Tourism project investment in the UAE is expected to grow by nearly 12.5 percent in 2024 after recording a 15.1 percent increase in 2023, according to global data.

Figures by the London-based World Travel and Tourism Council published by the semi-official UAE daily Alittihad on Monday showed tourism investment in the second largest Arab economy totalled about 28.8 billion UAE dirhams ($7.8 billion) in 2023.

The investments are projected to grow by around 12.5 percent to AED32.4 billion ($8.8 billion) in 2024, the Council said in its report.

Its forecasts showed tourism investments will record 4 percent growth annually to reach around AED50.9 billion ($13.8 billion) in 2034, nearly 8.3 percent of the total investments in the UAE during that year.

(Writing by Nadim Kawach; Editing by Anoop Menon)


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