The United Arab Emirates (UAE) travel and tourism industry plays a pivotal role in the emirates' economic diversification, said Sheikha Lubna Al-Qasimi, UAE Minister of Foreign Trade, here on Monday. Delivering a keynote address highlighting the UAE's economic success and discussing the UAE's tourism potential with foreign travel professionals at the 6th GlobalStar Annual Conference being held at the Hyatt Regency Dubai, she said “the travel and tourism sector has become a major growth area of the UAE and an important component of its economic diversification efforts. Our country has become a preferred leisure and business destination because of the unique mix of modernity and rich Arab heritage that we offer travelers. The UAE government through the support of the Ministry of Foreign Trade will continue to fully support initiatives that will nurture this crucial industry,” she said. Highlighting the UAE's strengths as a preferred travel destination, Sheikha Lubna noted that the country has been ranked as the leading Arab tourism destination and is among the top 20 in the world out of 124 countries surveyed by the World Economic Forum's first annual Travel and Tourism Competitiveness Index. She also highlighted the AED257 billion in investments being poured in hotel and related tourism and leisure facilities projects scattered all over the UAE. The newly-formed Ministry of Foreign Trade headed by Sheikha Lubna aims to further enhance the UAE's already strong regional and international commercial relations, particularly in growth industries such as travel and tourism. The trade is expected to generate AED286.2 billion in revenues and contribute 6.4 percent directly to the national GDP in 2008 and expand to AED498.8 billion by 2018. With six world-class international airports, 15 marine ports and entry points on the Saudi Arabian and Omani borders, the UAE will continue to be an easily accessible and enjoyable destination for the global traveler. “The UAE's phenomenal growth serves as an excellent model for international organizations who aim to achieve the same levels of success. Our country shows how inspiring leadership, forward-thinking policies, a commitment to excellence and a unified vision can lead to significant and sustained prosperity,” she added. More than 150 delegates from 60 countries representing GlobalStar, a unique group of prominent international travel management companies, attended the annual event from May 10- 14 to discuss regional and international opportunities in travel and tourism in anticipation of the industry's expected 4 percent annual growth rate over the next decade. __
