Dubai International Airport retained the title of the world's busiest international hub for passengers in 2021, as air travel demand continues to recover, rankings by the Airports Council International (ACI) show.
Istanbul, Amsterdam, Frankfurt and Paris followed Dubai as the top five busiest airports by international traffic, the trade association for airports worldwide said on Monday.
Dubai, which does not have a domestic market, recorded a 12.7 per cent increase in passenger traffic year on year to 29.1 million in 2021.
“The ACI World passenger traffic rankings tell the story of an encouraging trend of recovery, with most of the recurrent busiest airports pre-Covid-19 back at the top,” ACI World's director general Luis Felipe de Oliveira said.
“Although we are cautious that recovery could face multiple headwinds, the momentum created by reopening plans by countries could lead to an uptick in travel in the second half of 2022."
Global airlines and airports, emerging from the two-year Covid-19 pandemic that shattered air travel demand, are now facing steep rises in jet fuel costs and staff shortages as they try to resume operations as travel rebounds.
Hartsfield-Jackson Atlanta International Airport topped the rankings by overall passenger traffic last year, returning to the list with a 76.4 per cent year-on-year increase in traffic of 75.7 million travellers, ACI data showed.
The rankings are based on the preliminary compilation of 2021 global data from airports around the world, and take into account their domestic and international markets.
Dallas/Fort Worth International Airport, Denver International Airport, Chicago's O'Hare International Airport and Los Angeles International Airport rounded off the top five.
Eight of the top 10 airports for passenger traffic are in the US, with the two remaining in China, per ACI estimates.
Guangzhou Baiyun International Airport and Chengdu Shuangliu International Airport were the two Chinese airports on the top 10 list.
China's international borders stayed shut last year and the country's domestic traffic fell as a result of its zero-Covid policy that led to strict travel restrictions, dampening demand.
Although we are cautious that recovery could face multiple headwinds, the momentum created by reopening plans by countries could lead to an uptick in travel in the second half of 2022
Luis Felipe de Oliveira, director general, ACI World
Orlando International Airport recorded the biggest improvement, jumping to seventh spot in 2021 from 27th position in 2020. Orlando, home to Walt Disney World and Universal Studios Florida theme parks, benefited from soaring leisure travel in the US.
"All top 10 airports have a significant share of domestic traffic, the traffic segment that has been leading global recovery," ACI said.
The total number of global passengers in 2021 is estimated to be nearly 4.5 billion, representing an annual increase of about 25 per cent and a drop of more than 50 per cent from 2019, before the pandemic, ACI said.
Passenger traffic at the top 10 busiest airports accounted for almost 10 per cent of total global traffic, it said. This represents an increase of almost 52 per cent from 2020 but a drop of 29 per cent from 2019.
Global air cargo volumes, meanwhile, increased nearly 15 per cent year on year to an estimated record 124 million metric tonnes in 2021, ACI data revealed.
"The gain can be attributed to the continued increase in demand for online consumer goods and pharmaceutical products," the trade body said.
1. Domestic VAT refund amendments: request your refund within five years
If a business does not apply for the refund on time, they lose their credit.
2. E-invoicing in the UAE
Businesses should continue preparing for the implementation of e-invoicing in the UAE, with 2026 a preparation and transition period ahead of phased mandatory adoption.
3. More tax audits
Tax authorities are increasingly using data already available across multiple filings to identify audit risks.
4. More beneficial VAT and excise tax penalty regime
Tax disputes are expected to become more frequent and more structured, with clearer administrative objection and appeal processes. The UAE has adopted a new penalty regime for VAT and excise disputes, which now mirrors the penalty regime for corporate tax.
5. Greater emphasis on statutory audit
There is a greater need for the accuracy of financial statements. The International Financial Reporting Standards standards need to be strictly adhered to and, as a result, the quality of the audits will need to increase.
6. Further transfer pricing enforcement
Transfer pricing enforcement, which refers to the practice of establishing prices for internal transactions between related entities, is expected to broaden in scope. The UAE will shortly open the possibility to negotiate advance pricing agreements, or essentially rulings for transfer pricing purposes.
7. Limited time periods for audits
Recent amendments also introduce a default five-year limitation period for tax audits and assessments, subject to specific statutory exceptions. While the standard audit and assessment period is five years, this may be extended to up to 15 years in cases involving fraud or tax evasion.
8. Pillar 2 implementation
Many multinational groups will begin to feel the practical effect of the Domestic Minimum Top-Up Tax (DMTT), the UAE's implementation of the OECD’s global minimum tax under Pillar 2. While the rules apply for financial years starting on or after January 1, 2025, it is 2026 that marks the transition to an operational phase.
9. Reduced compliance obligations for imported goods and services
Businesses that apply the reverse-charge mechanism for VAT purposes in the UAE may benefit from reduced compliance obligations.
10. Substance and CbC reporting focus
Tax authorities are expected to continue strengthening the enforcement of economic substance and Country-by-Country (CbC) reporting frameworks. In the UAE, these regimes are increasingly being used as risk-assessment tools, providing tax authorities with a comprehensive view of multinational groups’ global footprints and enabling them to assess whether profits are aligned with real economic activity.
Contributed by Thomas Vanhee and Hend Rashwan, Aurifer
Tenants also require a letter of no objection from their landlord before being allowed to list the property.
There is a cost of Dh1,590 before starting the process, with an additional licence fee of Dh300 per bedroom being rented in your home for the duration of the rental, which ranges from three months to a year.
Anyone hoping to list a property for rental must also provide a copy of their title deeds and Ejari, as well as their Emirates ID.
Cast: Nayanthara, Siddharth, Meera Jasmine, R Madhavan
Star rating: 2/5
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This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home.
Bookshops: A Reader's History by Jorge Carrión (translated from the Spanish by Peter Bush),
Biblioasis
TWISTERS
Director: Lee Isaac Chung
Starring: Glen Powell, Daisy Edgar-Jones, Anthony Ramos
1: Commit to countering all types of terrorism and extremism in all their manifestations
2: Denounce violence and the rhetoric of hatred
3: Adhere to the full compliance with the Riyadh accord of 2014 and the subsequent meeting and executive procedures approved in 2014 by the GCC
4: Comply with all recommendations of the Summit between the US and Muslim countries held in May 2017 in Saudi Arabia.
5: Refrain from interfering in the internal affairs of countries and of supporting rogue entities.
6: Carry out the responsibility of all the countries with the international community to counter all manifestations of extremism and terrorism that threaten international peace and security
