Dubai Airports, the operator of Dubai International Airport, raised its annual passenger forecast again after the Gulf hub reached pre-coronavirus quarterly traffic levels between July and September 2022.
Dubai International Airport handled 18.5 million passengers in the third quarter, more than doubling year on year, Dubai Airports said on Tuesday.
This was first time that quarterly traffic reached pre-pandemic levels since 2020, with the figure higher than the 17.8 million passengers who travelled through the airport in the first quarter of 2020 before the onset of Covid-19.
The airport recorded average monthly traffic exceeding the six million mark throughout the third quarter.
“The recovery has been steeper than expected and … our strategy of maintaining the right resources and deploying them in the right place and right time seems to have paid off,” Paul Griffiths, chief executive of Dubai Airports, told The National.
“Other airports around the world that have cut deep into their resources are finding it very difficult to get back to full strength.
“We are now seeing more visitors to and from Dubai than ever before … what we have seen is significant growth from Flydubai — that has been a big driver of it, they are well over 100 per cent of their pre-pandemic passenger and flight numbers — and also international airlines are performing better than [they did] pre-pandemic.”
Dubai government safety measures, cooler weather, a growing list of tourist attractions and people's desire to travel after two years of lockdowns are among other factors making Dubai an attractive destination for visitors, Mr Griffiths said.
The recovery at the airport, a hub for Emirates airline, continued, with strong travel demand registered during the peak summer season as international borders reopened and coronavirus restrictions eased.
The Gulf hub benefitted from running smooth operations, compared with some major European airports that were left reeling from delays that caused widespread disruption as demand roared back after the pandemic.
Annual passenger forecast
Dubai Airports said it now expects 64.3 million passengers to travel through Dubai International Airport in 2022, about 3 per cent more than its last annual forecast in August of 62.4 million passengers, after a strong third quarter and expectations of surging volumes in the last three months of the year, it said.
“The sentiment for the fourth quarter is pretty good,” Mr Griffiths said.
“We have had more than six million passengers per month in the second half and at peak times, if the numbers go to seven million, we will be in unchartered territory in terms of record passenger numbers.
“We normally get 7.6 million on a busy month, so, hopefully, we will go back to those numbers fairly shortly.”
A full recovery in passenger traffic to 2019 levels, when 86.4 million passengers used the airport, could come a year earlier than expected amid the strong rebound in travel, said Mr Griffiths.
“We have been quite conservative and have raised our annual passenger forecast many times over the last few months. So, if that trend continues, we could perhaps be back and exceeding pre-pandemic levels as early as next year,” he said.
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The changing face of Dubai International Airport, over 50 years — in pictures
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In the first nine months of 2022, Dubai International Airport handled 46.3 million passengers, an annual increase of 167.6 per cent, Dubai Airports said.
The traffic volume so far this year represents 72 per cent of the airport's pre-pandemic passenger traffic during the same period in 2019.
Point-to-point travel at the airport is exceeding pre-pandemic levels and compensating for a slower-than-expected recovery in transit traffic in some markets, Mr Griffiths said.
“Transit traffic is still slightly hampered by the extended recovery cycle in places like China and the Far East that are not coming back as quickly as we would like,” he said.
“There is a shortage of capacity in those markets and the numbers are not where we would like them to be.”
China made up about 2 per cent to 3 per cent of Dubai International Airport's overall traffic in a normal year.
The airport has 238 unique destinations in 98 countries, with 90 international airlines serving the hub currently.
“The traditional markets that have always been strong to and from Dubai are performing the best out of our entire group,” Mr Griffiths said.
India was Dubai International Airport's top source country once again in terms of traffic volume, recording 6.8 million passengers in the first nine months of the year.
Saudi Arabia was second with 3.4 million passengers, followed by the UK (3.2 million passengers) and Pakistan (2.7 million passengers).
Other notable country markets were the US and Australia with 2.2 million and 1.1 million passengers, respectively.
The top three cities by traffic were London, Riyadh and Mumbai.
Dubai World Central, the emirate's second hub, is currently operating up to 120 shuttle flights daily to carry World Cup fans between Dubai and Doha, which will lift its passenger throughput to “a few million”, Mr Griffiths said.
Travel outlook 'healthy' despite economic headwinds
However, Mr Griffiths said the outlook for travel demand remains upbeat despite global economic headwinds.
“Air travel has become so much a part of our DNA that it would not be regarded as too much of a discretionary spend because people will continue to want to travel,” he said.
“They may be cost-sensitive about the way they travel but I do think travel projections remain quite healthy and bullish.”
Capacity is constrained after airlines retired older aircraft during the pandemic and struggling to hire and train pilots and cabin crew after cutting jobs during the crisis, Mr Griffiths said.
On the other hand, demand for travel is quite strong after two years of lockdowns, he added.
“So, we have got a real bubble of supply and a tightness of demand,” he said. “There is a shortage of seats and that is why airline pricing is so astronomic.”
Air cargo volumes
Air cargo volumes at the airport were affected by the move of all major freight operators from Dubai International Airport back to DWC in March, Dubai Airports said.
Dubai International Airport recorded 397,676 tonnes of freight in the third quarter, bringing the total volume for the first nine months of 2022 to 1,307,691 tonnes, an annual drop of 23.3 per cent as demand softened, Dubai Airports said.
Cargo demand is also rationalising from the peak reached during the pandemic as passenger jets that airlines had converted to freight aircraft at the time are now changed back to carry people as travel demand rebounds, Mr Griffiths said.
Why your domicile status is important
Your UK residence status is assessed using the statutory residence test. While your residence status – ie where you live - is assessed every year, your domicile status is assessed over your lifetime.
Your domicile of origin generally comes from your parents and if your parents were not married, then it is decided by your father. Your domicile is generally the country your father considered his permanent home when you were born.
UK residents who have their permanent home ("domicile") outside the UK may not have to pay UK tax on foreign income. For example, they do not pay tax on foreign income or gains if they are less than £2,000 in the tax year and do not transfer that gain to a UK bank account.
A UK-domiciled person, however, is liable for UK tax on their worldwide income and gains when they are resident in the UK.
Things Heard & Seen
Directed by: Shari Springer Berman, Robert Pulcini
Starring: Amanda Seyfried, James Norton
2/5
Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.
Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.
“Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.
Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.
“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.
Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.
From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.
Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.
BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.
Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.
Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.
“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.
Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.
“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.
“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”
The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”
Hili 2: Unesco World Heritage site
The site is part of the Hili archaeological park in Al Ain. Excavations there have proved the existence of the earliest known agricultural communities in modern-day UAE. Some date to the Bronze Age but Hili 2 is an Iron Age site. The Iron Age witnessed the development of the falaj, a network of channels that funnelled water from natural springs in the area. Wells allowed settlements to be established, but falaj meant they could grow and thrive. Unesco, the UN's cultural body, awarded Al Ain's sites - including Hili 2 - world heritage status in 2011. Now the most recent dig at the site has revealed even more about the skilled people that lived and worked there.
Classification of skills
A worker is categorised as skilled by the MOHRE based on nine levels given in the International Standard Classification of Occupations (ISCO) issued by the International Labour Organisation.
A skilled worker would be someone at a professional level (levels 1 – 5) which includes managers, professionals, technicians and associate professionals, clerical support workers, and service and sales workers.
The worker must also have an attested educational certificate higher than secondary or an equivalent certification, and earn a monthly salary of at least Dh4,000.
The 24-man squad:
Goalkeepers: Thibaut Courtois (Chelsea), Simon Mignolet (Liverpool), Koen Casteels (VfL Wolfsburg).
Defenders: Toby Alderweireld (Tottenham), Thomas Meunier (Paris Saint-Germain), Thomas Vermaelen (Barcelona), Jan Vertonghen (Tottenham), Dedryck Boyata (Celtic), Vincent Kompany (Manchester City).
Midfielders: Marouane Fellaini (Manchester United), Axel Witsel (Tianjin Quanjian), Kevin De Bruyne (Manchester City), Eden Hazard (Chelsea), Nacer Chadli (West Bromwich Albion), Leander Dendoncker (Anderlecht), Thorgan Hazard (Borussia Moenchengladbach), Youri Tielemans (Monaco), Mousa Dembele (Tottenham Hotspur).
Forwards: Michy Batshuayi (Chelsea/Dortmund), Yannick Carrasco (Dalian Yifang), Adnan Januzaj (Real Sociedad), Romelu Lukaku (Manchester United), Dries Mertens (Napoli).
Standby player: Laurent Ciman (Los Angeles FC).
SPEC%20SHEET%3A%20SAMSUNG%20GALAXY%20Z%20FOLD%204
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Ziina users can donate to relief efforts in Beirut
Ziina users will be able to use the app to help relief efforts in Beirut, which has been left reeling after an August blast caused an estimated $15 billion in damage and left thousands homeless. Ziina has partnered with the United Nations High Commissioner for Refugees to raise money for the Lebanese capital, co-founder Faisal Toukan says. “As of October 1, the UNHCR has the first certified badge on Ziina and is automatically part of user's top friends' list during this campaign. Users can now donate any amount to the Beirut relief with two clicks. The money raised will go towards rebuilding houses for the families that were impacted by the explosion.”
Avatar: Fire and Ash
Director: James Cameron
Starring: Sam Worthington, Sigourney Weaver, Zoe Saldana
Rating: 4.5/5
THE BIO
Ms Davison came to Dubai from Kerala after her marriage in 1996 when she was 21-years-old
Since 2001, Ms Davison has worked at many affordable schools such as Our Own English High School in Sharjah, and The Apple International School and Amled School in Dubai
Favourite Book: The Alchemist
Favourite quote: Failing to prepare is preparing to fail
Favourite place to Travel to: Vienna
Favourite cuisine: Italian food
Favourite Movie : Scent of a Woman
More on Quran memorisation:
Padmaavat
Director: Sanjay Leela Bhansali
Starring: Ranveer Singh, Deepika Padukone, Shahid Kapoor, Jim Sarbh
3.5/5
The Perfect Couple
Starring: Nicole Kidman, Liev Schreiber, Jack Reynor
Creator: Jenna Lamia
Rating: 3/5
Sleep Well Beast
The National
4AD
Sole survivors
- Cecelia Crocker was on board Northwest Airlines Flight 255 in 1987 when it crashed in Detroit, killing 154 people, including her parents and brother. The plane had hit a light pole on take off
- George Lamson Jr, from Minnesota, was on a Galaxy Airlines flight that crashed in Reno in 1985, killing 68 people. His entire seat was launched out of the plane
- Bahia Bakari, then 12, survived when a Yemenia Airways flight crashed near the Comoros in 2009, killing 152. She was found clinging to wreckage after floating in the ocean for 13 hours.
- Jim Polehinke was the co-pilot and sole survivor of a 2006 Comair flight that crashed in Lexington, Kentucky, killing 49.
Key figures in the life of the fort
Sheikh Dhiyab bin Isa (ruled 1761-1793) Built Qasr Al Hosn as a watchtower to guard over the only freshwater well on Abu Dhabi island.
Sheikh Shakhbut bin Dhiyab (ruled 1793-1816) Expanded the tower into a small fort and transferred his ruling place of residence from Liwa Oasis to the fort on the island.
Sheikh Tahnoon bin Shakhbut (ruled 1818-1833) Expanded Qasr Al Hosn further as Abu Dhabi grew from a small village of palm huts to a town of more than 5,000 inhabitants.
Sheikh Khalifa bin Shakhbut (ruled 1833-1845) Repaired and fortified the fort.
Sheikh Saeed bin Tahnoon (ruled 1845-1855) Turned Qasr Al Hosn into a strong two-storied structure.
Sheikh Zayed bin Khalifa (ruled 1855-1909) Expanded Qasr Al Hosn further to reflect the emirate's increasing prominence.
Sheikh Shakhbut bin Sultan (ruled 1928-1966) Renovated and enlarged Qasr Al Hosn, adding a decorative arch and two new villas.
Sheikh Zayed bin Sultan (ruled 1966-2004) Moved the royal residence to Al Manhal palace and kept his diwan at Qasr Al Hosn.
Sources: Jayanti Maitra, www.adach.ae
Her most famous song
Aghadan Alqak (Would I Ever Find You Again)?
Would I ever find you again
You, the heaven of my love, my yearning and madness;
You, the kiss to my soul, my cheer and
sadness?
Would your lights ever break the night of my eyes again?
Would I ever find you again?
This world is volume and you're the notion,
This world is night and you're the lifetime,
This world is eyes and you're the vision,
This world is sky and you're the moon time,
Have mercy on the heart that belongs to you.
Lyrics: Al Hadi Adam; Composer: Mohammed Abdel Wahab
