UAE airports have welcomed about 97.9 million passengers in the first eight months of 2024, underlining the continued role of aviation in the Emirates' economy, the sector's regulator has said.
The country's 10 airports, eight of which are international hubs, saw passenger traffic rise 12.6 per cent annually up to August, the General Civil Aviation Authority said in a statement on Saturday, which is also UAE Civil Aviation Day.
The UAE's airlines – Etihad Airways, Emirates, flydubai, Air Arabia, Air Arabia Abu Dhabi and Wizz Air Abu Dhabi – operated 4,807 weekly flights to several destinations around the world, it said.
The GCAA did not provide estimated figures for the full year.
The country is home to Dubai International Airport (DXB), the world's busiest by passenger traffic, and Al Maktoum International Airport in Dubai, set to be the world's largest when fully operational.
"The UAE's civil aviation sector leads numerous global competitiveness indicators, surpassing many developed nations. The country boasts six national carriers renowned for luxury, quality, security and safety," the GCAA said.
Throughout the decades, aviation has steadily contributed to the economy of the UAE, whose key industries include tourism and hospitality: at present, aviation contributes up to 13.3 per cent of gross domestic product, from less than 1 per cent in 1971, when the country was founded, government data shows.
"This sector today serves as a fundamental pillar of national economic growth and enhances its competitiveness regionally and internationally. Additionally, this vital sector has played a key role in establishing the UAE as a bridge for connecting with global markets," Abdullah bin Touq, Minister of Economy and chairman of the GCAA's board of directors, said in the statement.
The UAE is a major trade, tourism and business centre in the Middle East. Dubai alone attracted a record 17.1 million international overnight visitors in 2023, according to July data from the Department of Economy and Tourism.
The country's central bank expects the Gulf country's economy to expand by 4 per cent this year, an increase from its estimate in June of 3.9 per cent, on the back of a boost from its non-oil sector from property to tourism.
International visitors to the UAE will spend an estimated $52.2 billion in the country this year, up 9.4 per cent annually, the World Travel and Tourism Council said last month.
The UAE's air transport market is projected to grow by about 170 per cent over the next 20 years, which would result in the addition of 101 million passenger flights by 2037, estimates from the International Air Transport Association have shown.
This growth will also support the national economy by contributing approximately $127.7 billion, in addition to creating 1.4 million jobs, the Canada-based aviation body said.
Dubai Airports, in particular, last week raised its annual forecast for DXB to 93 million passengers in 2024, up from an earlier forecast of 91.8 million, despite heightened geopolitical tensions in the Middle East.
“The aviation sector in the UAE is a vital artery connecting us to the world, with Dubai International Airport standing as a global model for growth and quality," said Sheikh Ahmed bin Saeed, president of the Dubai Civil Aviation Authority and chief executive of Emirates Airline.
"Through our partnerships with global airlines, we strive to enhance air connectivity between the UAE and countries around the world ... we remain committed to delivering excellence to ensure the UAE's continued role as a global hub for civil aviation."
Passenger traffic at Abu Dhabi's Zayed International Airport, meanwhile, rose 33.8 per cent year-on-year to 13.7 million in the first half of 2024, exceeding expectations as it attracted new airlines and expanded its destination network, its operator Abu Dhabi Airports said in July.
The Abu Dhabi hub, which is home to Etihad Airways, handled 13.7 million passengers in the January to June period of this year, state-owned operator Abu Dhabi Airports said.
Passenger traffic across Abu Dhabi's five airports collectively increased by 33.5 per cent annually in the first half of the year to 13.9 million passengers, it added.
"The developments witnessed in the civil aviation sector in the UAE not only enhance the travel experience, but also contribute to driving the national economy. We understand what businesses need to thrive and we are committed to continuing to empower Abu Dhabi as a hub for air transport in the region," said Mohamed Ali Al Shorafa, chairman of Abu Dhabi's Department of Municipalities and Transport.
Profile
Company: Libra Project
Based: Masdar City, ADGM, London and Delaware
Launch year: 2017
Size: A team of 12 with six employed full-time
Sector: Renewable energy
Funding: $500,000 in Series A funding from family and friends in 2018. A Series B round looking to raise $1.5m is now live.
PRESIDENTS CUP
Draw for Presidents Cup fourball matches on Thursday (Internationals first mention). All times UAE:
02.32am (Thursday): Marc Leishman/Joaquin Niemann v Tiger Woods/Justin Thomas
02.47am (Thursday): Adam Hadwin/Im Sung-jae v Xander Schauffele/Patrick Cantlay
03.02am (Thursday): Adam Scott/An Byeong-hun v Bryson DeChambeau/Tony Finau
03.17am (Thursday): Hideki Matsuyama/CT Pan v Webb Simpson/Patrick Reed
03.32am (Thursday): Abraham Ancer/Louis Oosthuizen v Dustin Johnson/Gary Woodland
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Laura Shapiro
Fourth Estate
World Cricket League Division 2
In Windhoek, Namibia - Top two teams qualify for the World Cup Qualifier in Zimbabwe, which starts on March 4.
UAE fixtures
Thursday February 8, v Kenya; Friday February 9, v Canada; Sunday February 11, v Nepal; Monday February 12, v Oman; Wednesday February 14, v Namibia; Thursday February 15, final
EA Sports FC 26
Publisher: EA Sports
Consoles: PC, PlayStation 4/5, Xbox Series X/S
Rating: 3/5
Our family matters legal consultant
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
Mobile phone packages comparison
UAE currency: the story behind the money in your pockets
The biog
Age: 19
Profession: medical student at UAE university
Favourite book: The Ocean at The End of The Lane by Neil Gaiman
Role model: Parents, followed by Fazza (Shiekh Hamdan bin Mohammed)
Favourite poet: Edger Allen Poe
NBA Finals so far
(Toronto lead 3-1 in best-of-seven series_
Game 1 Raptors 118 Warriors 109
Game 2 Raptors 104 Warriors 109
Game 3 Warriors 109 Raptors 123
Game 4 Warriors 92 Raptors 105
How to keep control of your emotions
If your investment decisions are being dictated by emotions such as fear, greed, hope, frustration and boredom, it is time for a rethink, Chris Beauchamp, chief market analyst at online trading platform IG, says.
Greed
Greedy investors trade beyond their means, open more positions than usual or hold on to positions too long to chase an even greater gain. “All too often, they incur a heavy loss and may even wipe out the profit already made.
Tip: Ignore the short-term hype, noise and froth and invest for the long-term plan, based on sound fundamentals.
Fear
The risk of making a loss can cloud decision-making. “This can cause you to close out a position too early, or miss out on a profit by being too afraid to open a trade,” he says.
Tip: Start with a plan, and stick to it. For added security, consider placing stops to reduce any losses and limits to lock in profits.
Hope
While all traders need hope to start trading, excessive optimism can backfire. Too many traders hold on to a losing trade because they believe that it will reverse its trend and become profitable.
Tip: Set realistic goals. Be happy with what you have earned, rather than frustrated by what you could have earned.
Frustration
Traders can get annoyed when the markets have behaved in unexpected ways and generates losses or fails to deliver anticipated gains.
Tip: Accept in advance that asset price movements are completely unpredictable and you will suffer losses at some point. These can be managed, say, by attaching stops and limits to your trades.
Boredom
Too many investors buy and sell because they want something to do. They are trading as entertainment, rather than in the hope of making money. As well as making bad decisions, the extra dealing charges eat into returns.
Tip: Open an online demo account and get your thrills without risking real money.
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The National's picks
4.35pm: Tilal Al Khalediah
5.10pm: Continous
5.45pm: Raging Torrent
6.20pm: West Acre
7pm: Flood Zone
7.40pm: Straight No Chaser
8.15pm: Romantic Warrior
8.50pm: Calandogan
9.30pm: Forever Young
The Land between Two Rivers: Writing in an Age of Refugees
Tom Sleigh, Graywolf Press
Sugary teas and iced coffees
The tax authority is yet to release a list of the taxed products, but it appears likely that sugary iced teas and cold coffees will be hit.
For instance, the non-fizzy drink AriZona Iced Tea contains 65 grams of sugar – about 16 teaspoons – per 680ml can. The average can costs about Dh6, which would rise to Dh9.
Cold coffee brands are likely to be hit too. Drinks such as Starbucks Bottled Mocha Frappuccino contain 31g of sugar in 270ml, while Nescafe Mocha in a can contains 15.6g of sugar in a 240ml can.
