Dubai International Airport (DXB) handled a record 92.3 million passengers last year, an annual increase of nearly 6 per cent, as the emirate solidified its standing as a global tourist destination.
The world's busiest airport by international traffic beat its November forecast of 91.9 million annual passengers last year, up from 87 million in 2023 and exceeding its pre-Covid record of 89.1 million in 2018.
“Dubai is the airport of the world … and a new world in the aviation sector,” Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, said on X on Thursday.
Dubai Airports over the next 10 years will invest Dh128 billion ($34.8 billion) to “restructure the global aviation landscape with Emirati standards”, he said.
DXB recorded 300,000 flight movements, served 106 airline customers and operated flights to 272 cities in 107 countries last year, he added.
December was the airport's busiest month of last year, with 8.2 million passengers, the Dubai Media Office said.
Dubai welcomed nearly 17 million international visitors in the first 11 months of last year, the Dubai Department of Economy and Tourism's latest data shows. Western Europe was its top source market followed by South Asia and the Gulf countries, as the emirate continued to expand its tourism sector.
Emirates, the world's largest long-haul airline and the home carrier at DXB, said in November that it expects travel demand to “remain strong” for the rest of its 2024-2025 financial year, with plans to increase capacity and grow revenue as new aircraft join its fleet.
To accommodate future growth in passenger traffic, Dubai is also expanding its second hub, Al Maktoum International Airport (DWC), with a $35 billion terminal that will have a capacity of 260 million passengers a year once the final phase is completed. That airport currently has a capacity of 32.5 million passengers − handling mainly cargo and some low-cost airlines.
Dubai is pursuing a strategy to diversify its non-oil sector with a heavy focus on tourism, aviation, hospitality, technology and trade.
For the first half of last year, the emirate’s economy grew by 3.2 per cent to reach Dh231 billion, according to the latest available official data from the Dubai Media office in November.
Popular markets
Last year, India retained its position as DXB’s largest destination market, with 12 million passengers. Saudi Arabia recorded double-digit growth, with passenger numbers reaching 7.6 million.
Other top markets included the UK (6.2 million), Pakistan (4.5 million) and the US (3.5 million), while China recorded a 30.7 per cent year-on-year growth, driven by a surge in direct traffic.
London remained the top city destination, with 3.9 million passengers, followed by Riyadh (3.2 million), Mumbai (2.5 million), Jeddah (2.3 million) and New Delhi (2.2 million).
In terms of air freight, DXB handled 2.2 million tonnes of cargo throughout last year, an year-on-year increase of 20.5 per cent.
Outlook for DXB
Dubai Airports is “confident” about reaching the milestone of 100 million annual passengers by 2027, it said.
However, Paul Griffiths, chief executive of Dubai Airports, said on Thursday that the operator is likely to bring that forecast forward, predicting that DXB can reach the 100 million-mark in 2026.
“Because of the strong growth we've had and the fact that we've revised our forecast during the course of last year at least three times in the upward direction, that's giving us the confidence to suggest that we might end up reaching 100 million earlier,” Mr Griffiths said.
In 2025, DXB is expected to handle “94 million plus” passengers, as a continuing shortage of new aircraft risks constraining its growth, Mr Griffiths said.
“The uncertainty of delivery schedules and the hugely long lead times that both Boeing and Airbus have for their aircraft is having a big impact, exacerbated by the aircraft retirements that many airlines put in place during the Covid-19 pandemic,” he said.
“So many airlines are waiting for aircraft deliveries that are, in some cases, years behind schedule. That's why in 2025 we've got only a 1.7 million passenger increase in that number in our forecast. We don't believe that the supply of new aircraft will be in sufficient volume to fuel the growth that we would otherwise be able to facilitate if the aircraft were available.”
UAE airlines such as Emirates have joined a chorus of international carriers airing their frustration about continuing delays in aircraft deliveries that are costing them growth opportunities.
DWC airport terminal expansion
Meanwhile, the Dubai government is working on plans for the expansion of DWC with a new airport terminal to accommodate the anticipated growth in passenger numbers in the next decade.
The planned airport terminal expansion is still in the detailed design phase, with discussions under way with Emirates and flydubai, as well as construction companies, Mr Griffiths said.
“The aim is, by 2032, to have the airport pretty close to finishing and to have a capacity of 150 million on opening day,” he said. “We're working very closely with all the partners on this mega-project to ensure that we have timely delivery, because we cannot afford to constrain the growth of aviation here in Dubai, because that's a constraint on the growth of the economy, and both of those are absolute no-go areas.”
Asked if DXB's capacity will be able to stretch to accommodate increasing passenger traffic until the new DWC terminal is ready, Mr Griffiths said this is “clearly a challenge”.
However, there is a “safety valve” with the current passenger terminal in DWC to which some airlines can migrate their operations over the next few years, he said.
The biggest concern is to ensure that the road and railway network around DXB is able to cope with an increasing numbers of passengers, to ensure that the DWC expansion project is delivered on time and to maximise the growth at DXB, he added.
Fixtures
Tuesday - 5.15pm: Team Lebanon v Alger Corsaires; 8.30pm: Abu Dhabi Storms v Pharaohs
Wednesday - 5.15pm: Pharaohs v Carthage Eagles; 8.30pm: Alger Corsaires v Abu Dhabi Storms
Thursday - 4.30pm: Team Lebanon v Pharaohs; 7.30pm: Abu Dhabi Storms v Carthage Eagles
Friday - 4.30pm: Pharaohs v Alger Corsaires; 7.30pm: Carthage Eagles v Team Lebanon
Saturday - 4.30pm: Carthage Eagles v Alger Corsaires; 7.30pm: Abu Dhabi Storms v Team Lebanon
States of Passion by Nihad Sirees,
Pushkin Press
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.”
What vitamins do we know are beneficial for living in the UAE
Vitamin D: Highly relevant in the UAE due to limited sun exposure; supports bone health, immunity and mood.
Vitamin B12: Important for nerve health and energy production, especially for vegetarians, vegans and individuals with absorption issues.
Iron: Useful only when deficiency or anaemia is confirmed; helps reduce fatigue and support immunity.
Omega-3 (EPA/DHA): Supports heart health and reduces inflammation, especially for those who consume little fish.
Fixtures:
Wed Aug 29 – Malaysia v Hong Kong, Nepal v Oman, UAE v Singapore
Thu Aug 30 - UAE v Nepal, Hong Kong v Singapore, Malaysia v Oman
Sat Sep 1 - UAE v Hong Kong, Oman v Singapore, Malaysia v Nepal
Sun Sep 2 – Hong Kong v Oman, Malaysia v UAE, Nepal v Singapore
Tue Sep 4 - Malaysia v Singapore, UAE v Oman, Nepal v Hong Kong
Thu Sep 6 – Final
The five pillars of Islam
1. Fasting
2. Prayer
3. Hajj
4. Shahada
5. Zakat
More from Neighbourhood Watch:
Financial considerations before buying a property
Buyers should try to pay as much in cash as possible for a property, limiting the mortgage value to as little as they can afford. This means they not only pay less in interest but their monthly costs are also reduced. Ideally, the monthly mortgage payment should not exceed 20 per cent of the purchaser’s total household income, says Carol Glynn, founder of Conscious Finance Coaching.
“If it’s a rental property, plan for the property to have periods when it does not have a tenant. Ensure you have enough cash set aside to pay the mortgage and other costs during these periods, ideally at least six months,” she says.
Also, shop around for the best mortgage interest rate. Understand the terms and conditions, especially what happens after any introductory periods, Ms Glynn adds.
Using a good mortgage broker is worth the investment to obtain the best rate available for a buyer’s needs and circumstances. A good mortgage broker will help the buyer understand the terms and conditions of the mortgage and make the purchasing process efficient and easier.
How to get there
Emirates (www.emirates.com) flies directly to Hanoi, Vietnam, with fares starting from around Dh2,725 return, while Etihad (www.etihad.com) fares cost about Dh2,213 return with a stop. Chuong is 25 kilometres south of Hanoi.
Quick pearls of wisdom
Focus on gratitude: And do so deeply, he says. “Think of one to three things a day that you’re grateful for. It needs to be specific, too, don’t just say ‘air.’ Really think about it. If you’re grateful for, say, what your parents have done for you, that will motivate you to do more for the world.”
Know how to fight: Shetty married his wife, Radhi, three years ago (he met her in a meditation class before he went off and became a monk). He says they’ve had to learn to respect each other’s “fighting styles” – he’s a talk it-out-immediately person, while she needs space to think. “When you’re having an argument, remember, it’s not you against each other. It’s both of you against the problem. When you win, they lose. If you’re on a team you have to win together.”
Tuesday results:
- Singapore bt Malaysia by 29 runs
- UAE bt Oman by 13 runs
- Hong Kong bt Nepal by 3 wickets
Final:
Thursday, UAE v Hong Kong
Tips for entertaining with ease
· Set the table the night before. It’s a small job but it will make you feel more organised once done.
· As the host, your mood sets the tone. If people arrive to find you red-faced and harried, they’re not going to relax until you do. Take a deep breath and try to exude calm energy.
· Guests tend to turn up thirsty. Fill a big jug with iced water and lemon or lime slices and encourage people to help themselves.
· Have some background music on to help create a bit of ambience and fill any initial lulls in conversations.
· The meal certainly doesn’t need to be ready the moment your guests step through the door, but if there’s a nibble or two that can be passed around it will ward off hunger pangs and buy you a bit more time in the kitchen.
· You absolutely don’t have to make every element of the brunch from scratch. Take inspiration from our ideas for ready-made extras and by all means pick up a store-bought dessert.
The five pillars of Islam
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
BMW%20M4%20Competition
%3Cp%3E%3Cstrong%3EEngine%3A%20%3C%2Fstrong%3E3.0%20twin-turbo%20inline%20six-cylinder%0D%3Cbr%3E%3Cstrong%3ETransmission%3A%3C%2Fstrong%3E%20eight-speed%0D%3Cbr%3E%3Cstrong%3EPower%3A%20%3C%2Fstrong%3E503hp%0D%3Cbr%3E%3Cstrong%3ETorque%3A%3C%2Fstrong%3E%20600Nm%0D%3Cbr%3E%3Cstrong%3EPrice%3A%3C%2Fstrong%3E%20from%20Dh617%2C600%0D%3Cbr%3E%3Cstrong%3EOn%20sale%3A%3C%2Fstrong%3E%20Now%0D%3C%2Fp%3E%0A
Some of Darwish's last words
"They see their tomorrows slipping out of their reach. And though it seems to them that everything outside this reality is heaven, yet they do not want to go to that heaven. They stay, because they are afflicted with hope." - Mahmoud Darwish, to attendees of the Palestine Festival of Literature, 2008
His life in brief: Born in a village near Galilee, he lived in exile for most of his life and started writing poetry after high school. He was arrested several times by Israel for what were deemed to be inciteful poems. Most of his work focused on the love and yearning for his homeland, and he was regarded the Palestinian poet of resistance. Over the course of his life, he published more than 30 poetry collections and books of prose, with his work translated into more than 20 languages. Many of his poems were set to music by Arab composers, most significantly Marcel Khalife. Darwish died on August 9, 2008 after undergoing heart surgery in the United States. He was later buried in Ramallah where a shrine was erected in his honour.
Global state-owned investor ranking by size
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1.
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United States
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China
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UAE
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Japan
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5
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Norway
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Canada
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Singapore
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Australia
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Saudi Arabia
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South Korea
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