in the retail sector and other sectors of the economy.
The citizens of China show growing interest in the Dubai property market. According to Knight Frank, in the first half of 2017, Chinese investors formed the fourth largest group of Dubai property buyers, and the total value of objects purchased by Chinese investors for the 18 months to June 2017, according to DLD, exceeded 3 billion dirhams, or $ 816 million.