Tourism has a direct impact on Dubai’s Real Estate Market where the market is going to acquire 20.9 billion U.S. dollars where in 2006 it was just 4 billion U.S. dollars so for this jump there are ceaseless factors that have surged this number as you know Dubai’s infrastructure makes it a sought after destination in the world
where its no language barrier, robust transportation system, safe cocoon for travellers, high availability of attractions, easy to eat options, economical trip and friendly environment all these ensures a comfortable and happy experience.
Even these factors lead to the progress of the city that impacts in every segment to meet the right development & growth, so this is the reason the collection is 5 times more in comparison to its older time, and yes, the purchasing powers have mushroomed where the people want to travel around the world, and for this, Dubai turns out to be an economical destination where travellers friendly perks.
Furthermore, from then to now many changes have occurred to make the travelling process fully comfortable and smooth, so for this, the major developments have taken place such as: -
So these factors and the aura of Dubai where the tallest buildering in the world Burj Khalifa and the biggest shopping centre Dubai malls are the craziest options to experience for each and every visitor.
So this way it has contributed great that is roughly AED 167 billion which is 9% of the total GDP, and this is expected to be 12 per cent in 2024, and this has an optimistic impact on the real estate sector as well where demand for both residential and commercial is escalating and to further support this, the golden visa, easy buying process, great range of affordable properties, high ROI of more than 8%, for example, a community called DAMAC Hills 2 where studios are high in demand because of its attractive price and the community itself where the friendly ambience is an addition to it.
And considering the tourism in Dubai, the demand for studios and 1 BR apartment is more because of its rental and affordability that easily reside 1-3 members serving the purpose of staycation, and the experience is great, then the second step is to invest in property where ROI and rental both are going to generate monthly income to add stability because this is how the capital floats.
| YEAR | SALES COLLECTION |
|---|---|
| 2023 | 89 Billion Dirhams |
| 2024 | 108.7 Billion Dirhams |
Considering the above data this increase has benefited both the investors and builders to grab good benefits where the increase in tourism is always going safeguard the existing and going to be buyers.
When people come here from around the corner they understand the potential of this city where this place is not favourable from tourist’s point of view, in fact to avail the super standard lifestyle where communities such as Palm Jumeirah, Dubai Creek Harbour, Business Bay and more places add a beautiful realm to imbibe the futuristic lifestyle to meet your future today, then an easy livability where in comparison to New York City, Dubai is too cheap and friendly, and then the job opportunities here a well known community Dubai South is going to open up 500,000 jobs which is called as a “CENTRE OF TOMORROW” so these factors showcase the potential of Dubai which is beyond just a staycation.
So these many job opportunities and along with the pro business policies where every form of comfort through norms garner the attention of talented and intellectual groups to be a part of this city to excel in their areas of interest, so these elements influence the new generation to come to a place and test its abilities.
So this is how tourism impacts Dubai’s real estate market where its optimistic effects are going to encourage more people to be a part of this city whose potential is above the power of imagination.
.webp)