Over the past five years, traffic at Dubai International Airport has increased by more than 65 per cent. Kamran Jebreili / AP Photo
Over the past five years, traffic at Dubai International Airport has increased by more than 65 per cent. Kamran Jebreili / AP Photo

Dubai International Airport passenger traffic dips in June, up in first half



Passenger numbers through Dubai International Airport, the world’s largest airport for international travel, dipped in June because of Ramadan but were up 5.8 per cent in the first half, Dubai Airports said.

June numbers were down about 1 per cent to 5.8 million compared to 5.9m a year earlier.

More than 40.5 million passengers travelled through Dubai International airport in the first half, up from 38.3 million in the year-earlier period.

“In July we have seen high volumes, particularly in connecting traffic as vacationers increasingly choose Dubai as an international hub, as well as being a popular destination itself,” said Paul Griffiths, the chief executive of Dubai Airports.

“We’ve had a record first half and the second half is underway with what could be a banner month thanks to the start of the holiday season in July and the week-long break for the Islamic festival of Eid Al Fitr.”

In the first half, top destinations, amounting to 38 per cent in terms of volume, were India with 14 per cent, followed by Saudi Arabia, the United Kingdom, Pakistan and the United States. More flights and freight shipments came through the airport, both up just under 4 per cent compared to last year.

Over the past five years, traffic at the airport has increased by more than 65 per cent from 47.1 million in 2010 to 78 million last year, according to the Airports Council International. The airport was the world’s third-busiest behind Atlanta, Georgia and Beijing, China, with about 78 million passengers. The airport is the world’s largest for international travel.

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There are many factors worrying investors right now and triggering a rush out of stock markets. Here are four of the biggest:

1. Rising US interest rates

The US Federal Reserve has increased interest rates three times this year in a bid to prevent its buoyant economy from overheating. They now stand at between 2 and 2.25 per cent and markets are pencilling in three more rises next year.

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Ritu Vohora, investment director at fund manager M&G, says markets fear that US President Donald Trump’s spat with China will escalate into a full-blown global trade war, with both sides suffering. “The US economy is robust enough to absorb higher input costs now, but this may not be the case as tariffs escalate. However, with a host of factors hitting investor sentiment, this is becoming a stock picker’s market.”

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