The Seychelles Tourism Board predicts a 10 per cent increase in the number of UAE visitors to the archipelago this year.
“Last year, 232,000 tourists visited Seychelles – of which 13,000 were from the UAE and 18,000 were from the Middle East,” says Sherin Naiken, the chief executive of the Seychelles Tourism Board. “We predict a 10 per cent increase in the number of UAE tourists to Seychelles this year.”
According to TRI Consulting Middle East, the Seychelles had about 30 major hotel developments in the country in 2014. This is in addition to smaller guest houses.
During the fourth quarter of last year, licensed accommodations in the Seychelles sold 242,819 room nights, reflecting a 58 per cent occupancy rate.
Ms Naiken says that the cancellation of the Emirates Group $253 million hotel project in the Seychelles will not affect UAE investments in the country.
In February, the Seychelles president James Michel announced in a state of the nation address that the project would not go ahead because of “environmental reasons”, after the hotel faced criticism from local citizens and politicians because of its size and its proposed location, close to a marine park in Seychelles main island Mahé.
Last November, Emirates had proposed to downscale the size of the project to 100 rooms instead of 400, but the project still faced opposition owing to potential damage to some marine species in the area. Emirates Group had initially started the Cap Ternay Resort project in 2007, but the recession meant it had to put the project on hold. It only resumed a year ago, which is when the environmental impact assessment started.
“I don’t foresee it affecting the UAE investment in Seychelles, because of the good relationship that the two countries have on a bilateral level,” says Ms Naiken.
“It happens from time to time that some projects don’t go through because of the environmental reports,” she added.
Emirates declined to comment.
The UAE investment in the Seychelles includes stakes in hotels such as The Four Seasons and Kempinski. H-Hotel is also planning a development, according to Ms Naiken.
Peter Goddard, managing director of TRI Middle East, said much of the UAE’s investments in the Seychelles tourism sector are land acquisitions and acquisitions of existing hotels.
“Some of the hotels and resorts in Seychelles have the highest rates of occupancy in the world. As a consequence, they can be very profitable,” he says.
selgazzar@thenational.ae
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Emirates launched a new daily service to Mexico City this week, flying via Barcelona from Dh3,995.
Emirati citizens are among 67 nationalities who do not require a visa to Mexico. Entry is granted on arrival for stays of up to 180 days.
RACE CARD
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5.45pm Burj Nahaar – Group 3 (TB) $228,000 (D) 1,600m
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The bio
Who inspires you?
I am in awe of the remarkable women in the Arab region, both big and small, pushing boundaries and becoming role models for generations. Emily Nasrallah was a writer, journalist, teacher and women’s rights activist
How do you relax?
Yoga relaxes me and helps me relieve tension, especially now when we’re practically chained to laptops and desks. I enjoy learning more about music and the history of famous music bands and genres.
What is favourite book?
The Perks of Being a Wallflower - I think I've read it more than 7 times
What is your favourite Arabic film?
Hala2 Lawen (Translation: Where Do We Go Now?) by Nadine Labaki
What is favourite English film?
Mamma Mia
Best piece of advice to someone looking for a career at Google?
If you’re interested in a career at Google, deep dive into the different career paths and pinpoint the space you want to join. When you know your space, you’re likely to identify the skills you need to develop.
Learn more about Qasr Al Hosn
In 2013, The National's History Project went beyond the walls to see what life was like living in Abu Dhabi's fabled fort:
What are NFTs?
Are non-fungible tokens a currency, asset, or a licensing instrument? Arnab Das, global market strategist EMEA at Invesco, says they are mix of all of three.
You can buy, hold and use NFTs just like US dollars and Bitcoins. “They can appreciate in value and even produce cash flows.”
However, while money is fungible, NFTs are not. “One Bitcoin, dollar, euro or dirham is largely indistinguishable from the next. Nothing ties a dollar bill to a particular owner, for example. Nor does it tie you to to any goods, services or assets you bought with that currency. In contrast, NFTs confer specific ownership,” Mr Das says.
This makes NFTs closer to a piece of intellectual property such as a work of art or licence, as you can claim royalties or profit by exchanging it at a higher value later, Mr Das says. “They could provide a sustainable income stream.”
This income will depend on future demand and use, which makes NFTs difficult to value. “However, there is a credible use case for many forms of intellectual property, notably art, songs, videos,” Mr Das says.
What can victims do?
Always use only regulated platforms
Stop all transactions and communication on suspicion
Save all evidence (screenshots, chat logs, transaction IDs)
Report to local authorities
Warn others to prevent further harm
Courtesy: Crystal Intelligence
Zayed Sustainability Prize
Indian construction workers stranded in Ajman with unpaid dues
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1,800m
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1,800m ,400m
7.45pm Al Rashidiya – Group 2 (TB) $180,000 (T) 1,800m
8.20pm Al Fahidi Fort – Group 2 (TB) $180,000 (T) 1,400m
8.55pm Dubawi Stakes – Group 3 (TB) $150,000 (D) 1,200m
9.30pm Aliyah – Rated Conditions (TB) $80,000 (D) 2,000m
