Tourism to help Abu Dhabi wean off petrodollars

Abu Dhabi - Mubasher: The growth of Abu Dhabi’s tourism sector is crucial to the UAE economy, as the sector serves as a mean to curtail the country’s dependence on hydrocarbon revenues.

As oil returns account for 30% of the UAE’s gross domestic product (GDP), the Arab country has the most diversified economy in the GCC.

"Abu Dhabi strives to diversify its GDP away from oil and one of the key sectors enabling us to do that is the tourism sector,” director general of Abu Dhabi’s tourism and culture department told CNBC.  

Following the inauguration of the $1 billion (AED 3.67 billion) Louvre Abu Dhabi, the emirate expected a growth in its visitors hand in hand with a rise in nationals’ awareness and taste for arts and culture, Ghobash remarked.  

"It's all about us providing a place for visitors and residents alike to have conversations to understand how connected they are to one another, it's a message of peace," CNBC revealed, citing the top official as saying. 

Abu Dhabi's tourism sector skyrocketed 18.9% between 2009 and 2016, according to the 2017 Mastercard Global Destination Cities Index.

Mubasher Contribution Time: 17-Apr-2018 09:57 (GMT)
Mubasher Last Update Time: 17-Apr-2018 10:07 (GMT)

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