Hotels in the UAE recorded a 24 per cent annual increase in revenues to Dh26 billion ($7.1 billion) in the first seven months of the year during a rebound by the country’s tourism sector, state news agency Wam reported, quoting the Minister of Economy.
The hotels hosted 16 million guests in that time, growth of more than 15 per cent compared with the same period in 2022, according to Abdulla bin Touq, who is also head of the Emirates Tourism Council.
A total of 56 million hotel nights were booked, while the occupancy rate increased by 5 per cent annually to 75 per cent from January to July, he said during a meeting of the Council.
The minister added that the number of hotels in the UAE reached 1,224.
“These indexes contribute to increase the UAE’s competitiveness in the international tourism landscape and fulfil the national target of raising the tourism sector’s contribution to the gross domestic product to Dh450 billion by the next decade under the We The UAE 2031 vision,” Mr bin Touq said.
The travel and tourism sector is projected to contribute Dh180.6 billion to the UAE’s economy this year, representing nearly 10 per cent of the total, the World Travel and Tourism Council said in a May report.
The estimate for 2023 is only 1.6 per cent lower than the 2019 high of Dh183.4 billion, the global tourism body said.
Last year, the travel and tourism sector’s contribution to the UAE’s GDP grew by more than 60 per cent to reach nearly Dh167 billion, representing 9 per cent of the country’s economy, the WTTC said.
The number of international visitors to Dubai exceeded pre-coronavirus levels in the first half of this year as the emirate's hospitality and tourism sector posted a record performance.
International visits to Dubai rose 20 per cent on an annual basis in the January to June period, the Dubai Media Office said in August, citing data from Dubai’s Department of Economy and Tourism.
The emirate welcomed 8.55 million international visitors during the period, the best first-half performance yet, exceeding the pre-pandemic figure of 8.36 million tourists in the first half of 2019.
Abu Dhabi aims to attract more visitors and is “on track” to meet its target of 24 million visitors this year, up from 18 million last year, Saood Al Hosani, undersecretary of the emirate's Department of Culture and Tourism, told The National in June.
The UAE capital plans to increase the tourism sector's contribution to its GDP to 12 per cent by 2030, up from 5 per cent this year, he said at the time.
Dubai tourist attractions - in pictures
The Emirates Tourism Council discussed a range of topics, including the latest developments in the implementation of the National Tourism Strategy 2031, and mechanisms for enhancing co-operation between the government and private sector to achieve its goals, Wam reported.
The strategy was launched last November and aims to attract 40 million hotel guests by 2031 and Dh100 billion in tourism investment to the UAE.
It should push the tourism sector’s contribution to GDP to Dh450 billion by 2031, increasing each year by Dh27 billion, Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, said at the time.
The strategy includes 25 initiatives and policies to support the development of the tourism sector in the country.
It is based on strengthening the national tourism identity, developing and diversifying specialised products, building capabilities, encouraging Emiratis to become involved in the sector, and increasing investments.
The strategy will also encourage investment in travel, aviation and hospitality, create new investment opportunities, and attract more international companies to the local market.
The Emirates Tourism Council also reviewed the world’s coolest winter campaign, the UAE’s first federal domestic tourism initiative, according to Wam.
The campaign helped hotels achieve a 20 per cent annual increase in revenues to Dh1.8 billion, compared with Dh1.5 billion the winter before.
In the current campaign, the number of domestic tourists increased to 1.4 million, an increase of 8 per cent over last time.
The council’s meeting also recorded the formation of a hospitality advisory committee, which aims to stimulate growth, increase competitiveness and make the sector more diversified in line with international best practice, Mr bin Touq said.
The committee will also seek to improve the UAE’s appeal for tourism investments, create tourism initiatives, and encourage communication with private sector institutions and companies operating in the hospitality sector, Wam reported.
Timeline
2012-2015
The company offers payments/bribes to win key contracts in the Middle East
May 2017
The UK SFO officially opens investigation into Petrofac’s use of agents, corruption, and potential bribery to secure contracts
September 2021
Petrofac pleads guilty to seven counts of failing to prevent bribery under the UK Bribery Act
October 2021
Court fines Petrofac £77 million for bribery. Former executive receives a two-year suspended sentence
December 2024
Petrofac enters into comprehensive restructuring to strengthen the financial position of the group
May 2025
The High Court of England and Wales approves the company’s restructuring plan
July 2025
The Court of Appeal issues a judgment challenging parts of the restructuring plan
August 2025
Petrofac issues a business update to execute the restructuring and confirms it will appeal the Court of Appeal decision
October 2025
Petrofac loses a major TenneT offshore wind contract worth €13 billion. Holding company files for administration in the UK. Petrofac delisted from the London Stock Exchange
November 2025
180 Petrofac employees laid off in the UAE
Ten tax points to be aware of in 2026
1. Domestic VAT refund amendments: request your refund within five years
If a business does not apply for the refund on time, they lose their credit.
2. E-invoicing in the UAE
Businesses should continue preparing for the implementation of e-invoicing in the UAE, with 2026 a preparation and transition period ahead of phased mandatory adoption.
3. More tax audits
Tax authorities are increasingly using data already available across multiple filings to identify audit risks.
4. More beneficial VAT and excise tax penalty regime
Tax disputes are expected to become more frequent and more structured, with clearer administrative objection and appeal processes. The UAE has adopted a new penalty regime for VAT and excise disputes, which now mirrors the penalty regime for corporate tax.
5. Greater emphasis on statutory audit
There is a greater need for the accuracy of financial statements. The International Financial Reporting Standards standards need to be strictly adhered to and, as a result, the quality of the audits will need to increase.
6. Further transfer pricing enforcement
Transfer pricing enforcement, which refers to the practice of establishing prices for internal transactions between related entities, is expected to broaden in scope. The UAE will shortly open the possibility to negotiate advance pricing agreements, or essentially rulings for transfer pricing purposes.
7. Limited time periods for audits
Recent amendments also introduce a default five-year limitation period for tax audits and assessments, subject to specific statutory exceptions. While the standard audit and assessment period is five years, this may be extended to up to 15 years in cases involving fraud or tax evasion.
8. Pillar 2 implementation
Many multinational groups will begin to feel the practical effect of the Domestic Minimum Top-Up Tax (DMTT), the UAE's implementation of the OECD’s global minimum tax under Pillar 2. While the rules apply for financial years starting on or after January 1, 2025, it is 2026 that marks the transition to an operational phase.
9. Reduced compliance obligations for imported goods and services
Businesses that apply the reverse-charge mechanism for VAT purposes in the UAE may benefit from reduced compliance obligations.
10. Substance and CbC reporting focus
Tax authorities are expected to continue strengthening the enforcement of economic substance and Country-by-Country (CbC) reporting frameworks. In the UAE, these regimes are increasingly being used as risk-assessment tools, providing tax authorities with a comprehensive view of multinational groups’ global footprints and enabling them to assess whether profits are aligned with real economic activity.
Contributed by Thomas Vanhee and Hend Rashwan, Aurifer
How to wear a kandura
Dos
- Wear the right fabric for the right season and occasion
- Always ask for the dress code if you don’t know
- Wear a white kandura, white ghutra / shemagh (headwear) and black shoes for work
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Don’ts
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- Buy a kandura only based on how it feels; ask questions about the fabric and understand what you are buying
What are the main cyber security threats?
Cyber crime - This includes fraud, impersonation, scams and deepfake technology, tactics that are increasingly targeting infrastructure and exploiting human vulnerabilities.
Cyber terrorism - Social media platforms are used to spread radical ideologies, misinformation and disinformation, often with the aim of disrupting critical infrastructure such as power grids.
Cyber warfare - Shaped by geopolitical tension, hostile actors seek to infiltrate and compromise national infrastructure, using one country’s systems as a springboard to launch attacks on others.
Killing of Qassem Suleimani
Tamkeen's offering
- Option 1: 70% in year 1, 50% in year 2, 30% in year 3
- Option 2: 50% across three years
- Option 3: 30% across five years
The National Archives, Abu Dhabi
Founded over 50 years ago, the National Archives collects valuable historical material relating to the UAE, and is the oldest and richest archive relating to the Arabian Gulf.
Much of the material can be viewed on line at the Arabian Gulf Digital Archive - https://www.agda.ae/en
South and West: From a Notebook
Joan Didion
Fourth Estate
UAE currency: the story behind the money in your pockets
Greatest Royal Rumble results
John Cena pinned Triple H in a singles match
Cedric Alexander retained the WWE Cruiserweight title against Kalisto
Matt Hardy and Bray Wyatt win the Raw Tag Team titles against Cesaro and Sheamus
Jeff Hardy retained the United States title against Jinder Mahal
Bludgeon Brothers retain the SmackDown Tag Team titles against the Usos
Seth Rollins retains the Intercontinental title against The Miz, Finn Balor and Samoa Joe
AJ Styles remains WWE World Heavyweight champion after he and Shinsuke Nakamura are both counted out
The Undertaker beats Rusev in a casket match
Brock Lesnar retains the WWE Universal title against Roman Reigns in a steel cage match
Braun Strowman won the 50-man Royal Rumble by eliminating Big Cass last
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Sole survivors
- Cecelia Crocker was on board Northwest Airlines Flight 255 in 1987 when it crashed in Detroit, killing 154 people, including her parents and brother. The plane had hit a light pole on take off
- George Lamson Jr, from Minnesota, was on a Galaxy Airlines flight that crashed in Reno in 1985, killing 68 people. His entire seat was launched out of the plane
- Bahia Bakari, then 12, survived when a Yemenia Airways flight crashed near the Comoros in 2009, killing 152. She was found clinging to wreckage after floating in the ocean for 13 hours.
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What is tokenisation?
Tokenisation refers to the issuance of a blockchain token, which represents a virtually tradable real, tangible asset. A tokenised asset is easily transferable, offers good liquidity, returns and is easily traded on the secondary markets.
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