Emirates NBD Investor Presentation Q1 2022
Dubai: Positioning for future growth
Key contributors to Dubai GDP (Jan-Sep 2021)
Hospitality
4.3%
Other
15.1%
ICT
4.3%
Trade
25.4%
Government
5.0%
Construction
6.6%
Real Estate Services
9.2%
Financial Services
10.8%
Manufacturing
9.7%
Transport
9.6%
Visitors (January-April)
In million tourists
7
6
6.26
6.04
6.09
LO
5
4
3
2
1
2017
2018
Source: STR Global, Bloomberg, DTCM, Dubai Statistics
% of total
Key Highlights
• ENBD Research expects Dubai's economy to grow by 4.5% in 2022
• Visitor numbers expected to grow from 7.3 million in 2021, towards 2019 level
of 16.7 million
• Hotel occupancy and RevPAR expected to continue to improve in 2022
• Dubai rapidly established itself as a leading hub for fintech start-ups in MENA
• UAE Net Zero by 2050 strategic initiative provides exciting ESG opportunities
Dubai occupancy rates and RevPAR (January-April)
100
200
80
5.1
60
1.68
2019
2021
2022
160
120
40
82.6
86.1
85.0
82.9
80
76.4
60.9
55.5
20
0
2016
2017
2018
Average hotel occupancy rates (LHS)
2019
2020
2021
40
0
2022
USD
Average revenue per available room RevPAR (RHS)
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