Dubai’s tourism and hospitality sectors are benefiting from a rapid rebound driven by a multi-phase roadmap executed by the DET. Photo: Dubai Media Office.
Dubai’s tourism and hospitality sectors are benefiting from a rapid rebound driven by a multi-phase roadmap executed by the DET. Photo: Dubai Media Office.
Dubai’s tourism and hospitality sectors are benefiting from a rapid rebound driven by a multi-phase roadmap executed by the DET. Photo: Dubai Media Office.
Dubai’s tourism and hospitality sectors are benefiting from a rapid rebound driven by a multi-phase roadmap executed by the DET. Photo: Dubai Media Office.

Record international visitors to Dubai exceed pre-pandemic level in first half


Sarmad Khan
  • English
  • Arabic

The number of the international visitors to Dubai exceeded the pre-pandemic level in the first half of this year as the emirate's hospitality and tourism sector posted a record performance.

International visits to Dubai, the commercial and leisure hub of the Middle East, rose 20 per cent on an annual basis during the first half of the year, the Dubai Media office said on Sunday, quoting the latest data from the Dubai’s Department of Economy and Tourism (DET).

The emirate said there were 8.55 million international visitors in the January-to-June period this year, the best first-half performance yet, exceeding the pre-pandemic figure of 8.36 million tourists in the first half of 2019.

“The remarkable surge in international visitors witnessed by Dubai in the first half of 2023 further demonstrates its emergence as one of the brightest spots, not only in the worldwide tourism sector, but also the broader global economic landscape,” Sheikh Hamdan bin Mohammed, Crown Prince of Dubai, said.

The sharp annual increase in international visitors contributes to the goal of the Dubai Economic Agenda 2033 that aims to consolidate the emirate’s position as one of the world’s top three cities.

“The record first-half performance reflects the successful and diverse citywide drive to market the destination, with the unwavering support of stakeholders and partners,” the media office said.

Data reaffirms Dubai’s position as the world's fastest recovering destination, and far exceeds the projection made by the UN and the World Trade Organisation that estimated international tourist arrivals of between 80 per cent to 95 per cent of pre-pandemic levels this year.

“While the growth of international visitation reinforces Dubai’s rise as a major global tourism destination, it also signifies its status as a pivotal hub for trade, investment and enterprise,” Sheikh Hamdan, who is also the Chairman of The Executive Council of Dubai, said.

“The Dubai Economic Agenda D33 … has outlined an ambitious new trajectory for the city to further consolidate its status as one of the world’s top urban economies and tourism destinations. As a major pillar of Dubai’s economy, the tourism sector will continue to play a key role in realising its future aspirations.”

Dubai's economy, which has bounced back strongly from the pandemic driven slowdown, is estimated to have grown 5 per cent last year and is forecast to increase by 3.5 per cent in 2023, according to Emirates NBD.

The emirate's economy expanded by 4.6 per cent on an annual basis in the first nine months of 2022, data from the Dubai Statistics Centre shows.

Business activity in Dubai's non-oil private sector economy also rose to a 10-month high in June, boosted by a sharp rise in sales and new orders as demand growth quickened.

The emirate's seasonally adjusted S&P Global purchasing managers' index reading rose to 56.9 in June, from 55.3 in May, marking the strongest overall improvement in operating conditions in the non-oil sector since August 2022.

Dubai International Airport has also increased its annual passenger forecast for this year after hitting 95.6 per cent of its pre-pandemic levels of traffic in the first quarter of 2023.

The airport handled 21.2 million passengers during the first three months of the year, up 55.8 per cent from the first quarter of 2022.

The surge in international visitors demonstrates Dubai's emergence as one of the brightest spots, not only in the worldwide tourism sector, but also the broader global economic landscape, Sheikh Hamdan says. Wam
The surge in international visitors demonstrates Dubai's emergence as one of the brightest spots, not only in the worldwide tourism sector, but also the broader global economic landscape, Sheikh Hamdan says. Wam

The latest data showed visitors from western Europe were the biggest contributor to tourism arrivals, making up 20 per cent of the total international guests, while the GCC and Mena regions delivered a combined 28 per cent of the regional share.

South Asia accounted for a 17 per cent share of the total, and Russia, Central Asian States, and eastern Europe combined contributed 14 per cent. North and South-east Asia contributed 8 per cent, while the Americas, Africa and Australasia contributed 7 per cent, 4 per cent and 2 per cent, respectively, according to the DET data.

Hotels in the emirate also outperformed pre-pandemic levels across all hospitality measures in the first half of this year, including occupancy, average daily rate (ADR), revenue per available room (RevPAR) and length of stay.

At 78 per cent, Dubai hotels’ average occupancy was 2.2 percentage points higher than the occupancy achieved before the pandemic.

The number of hotel establishments grew by the 13 per cent to 810, while room capacity rose by 26 per cent to 148,689 compared with the same period in 2019.

The ADR of Dh534 during the first six months of the year surpassed the ADR of first half of 2019 at Dh444, while RevPar of Dh415 was a 24 per cent increase compared to the first six months of the pre-pandemic period, according to the DET data.

“This significant uplift in visitation, which surpasses both pre-pandemic levels and marks a record for Dubai’s tourism sector, is the result of a highly co-ordinated, sustainable and robust strategy, that is underpinned by a strong execution mandate,” Helal Almarri, director general of DET, said.

“These results further add weight to the depth, scale and resilience of Dubai’s tourism ecosystem, both domestically and across the world.”

UK-EU trade at a glance

EU fishing vessels guaranteed access to UK waters for 12 years

Co-operation on security initiatives and procurement of defence products

Youth experience scheme to work, study or volunteer in UK and EU countries

Smoother border management with use of e-gates

Cutting red tape on import and export of food

Honeymoonish
%3Cp%3E%3Cstrong%3EDirector%3A%3C%2Fstrong%3E%20Elie%20El%20Samaan%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStarring%3A%20%3C%2Fstrong%3ENour%20Al%20Ghandour%2C%20Mahmoud%20Boushahri%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%203%2F5%3C%2Fp%3E%0A
Lexus LX700h specs

Engine: 3.4-litre twin-turbo V6 plus supplementary electric motor

Power: 464hp at 5,200rpm

Torque: 790Nm from 2,000-3,600rpm

Transmission: 10-speed auto

Fuel consumption: 11.7L/100km

On sale: Now

Price: From Dh590,000

The specs

Engine: 2.0-litre 4-cyl turbo

Power: 247hp at 6,500rpm

Torque: 370Nm from 1,500-3,500rpm

Transmission: 10-speed auto

Fuel consumption: 7.8L/100km

Price: from Dh94,900

On sale: now

The specs
Engine: 3.0-litre twin-turbo flat-six

Power: 480hp at 6,500rpm

Torque: 570Nm from 2,300-5,000rpm

Transmission: 8-speed dual-clutch auto

Fuel consumption: 10.4L/100km

Price: from Dh547,600

On sale: now 

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.
MATCH INFO

Europa League final

Who: Marseille v Atletico Madrid
Where: Parc OL, Lyon, France
When: Wednesday, 10.45pm kick off (UAE)
TV: BeIN Sports

THE BIO

Age: 30

Favourite book: The Power of Habit

Favourite quote: "The world is full of good people, if you cannot find one, be one"

Favourite exercise: The snatch

Favourite colour: Blue

Seven tips from Emirates NBD

1. Never respond to e-mails, calls or messages asking for account, card or internet banking details

2. Never store a card PIN (personal identification number) in your mobile or in your wallet

3. Ensure online shopping websites are secure and verified before providing card details

4. Change passwords periodically as a precautionary measure

5. Never share authentication data such as passwords, card PINs and OTPs  (one-time passwords) with third parties

6. Track bank notifications regarding transaction discrepancies

7. Report lost or stolen debit and credit cards immediately

%20Ramez%20Gab%20Min%20El%20Akher
%3Cp%3E%3Cstrong%3ECreator%3A%3C%2Fstrong%3E%20Ramez%20Galal%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStarring%3A%3C%2Fstrong%3E%20Ramez%20Galal%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStreaming%20on%3A%20%3C%2Fstrong%3EMBC%20Shahid%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%20%3C%2Fstrong%3E2.5%2F5%3C%2Fp%3E%0A
Timeline

1947
Ferrari’s road-car company is formed and its first badged car, the 125 S, rolls off the assembly line

1962
250 GTO is unveiled

1969
Fiat becomes a Ferrari shareholder, acquiring 50 per cent of the company

1972
The Fiorano circuit, Ferrari’s racetrack for development and testing, opens

1976
First automatic Ferrari, the 400 Automatic, is made

1987
F40 launched

1988
Enzo Ferrari dies; Fiat expands its stake in the company to 90 per cent

2002
The Enzo model is announced

2010
Ferrari World opens in Abu Dhabi

2011
First four-wheel drive Ferrari, the FF, is unveiled

2013
LaFerrari, the first Ferrari hybrid, arrives

2014
Fiat Chrysler announces the split of Ferrari from the parent company

2015
Ferrari launches on Wall Street

2017
812 Superfast unveiled; Ferrari celebrates its 70th anniversary

Four-day collections of TOH

Day             Indian Rs (Dh)        

Thursday    500.75 million (25.23m)

Friday         280.25m (14.12m)

Saturday     220.75m (11.21m)

Sunday       170.25m (8.58m)

Total            1.19bn (59.15m)

(Figures in millions, approximate)

THE CLOWN OF GAZA

Director: Abdulrahman Sabbah 

Starring: Alaa Meqdad

Rating: 4/5

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.”

Real estate tokenisation project

Dubai launched the pilot phase of its real estate tokenisation project last month.

The initiative focuses on converting real estate assets into digital tokens recorded on blockchain technology and helps in streamlining the process of buying, selling and investing, the Dubai Land Department said.

Dubai’s real estate tokenisation market is projected to reach Dh60 billion ($16.33 billion) by 2033, representing 7 per cent of the emirate’s total property transactions, according to the DLD.

THE SPECS

Engine: 3.6-litre V6

Transmission: eight-speed automatic

Power: 285bhp

Torque: 353Nm

Price: TBA

On sale: Q2, 2020

'The worst thing you can eat'

Trans fat is typically found in fried and baked goods, but you may be consuming more than you think.

Powdered coffee creamer, microwave popcorn and virtually anything processed with a crust is likely to contain it, as this guide from Mayo Clinic outlines: 

Baked goods - Most cakes, cookies, pie crusts and crackers contain shortening, which is usually made from partially hydrogenated vegetable oil. Ready-made frosting is another source of trans fat.

Snacks - Potato, corn and tortilla chips often contain trans fat. And while popcorn can be a healthy snack, many types of packaged or microwave popcorn use trans fat to help cook or flavour the popcorn.

Fried food - Foods that require deep frying — french fries, doughnuts and fried chicken — can contain trans fat from the oil used in the cooking process.

Refrigerator dough - Products such as canned biscuits and cinnamon rolls often contain trans fat, as do frozen pizza crusts.

Creamer and margarine - Nondairy coffee creamer and stick margarines also may contain partially hydrogenated vegetable oils.

Brief scores:

Toss: Nepal, chose to field

UAE 153-6: Shaiman (59), Usman (30); Regmi 2-23

Nepal 132-7: Jora 53 not out; Zahoor 2-17

Result: UAE won by 21 runs

Series: UAE lead 1-0

New UK refugee system

 

  • A new “core protection” for refugees moving from permanent to a more basic, temporary protection
  • Shortened leave to remain - refugees will receive 30 months instead of five years
  • A longer path to settlement with no indefinite settled status until a refugee has spent 20 years in Britain
  • To encourage refugees to integrate the government will encourage them to out of the core protection route wherever possible.
  • Under core protection there will be no automatic right to family reunion
  • Refugees will have a reduced right to public funds
Porsche Taycan Turbo specs

Engine: Two permanent-magnet synchronous AC motors

Transmission: two-speed

Power: 671hp

Torque: 1050Nm

Range: 450km

Price: Dh601,800

On sale: now

The biog

Favourite book: Men are from Mars Women are from Venus

Favourite travel destination: Ooty, a hill station in South India

Hobbies: Cooking. Biryani, pepper crab are her signature dishes

Favourite place in UAE: Marjan Island

Updated: August 07, 2023, 5:44 AM