Dubai has a robust sports infrastructure, including a cricket stadium and other sporting centres. Mike Young / The National
Dubai has a robust sports infrastructure, including a cricket stadium and other sporting centres. Mike Young / The National
Dubai has a robust sports infrastructure, including a cricket stadium and other sporting centres. Mike Young / The National
Dubai has a robust sports infrastructure, including a cricket stadium and other sporting centres. Mike Young / The National

Sport contributes $1bn annually to Dubai’s economy


Fareed Rahman
  • English
  • Arabic

The sports sector contributes Dh4 billion ($1.08bn) a year to the economy of Dubai, which hosts a number of national and international events and attracts visitors from around the world, according to the emirate's media office.

Sheikh Mansoor bin Mohammed, Chairman of Dubai Sports Council, said the sector's contribution to the national and local economy continues to grow as the emirate attracts investment and creates more jobs.

Currently, there are more than 20,000 people employed in Dubai’s sports sector, the statement said.

“The growth has come as a result of the Dubai community’s notable growing interest to participate in sports activities over the years and an increase in the number of national and international sporting events being hosted in Dubai,” Dubai Media Office said on Tuesday.

The emirate's advanced sports infrastructure, which includes dedicated cycling and running tracks, and the rise in the number of sports academies and fitness centres have played a crucial role in the growth of the sector, the media office said.

Dubai, the commercial and trading centre of the Middle East, has hosted more than 70 training camps and friendly matches for international teams in disciplines such as swimming, modern pentathlon, cycling, tennis, football, badminton, cricket, rugby and golf since the beginning of 2021.

Several Asian and European football clubs have also had their camps in Dubai in the past eight months, alongside a number of tennis and paddle players, who have regularly come to the emirate to prepare for events.

Many participants in the Tokyo Olympic and Paralympic Games, including the Olympic men’s badminton champion, Denmark’s Viktor Axelsen, have used training facilities in the emirate to prepare for international championships.

Dubai has also hosted the Indian Premier League, the popular cricket tournament which was moved to the UAE this year after a severe wave of Covid-19 infections disrupted the games in India earlier this year.

The emirate will also host the T20 cricket world cup in the next few months.

“Dubai’s favourable legislations, world-class facilities for tourists and visitors and the emirate’s … response to the Covid-19 pandemic have enabled the emirate to firmly place itself as a preferred destination for international sports investors,” Dubai Media Office said.

The UAE city has registered a recovery in important economic sectors such as tourism and property over the past few months after the Covid-19 health crisis disrupted growth around the world.

The Dubai government has unveiled stimulus packages worth Dh7.1bn since the onset of Covid-19 to support the economy, businesses and people.

The emirate's economy is expected to grow 4 per cent this year, according to government projections released in December.

There are also five factories that manufacture sports equipment and sportswear in Dubai, and more than 2,500 outlets that sell training equipment and merchandise.

The emirate also has more than 350 registered companies that organise various sports events and training camps, according to the Dubai Media office.


Company%C2%A0profile
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Red flags
  • Promises of high, fixed or 'guaranteed' returns.
  • Unregulated structured products or complex investments often used to bypass traditional safeguards.
  • Lack of clear information, vague language, no access to audited financials.
  • Overseas companies targeting investors in other jurisdictions - this can make legal recovery difficult.
  • Hard-selling tactics - creating urgency, offering 'exclusive' deals.

Courtesy: Carol Glynn, founder of Conscious Finance Coaching

MATCH INFO

Manchester United 6 (McTominay 2', 3'; Fernandes 20', 70' pen; Lindelof 37'; James 65')

Leeds United 2 (Cooper 41'; Dallas 73')

Man of the match: Scott McTominay (Manchester United)

What is the definition of an SME?

SMEs in the UAE are defined by the number of employees, annual turnover and sector. For example, a “small company” in the services industry has six to 50 employees with a turnover of more than Dh2 million up to Dh20m, while in the manufacturing industry the requirements are 10 to 100 employees with a turnover of more than Dh3m up to Dh50m, according to Dubai SME, an agency of the Department of Economic Development.

A “medium-sized company” can either have staff of 51 to 200 employees or 101 to 250 employees, and a turnover less than or equal to Dh200m or Dh250m, again depending on whether the business is in the trading, manufacturing or services sectors. 

Mobile phone packages comparison
SPECS
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Tips to keep your car cool
  • Place a sun reflector in your windshield when not driving
  • Park in shaded or covered areas
  • Add tint to windows
  • Wrap your car to change the exterior colour
  • Pick light interiors - choose colours such as beige and cream for seats and dashboard furniture
  • Avoid leather interiors as these absorb more heat
Tips for newlyweds to better manage finances

All couples are unique and have to create a financial blueprint that is most suitable for their relationship, says Vijay Valecha, chief investment officer at Century Financial. He offers his top five tips for couples to better manage their finances.

Discuss your assets and debts: When married, it’s important to understand each other’s personal financial situation. It’s necessary to know upfront what each party brings to the table, as debts and assets affect spending habits and joint loan qualifications. Discussing all aspects of their finances as a couple prevents anyone from being blindsided later.

Decide on the financial/saving goals: Spouses should independently list their top goals and share their lists with one another to shape a joint plan. Writing down clear goals will help them determine how much to save each month, how much to put aside for short-term goals, and how they will reach their long-term financial goals.

Set a budget: A budget can keep the couple be mindful of their income and expenses. With a monthly budget, couples will know exactly how much they can spend in a category each month, how much they have to work with and what spending areas need to be evaluated.

Decide who manages what: When it comes to handling finances, it’s a good idea to decide who manages what. For example, one person might take on the day-to-day bills, while the other tackles long-term investments and retirement plans.

Money date nights: Talking about money should be a healthy, ongoing conversation and couples should not wait for something to go wrong. They should set time aside every month to talk about future financial decisions and see the progress they’ve made together towards accomplishing their goals.

EXPATS
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WHAT IS A BLACK HOLE?

1. Black holes are objects whose gravity is so strong not even light can escape their pull

2. They can be created when massive stars collapse under their own weight

3. Large black holes can also be formed when smaller ones collide and merge

4. The biggest black holes lurk at the centre of many galaxies, including our own

5. Astronomers believe that when the universe was very young, black holes affected how galaxies formed

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.

Director: Laxman Utekar

Cast: Vicky Kaushal, Akshaye Khanna, Diana Penty, Vineet Kumar Singh, Rashmika Mandanna

Rating: 1/5

Updated: August 31, 2021, 1:24 PM