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Dubai Hospitality Industry stands bold despite Weak Western Economy
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05 October 2008
Dubai Hospitality is still warm and expects more cheerful moments in days to follow. The industry is untouched by the declining economy of the West forcing people to spend less on leisure and lavishness. The number of American tourists visiting Dubai is less than a slice of cake. But the scene will be different if this deteriorating US Economy cross the seas and overcasts the European market. Experts and hospitality consultants comment that low priority business traveller and leisure trips will be retained by the corporate world. This practice is likely to continue until the end of prevailing economical hibernation. This trend was seen with fear, Dubai being the hub of region's business activities. But it really did not affect the hotel industry as expected.
Hotels in Dubai have already shown its extensive turn over despite the global economic stagnancy. Dubai is the destination of the so called Wealthy Tourists- people who travel with a will to spend, earn maximum from their trip and richness follow all their way.
To cater their luxury, Dubai has enough rooms in the coming days. Records reveal that in 2007 the city welcomed about 7 million guests and the target is to provide room for 15 million by 2005. Currently the estimated number of Hotel Rooms in Dubai is above 50,000.
Though the small fraction which has gone down is not worrying the industry, investors are keeping a close watch on the numbers with regard to the impact of a globally weakening economy.
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