Emirates Holidays expects to expand its business by up to 25 per cent this year as Emirates Airline launches new routes.
Emirates Holidays is the tour arm of the airline group and specialises in luxury and customised getaways.
"Overall this year we're looking a 20 to 25 per cent growth in revenues and passenger numbers," said Frederic Bardin, the senior vice president at Emirates Holidays, the largest airline tour operator in the Middle East.
This is linked to Emirates Airline's growth, with the carrier launching service including to Ho Chi Minh City in Vietnam next month and between Dubai and Dulles International Airport near Washington in September.
"The capacity [increase] of Emirates this year in terms of seat kilometres available, which is how you measure an airline, is 20 per cent, with all the new aircraft coming," said Mr Bardin. "We hook on to the routes that Emirates opens, if it's a suitable holiday destination.
"We're putting a lot of emphasis this year on our traditional best-sellers. You're talking Europe - London, Paris, Munich, Italy. Malaysia and Thailand in Asia. But, also taking advantage of all the new destinations that Emirates has opened during the winter, which are most exciting holiday destinations. You're talking about Argentina, Denmark, Ireland - we've started flying to Dublin, which is a very good summer destination."
Emirates Holidays is also increasing the range of cheaper accommodation it has to offer.
"We are expanding our three- and four-star product range in terms of hotels," said Mr Bardin. "We've added a lot in this more budget range, without going mass market or anything. We want to generate more volume and we want to be able to satisfy the demand of travellers."
Data shows positive signs for global tourism after it was hit hard by the global economic crisis.
Last year, international tourism receipts exceeded US$1 trillion (Dh3.67tn) for the first time, up from $928 billion the previous year, data from the United Nations World Tourism Organization shows.
The Americas posted the largest increase in tourism receipts last year, up 5.7 per cent, followed by Europe, up 5.2 per cent.
Asia and the Pacific grew 4.3 per cent and Africa also rose 2.2 per cent. The Middle East was the only region to post a decline, with tourism receipts down 14 per cent.
A study on the travel habits of GCC nationals by Sunil Malhotra, a senior lecturer at the Emirates Aviation College, reveals that Qataris spend the most on travel with an average expenditure of US$4,100 (Dh15,060) per day, followed by travellers from Saudi Arabia, who spend an average of US$3,360, and the UAE, at US$3,280. GCC nationals spend 260 per cent more on airfares and 430 per cent more on accommodation than the world average, the study showed.
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The burning issue
The internal combustion engine is facing a watershed moment – major manufacturer Volvo is to stop producing petroleum-powered vehicles by 2021 and countries in Europe, including the UK, have vowed to ban their sale before 2040. The National takes a look at the story of one of the most successful technologies of the last 100 years and how it has impacted life in the UAE.
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Paatal Lok season two
Directors: Avinash Arun, Prosit Roy
Stars: Jaideep Ahlawat, Ishwak Singh, Lc Sekhose, Merenla Imsong
Rating: 4.5/5
All Black 39-12 British & Irish Lions
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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
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
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Rating: 4/5
Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
The specs: 2018 Jeep Grand Cherokee Trackhawk
Price, base: Dh399,999
Engine: Supercharged 6.2-litre V8
Gearbox: Eight-speed automatic
Power: 707hp @ 6,000rpm
Torque: 875Nm @ 4,800rpm
Fuel economy, combined: 16.8L / 100km (estimate)
The stats
Ship name: MSC Bellissima
Ship class: Meraviglia Class
Delivery date: February 27, 2019
Gross tonnage: 171,598 GT
Passenger capacity: 5,686
Crew members: 1,536
Number of cabins: 2,217
Length: 315.3 metres
Maximum speed: 22.7 knots (42kph)