Sheikh Ahmed bin Mohammed, Second Deputy Ruler of Dubai, attended the Department of Economy and Tourism’s first “City Briefing” of 2023, the Dubai Government Media Office said in a statement on Thursday.
The industry gathering focused on the Dubai Economic Agenda D33 that was launched to consolidate Dubai's status as one of the top three global cities.
The briefing was attended by more than 1,200 executives from across the tourism ecosystem including the aviation, travel, hospitality and retail sectors.
“With great optimism for 2023 and beyond, we will press on with determination and a renewed focus on delivering exceptional experiences for our visitors from around the world,” said Helal Saeed Almarri, director general of the DET.
“The success of the D33 Agenda will be intricately linked to the wholehearted support of our valued stakeholders and partners.
“Their unwavering commitment and shared belief in our city's potential have propelled us forward, enabling us to overcome unprecedented challenges and transforming them into opportunities for growth in spite of a tough and highly competitive global environment.”
The tourism industry in Dubai, the commercial and leisure hub of the Middle East, started the year on a high note, with vital growth indicators closing in on pre-pandemic levels, which has given the emirate a head start in achieving its targets over the next decade.
Dubai welcomed 6.02 million international visitors from January-April, an 18 per cent annual increase, according to data cited by Dubai Media Office.
The emirate’s hotel sector witnessed an average occupancy of 80 per cent during the first four months of the year, surpassing the 76 per cent achieved by hotels during the same period last year and almost matching the pre-pandemic 83 per cent occupancy in 2019.
Under the D33 strategy, the emirate aims to double its gross domestic product to Dh800 billion by 2033.
Stakeholders and partners have pledged their support for the D33 agenda.
“It [Dubai] is a city with incredible appeal to everyone from around the world,” said Alexander Lee, chief commercial officer of Jumeirah Group.
“As a luxury hotel operator and owner of high-end residences across the city, Jumeirah Group continues to see rising demand for its products and services, both from traditional feeder markets but increasingly from new international markets, as Dubai advances its position as a leading global destination.”
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Squad for first two ODIs
Kohli (c), Rohit, Dhawan, Rayudu, Pandey, Dhoni (wk), Pant, Jadeja, Chahal, Kuldeep, Khaleel, Shami, Thakur, Rahul.
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
'The Woman in the House Across the Street from the Girl in the Window'
Director:Michael Lehmann
Stars:Kristen Bell
Rating: 1/5
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Cast: Loujain Adada, Zeina Khoury, Farhana Bodi, Ebraheem Al Samadi, Mona Kattan, and couples Safa & Fahad Siddiqui and DJ Bliss & Danya Mohammed
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Directed by: Shari Springer Berman, Robert Pulcini
Starring: Amanda Seyfried, James Norton
2/5
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The specs: 2019 Infiniti QX50
Price, base: Dh138,000 (estimate)
Engine: 2.0L, turbocharged, in-line four-cylinder
Transmission: Continuously variable transmission
Power: 268hp @ 5,600rpm
Torque: 380Nm @ 4,400rpm
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How to invest in gold
Investors can tap into the gold price by purchasing physical jewellery, coins and even gold bars, but these need to be stored safely and possibly insured.
A cheaper and more straightforward way to benefit from gold price growth is to buy an exchange-traded fund (ETF).
Most advisers suggest sticking to “physical” ETFs. These hold actual gold bullion, bars and coins in a vault on investors’ behalf. Others do not hold gold but use derivatives to track the price instead, adding an extra layer of risk. The two biggest physical gold ETFs are SPDR Gold Trust and iShares Gold Trust.
Another way to invest in gold’s success is to buy gold mining stocks, but Mr Gravier says this brings added risks and can be more volatile. “They have a serious downside potential should the price consolidate.”
Mr Kyprianou says gold and gold miners are two different asset classes. “One is a commodity and the other is a company stock, which means they behave differently.”
Mining companies are a business, susceptible to other market forces, such as worker availability, health and safety, strikes, debt levels, and so on. “These have nothing to do with gold at all. It means that some companies will survive, others won’t.”
By contrast, when gold is mined, it just sits in a vault. “It doesn’t even rust, which means it retains its value,” Mr Kyprianou says.
You may already have exposure to gold miners in your portfolio, say, through an international ETF or actively managed mutual fund.
You could spread this risk with an actively managed fund that invests in a spread of gold miners, with the best known being BlackRock Gold & General. It is up an incredible 55 per cent over the past year, and 240 per cent over five years. As always, past performance is no guide to the future.
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The specs
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Power: 261hp at 5,500rpm
Torque: 405Nm at 1,750-3,500rpm
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Sector: FinTech
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