The global biomedical refrigerators and freezers market is slated to magnify at a strong CAGR of 4.2% over the period amid 2016 and 2024. The market, which was worth $2.91 billion in 2015, is predicted to upswing to $4.28 billion by 2024…
BMI View: We maintain a positive outlook for the United Arab Emirates' (UAE's) strong tourism industry,
as visitors are continuously drawn to its numerous attractions and extensive hotel sector. Supporting
transport infrastructure is very well developed and the government is investing further in air travel
connections to ensure that the UAE remains the most accessible market in the region. While security
concerns in the Middle East have the potential to derail growth, we presently forecast healthy growth in
tourism arrivals and tourism-related expenditure throughout the forecast period to 2020.
Key Updates And Forecasts
? While Abu Dhabi and Dubai account for the vast bulk of the UAE's tourism industry, other regions are
also experiencing healthy growth in arrivals and spending. In August 2016, the Sharjah Commerce and
Tourism Development Authority reported that hotel revenue had increased 7% throughout the first half of
the year, with China the fastest growing market.
? The hotel market is attracting significant investment, and a broad range of projects are under
development. New hotels due to open throughout the coming months include a Hard Rock Hotel in Dubai
Marina and new Hilton properties.