The investment in tourism infrastructure has significantly increased in Abu Dhabi this year to cater to the growing needs of the rapid expanding tourism sector, a visionary strategy that is accompanied by a keen move to adopt the best practices with the ambition to boost the competitiveness of the tourism profile in the UAE's capital city. As the real estate investment, fair and exhibition activities are adding increasing momentum to the tourist influx, the tourism authority in the UAE largest emirate is targeting 2.7 million by 2012. Abu Dhabi Tourism Authority is taking a conservative approach to guest targets to ensure the destination has the necessary infrastructure in place to satisfy demand. Speaking on the impacts of real estate investment on the tourist attraction, Dr Abdulraman Al-Tassan, CEO of RAKAA Properties, said: “All indicators point out to further up side move in investment flow to Abu Dhabi real estate sector, and these expectations have received a further boost, recently, with the revealing of the ADTA's five-year tourism development strategic plan. The investment in infrastructure projects will exceed AED630-650 billion by 2011-2013 according to recent reports, and the value of construction projects in the UAE is estimated at AED1.6 trillion, during the period between 2004 and 2007, with Abu Dhabi's share alone estimated at AED880 billion according to a report issued recently by Abu Dhabi Chamber of Commerce and Industry”. The CEO of Falcon Crest and the Dynasty smart towers developer on Al-Reem Island, added: “A developer is definitely interested in taking the pulse of a market and in examining its vibrancy and dynamism before he decides to pump his investment in a particular destination. The UAE is ranked among the world top five in terms of tourism sector's contribution to GDP, calculated at 13.7 percent, with AED858 billion investment and projected revenues of AED196 billion, highly promising figures that encourage a further wave of investment into the country”. The UAE has achieved a record growth in tourism sector in 2007, driven by an increasing influx into the emirate for regional fairs and exhibitions. The 100 percent hotel occupancy rate in peak seasons has driven a 300 percent price increase per room, especially following the fall of UAE dirham against Euro, which boosted the purchasing power of the European tourists.” According to recent studies, tourism sector has emerged as a top investment priority for the GCC countries with about Dhs1 trillion and 400 million allocated to develop tourism infrastructure over the coming decade. The UAE is the dominant player in the region's tourism development with an 85 percent share of the total value of announced projects. The UAE has the region's largest number of hotels under development, with 253 hotels, followed by Qatar, Saudi Arabia and Egypt, respectively. Other statistics estimated AED200 billion of tourism revenue in the UAE after a period of 10 years. __
