The UAE’s hotel netted a record AED 5.42 billion (US$1.47 billion) in 2003, including Dh2.78 billion (US$757 million) in lodging revenue. From the original position of making a negligible contribution to the domestic economy, hotels, restaurants and other tourist destinations have now become a key component of the UAE’s gross domestic product. In 2004 this sector alone is estimated at around Dh6.34 billion (US$1.72 billion), accounting for around 2.16% of GDP.