A Chinese tourist in Dubai. Razan Alzayani / The National
A Chinese tourist in Dubai. Razan Alzayani / The National
A Chinese tourist in Dubai. Razan Alzayani / The National
A Chinese tourist in Dubai. Razan Alzayani / The National

UAE expects Chinese tourism boost over next 12 months


Deena Kamel
  • English
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The UAE expects a greater influx of Chinese tourists within the next six to 12 months, after the Asian country loosened Covid-related travel restrictions, as airlines increase the number of international flights.

The number of visitors from China to the UAE could return to pre-pandemic levels by the next Chinese New Year, Helal Al Marri, director general of Dubai's Department of Economy and Tourism (DET), said on Thursday.

"The Chinese have started coming back ... we see them now in many exhibitions and conferences and the lanes have opened up again," he said, referring to a growing number of daily flights between the two countries.

"Until they get the whole aviation network from their country fully operational again, you're always going to have supply pressures, it's a not demand issue ... we're looking forward to Chinese New Year next year, hopefully by then [we should be] back up to the levels we were at pre-Covid."

China has consistently ranked among the top-five source markets for Dubai over the past decade. The number of Chinese visitors to the tourism and business hub reached 177,000 last year, up 131 per cent from 2021, DET data indicates. However, last year's levels were down 82 per cent from 2019, due to China's zero-covid policy, which has only recently been lifted its government.

In January, long-haul airline Emirates said it would increase its operations in China ahead of the Chinese New Year and in response to strong travel demand, boosting connectivity to Guangzhou, Shanghai and Beijing as the country reopened its borders and relaxed entry restrictions.

Similarly, Etihad Airways said it would add an additional weekly frequency on its Abu Dhabi-Shanghai route from February, running twice weekly flights to Pudong International Airport. It also started running non-stop flights between Abu Dhabi and Guangzhou in October.

Tourists from China take pictures while walking around Souk Al Bahar. Razan Alzayani / The National
Tourists from China take pictures while walking around Souk Al Bahar. Razan Alzayani / The National

"We expect visitor numbers from China to rebound sharply this year as Covid-19 restrictions have been eased and there is significant pent-up demand in this important market," Khatija Haque, head of research and chief economist and Jamal Mattar, research analyst at Emirates NBD, said in a research note last week.

India is Dubai's largest tourism source market, with Oman, Saudi Arabia, the UK and Russia rounding off the top five, according to DET data for last year.

Mr Al Marri added: "Dubai and the UAE have learnt quite a long time ago ... not to rely on specific countries and to really use the airlift that we have to develop a diversified strategy. We've managed to really keep tourism, from an economic perspective, extremely buoyant compared to the rest of the world."

Dubai hosted 14.36 million international visitors last year, almost double the 2021 total of 7.28 million, and only 14 per cent below the pre-pandemic levels of 16.73 million recorded in 2019, DET data showed.

How to protect yourself when air quality drops

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Close your windows and turn on the AC.

Shower or bath after being outside.

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  • Turkish tycoon Halis Torprak sold his mansion for £50m in 2008 after spending just two days there. The House of Saud sold 10 properties on the road in 2013 for almost £80m.
  • Other residents have included Iraqi businessman Nemir Kirdar, singer Ariana Grande, holiday camp impresario Sir Billy Butlin, businessman Asil Nadir, Paul McCartney’s former wife Heather Mills. 
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Cheat’s nigiri 
This is easier to make than sushi rolls. With damp hands, form the cooled rice into small tablet shapes. Place slices of fresh, raw salmon, mackerel or trout (or smoked salmon) lightly touched with wasabi, then press, wasabi side-down, onto the rice. Serve with soy sauce and pickled ginger.

Easy omurice
This fusion dish combines Asian fried rice with a western omelette. To make, fry cooked and cooled sushi rice with chopped vegetables such as carrot and onion and lashings of sweet-tangy ketchup, then wrap in a soft egg omelette.

Deconstructed sushi salad platter 
This makes a great, fuss-free sharing meal. Arrange sushi rice on a platter or board, then fill the space with all your favourite sushi ingredients (edamame beans, cooked prawns or tuna, tempura veggies, pickled ginger and chilli tofu), with a dressing or dipping sauce on the side.

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Profile of Whizkey

Date founded: 04 November 2017

Founders: Abdulaziz AlBlooshi and Harsh Hirani

Based: Dubai, UAE

Number of employees: 10

Sector: AI, software

Cashflow: Dh2.5 Million  

Funding stage: Series A

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.”

Who was Alfred Nobel?

The Nobel Prize was created by wealthy Swedish chemist and entrepreneur Alfred Nobel.

  • In his will he dictated that the bulk of his estate should be used to fund "prizes to those who, during the preceding year, have conferred the greatest benefit to humankind".
  • Nobel is best known as the inventor of dynamite, but also wrote poetry and drama and could speak Russian, French, English and German by the age of 17. The five original prize categories reflect the interests closest to his heart.
  • Nobel died in 1896 but it took until 1901, following a legal battle over his will, before the first prizes were awarded.
Updated: March 02, 2023, 4:39 PM