Dubai Timeshare Market Expected to Grow by 50%

Travel experts anticipate that the timeshare market in Dubai will grow by up to 50% by 2017. They believe that this growth will be caused by the opening of three new theme parks in 2016.

Arabian Falcon Holidays (AFH) shares that the city’s tourism will be based on the success of another tourist destination—Orlando, Florida. According to a study conducted in the U.S., in 2014 Florida hosted 97.3 million visitors by improving their theme park attractions. Dubai hopes to do the same.

Chairman and CEO of Arabian Falcon Holidays, Mohannad Sharafuddin said,

“Dubai Parks and Resorts, the operator of Middle East’s largest multi-themed leisure and entertainment destination, expects over 6.7 million ticketed visits in 2017. That’s a huge number in the first year and will aid in the growth of the timeshare market here.

“The timeshare market will grow exponentially in 2017, surpassing the growth rates of 15 to 20 percent per year, and heralding a new era with an annual growth rate of 50 percent, primarily driven by tourists visiting these theme parks.”

A study conducted by Ernst & Young for ARDA last year revealed that in 2013, spending related to the timeshare industry contributed more than $68.7 billion to the economy. Theme parks and timeshares go hand in hand, as many of the top resorts are located in theme park-centric cities.

Dubai is currently building three theme parks: Legoland Dubai, Motiongate, and Bollywood Parks. All three theme parks are in centrally located areas, close to the Al Maktoum International Airport. Guests will also be able to access the theme parks through the Dubai Metro.

Sharafuddin added, “The economic impact of the theme park on the timeshare market is relevant to Dubai as well. It will increase the number of tourists from Africa and Asia by leaps and bounds, making it the top timeshare destination in the Middle East and North Africa. It will also add more than 14 billion by 2020 to the emirate’s economy.”

The city will also see significant traffic from the new $6.81 billion Mall of the World, developed by Dubai Holding. Although construction will take almost a decade to complete, they expect Mall of the World to become one of the city’s top tourist attractions. The mall will also house the world’s largest glass-domed theme park.

Sharafuddin concluded, “Dubai’s location, significant existing attractions and strong tourism infrastructure position it well to benefit from anticipated strong tourism growth in the Middle East.”

Stay tuned to The Timeshare Authority Blog for the latest timeshare and tourism news from Dubai.