• Supporter groups are booking up hotels in Dubai en masse for Qatar World Cup matches in November and December. Reuters
    Supporter groups are booking up hotels in Dubai en masse for Qatar World Cup matches in November and December. Reuters
  • Four Seasons Hotels and Resort in DIFC. Colliers in its latest Mena Hotel Forecast says hotels in DIFC and along Sheikh Zayed Road are forecast to see 17 per cent increase in occupancy. Four Seasons Hotels and Resort
    Four Seasons Hotels and Resort in DIFC. Colliers in its latest Mena Hotel Forecast says hotels in DIFC and along Sheikh Zayed Road are forecast to see 17 per cent increase in occupancy. Four Seasons Hotels and Resort
  • Supporters from South American teams, like Brazil, and European powerhouses are creating the most demand for hotel rooms. Reuters
    Supporters from South American teams, like Brazil, and European powerhouses are creating the most demand for hotel rooms. Reuters
  • Hotels in Dubai Creek and Festival City are expected to see the biggest increase in occupancy rates since 2021. Sheraton
    Hotels in Dubai Creek and Festival City are expected to see the biggest increase in occupancy rates since 2021. Sheraton
  • Hotels have reported plenty of interest from German fans. Getty Images
    Hotels have reported plenty of interest from German fans. Getty Images
  • Radisson Hotels said group bookings are being taken in huge numbers. Silvia Razgova / The National
    Radisson Hotels said group bookings are being taken in huge numbers. Silvia Razgova / The National
  • Aloft Dubai said the World Cup has increased hotel bookings across the UAE for November and beyond. Pawan Singh / The National
    Aloft Dubai said the World Cup has increased hotel bookings across the UAE for November and beyond. Pawan Singh / The National
  • Hilton Hotels has reported high occupancy in the UAE for November. Pawan Singh / The National
    Hilton Hotels has reported high occupancy in the UAE for November. Pawan Singh / The National
  • Rotana says neighbouring countries will benefit as key transit hubs for Doha. Rotana
    Rotana says neighbouring countries will benefit as key transit hubs for Doha. Rotana

UAE

Bumper winter forecast for UAE tourism as Fifa World Cup boosts trade

Desert safaris, yachts and brunches in demand for World Cup tourism boom

Nick Webster
Nick Webster

October 09, 2022

  • English
  • Arabic

Sports tourists heading to the UAE this winter are expected to boost the local hospitality and events economy by millions of dirhams, analysts said.

The UAE topped a list of preferred destinations for those travelling to the region to catch some of the biggest global sporting events, such as the 2022 Fifa World Cup in Qatar, Abu Dhabi Grand Prix and European Tour golf’s Race to Dubai finals.

A recent report by online travel agency Musafir found travellers opted for the UAE because of its proximity to major sporting events as well as family-orientated activities, personal safety, security, room availability, shopping, adventure sports and seamless connectivity.

We have had several enquires about taking a yacht from Dubai to Qatar, but unfortunately that is not possible owing to certain regulations
Ahlam Mohammed,
Book Yachts, Dubai

Meanwhile, hospitality companies in Dubai reported “considerably” higher demand for hotel rooms, events, brunches and yacht hire resulting from the high-profile sports events in the final quarter of the year.

The football World Cup in Qatar is the main draw, with a deluge of arrivals imminent from South America ― a relatively new tourism market for the Emirates.

“This is the usual high leisure season for international source markets, but we are certainly seeing a rise in demand this year in arrivals from particular destinations, including Argentina and Brazil,” said Mohanad Malhas, general manager at Arabian Adventures, which operates desert safaris, overnight camping and dune buggy hire.

“We are witnessing strong demand for our services during the winter months of 2022.

“This is across our entire range of services, from planning, hotel stays, transfers, arrivals and in-resort organising excursions, managing events and cruises, alongside our award-winning desert safari and city tour products.

“For groups and individual travellers, clients are choosing Dubai as a hub during the months of highly anticipated mega events coming to the region this winter.”

Sports tourism destination

  • Undefeated light heavyweight champion Dmitry Bivol, left, is putting his title on the line against Gilberto 'Zurdo' Ramirez at Etihad Arena on November 5. All photos: Victor Besa / The National
    Undefeated light heavyweight champion Dmitry Bivol, left, is putting his title on the line against Gilberto 'Zurdo' Ramirez at Etihad Arena on November 5. All photos: Victor Besa / The National
  • Left to right: Dmitry Bivol, Eddie Hearn, Zurdo Ramirez, Saleh Mohammed Al Geziry and Eric Gomez in front of the Etihad Arena in Abu Dhabi.
    Left to right: Dmitry Bivol, Eddie Hearn, Zurdo Ramirez, Saleh Mohammed Al Geziry and Eric Gomez in front of the Etihad Arena in Abu Dhabi.
  • Russia'a Dmitry Bivol with his WBA light heavyweight belt in Abu Dhabi.
    Russia'a Dmitry Bivol with his WBA light heavyweight belt in Abu Dhabi.
  • Left to right: Dmitry Bivol, Eddie Hearn, Saleh Mohammed Al Geziry and Zurdo Ramirez.
    Left to right: Dmitry Bivol, Eddie Hearn, Saleh Mohammed Al Geziry and Zurdo Ramirez.
  • The press conference on Wednesday, August 31, 2022, for Dmitry Bivol v Gilberto Ramirez at the Etihad Arena.
    The press conference on Wednesday, August 31, 2022, for Dmitry Bivol v Gilberto Ramirez at the Etihad Arena.
  • Left to right: Eddie Hearn, Dmitry Bivol, Saleh Mohammed Al Geziry, Zurdo Ramirez and Eric Gomez during the press conference.
    Left to right: Eddie Hearn, Dmitry Bivol, Saleh Mohammed Al Geziry, Zurdo Ramirez and Eric Gomez during the press conference.
  • Undefeated light heavyweight champ Dmitry Bivol with Eddie Hearn.
    Undefeated light heavyweight champ Dmitry Bivol with Eddie Hearn.
  • Left to right: Eddie Hearn, Dmitry Bivol, Saleh Mohammed Al Geziry, Gilberto Ramirez, in front of the Etihad Arena in Abu Dhabi.
    Left to right: Eddie Hearn, Dmitry Bivol, Saleh Mohammed Al Geziry, Gilberto Ramirez, in front of the Etihad Arena in Abu Dhabi.
  • Saleh Mohammed Al Geziry and Mexico's Zurdo Ramirez during the press conference.
    Saleh Mohammed Al Geziry and Mexico's Zurdo Ramirez during the press conference.
  • Undefeated light heavyweight champ Dmitry Bivol.
    Undefeated light heavyweight champ Dmitry Bivol.
  • Promoter Eddie Hearn during the press conference in Abu Dhabi.
    Promoter Eddie Hearn during the press conference in Abu Dhabi.

According to the World Trade Organisation, the Middle East is becoming the world’s fastest-growing sports tourism destination valued at an estimated $600 billion (Dh2.2 trillion).

Aloki Batra, chief executive of Five Hospitality — operator of Five Hotels on The Palm Jumeirah and in Jumeirah Village Circle — said Dubai was likely to hit peak popularity this winter.

“We have already seen a surge in advance bookings from celebrities, locals and visitors alike with a 25 per cent increase over last year,” he said.

“This is mainly from our key markets such as the United Kingdom, Scandinavia, Germany and France.”

It is not only hotel providers who will benefit from the boom, with ancillary tourism services also reporting a significant rise in demand.

One of those industries is the pleasure yacht business.

Ahlam Mohammed, sales and marketing manager at Book Yachts in Dubai, said bookings were well up on recent years, with many people asking about sailing yachts directly to Qatar for the World Cup.

“October is usually busy, but we are seeing a lot more bookings than usual,” he said.

“We have many guests from India and America, but there are a lot more now coming in from Europe.

“People want birthdays, to hang out or just to enjoy a family holiday while they are here for the World Cup.

“We have had several enquires about taking a yacht from Dubai to Qatar, but unfortunately that is not possible owing to certain regulations, and it would take anything from 12 to 18 hours.

“Most people we speak with are travelling to Qatar by road from Dubai.”

Inbound flights to the UAE are expected to soar by up to 20 per cent compared with the same time last year, the Musafir report said.

Apart from attending sporting events, fans will want to explore thrill-seeking activities as an add-on for a comprehensive travel experience encapsulating all that the country has to offer.

The Musafir report said the average spend by travellers to Dubai would be about $5,000 (Dh18,300) for a hotel stay, transport, shopping and to explore the city.

Findings from the report showed UAE hotels will record an up to 40 per cent increase in demand for accommodation and price inflation with occupancy rates likely to hit 100 per cent during the tournament.

Data also showed an 80 per cent growth in advance bookings for travel between Dubai and Doha.

That has been encouraged by the joint multiple-entry tourist visa for the UAE, Saudi Arabia and Oman to holders of the Hayya Fan ID.

“Sports events act as a catalyst and can have a tremendous impact on the economy ― as we will see millions of fans gather to not only watch their favourite sport but also to have an unforgettable experience during their stay in the region,” said Sachin Gadoya, chief executive and co-founder of Musafir Business.

“We are anticipating an exponential growth in the tourism sector, as arrivals and occupancy will be even more than pre-pandemic times, which is a much-needed boost for the travel and hospitality sector.”

NBA District in Abu Dhabi: what to expect at the week-long basketball fan zone

  • Fans arrive at the NBA District under a tunnel walk that celebrates the history of championship rings, banners and jerseys over the past 75 years. All photos: Khushnum Bhandari / The National
    Fans arrive at the NBA District under a tunnel walk that celebrates the history of championship rings, banners and jerseys over the past 75 years. All photos: Khushnum Bhandari / The National
  • The family-friendly event is open to fans of all ages.
    The family-friendly event is open to fans of all ages.
  • A fan takes a photo with former NBA player and coach Isiah Thomas.
    A fan takes a photo with former NBA player and coach Isiah Thomas.
  • Milwaukee Bucks players MarJon Beauchamp, centre, and Sandro Mamukelashvili, right, visit the NBA District.
    Milwaukee Bucks players MarJon Beauchamp, centre, and Sandro Mamukelashvili, right, visit the NBA District.
  • NBA District has various zones for visitors and fans to explore.
    NBA District has various zones for visitors and fans to explore.
  • A young fan enjoys one of the video installations.
    A young fan enjoys one of the video installations.
  • Thomas takes to the stage for a small Q&A session with fans.
    Thomas takes to the stage for a small Q&A session with fans.
  • Former basketball champion Shaquille O'Neal makes his way to the stage.
    Former basketball champion Shaquille O'Neal makes his way to the stage.
  • Fans crowd for basketball Hall of Fame players O'Neal and Thomas.
    Fans crowd for basketball Hall of Fame players O'Neal and Thomas.
  • A basketball covered in Swarovski crystals on display in the 'Infinity Room'.
    A basketball covered in Swarovski crystals on display in the 'Infinity Room'.
  • There are two half-courts set up inside the NBA District.
    There are two half-courts set up inside the NBA District.
  • Fans have a chance to win limited-edition Air Jordans.
    Fans have a chance to win limited-edition Air Jordans.
  • There's a small NBA store for visitors to purchase merchandise.
    There's a small NBA store for visitors to purchase merchandise.
  • Fans show off their skills playing 'Pop-A-Shots'.
    Fans show off their skills playing 'Pop-A-Shots'.
  • A freestyler shows off his balancing skills.
    A freestyler shows off his balancing skills.
  • Freestylers show their skills at the NBA District.
    Freestylers show their skills at the NBA District.
  • The arcade space has videogames such as 'NBA 2k', 'NBA Blitz', 'NBA Hoops' and 'Pop-A-Shots'.
    The arcade space has videogames such as 'NBA 2k', 'NBA Blitz', 'NBA Hoops' and 'Pop-A-Shots'.
  • The NBA District is explored by all age groups at Manarat Al Saadiyat. Khushnum Bhandari / The National
    The NBA District is explored by all age groups at Manarat Al Saadiyat. Khushnum Bhandari / The National
  • The Gatorade zone has five different activities on one stand.
    The Gatorade zone has five different activities on one stand.
  • An exhibition about past NBA players is on display.
    An exhibition about past NBA players is on display.
COMPANY PROFILE

● Company: Bidzi

● Started: 2024

● Founders: Akshay Dosaj and Asif Rashid

● Based: Dubai, UAE

● Industry: M&A

● Funding size: Bootstrapped

● No of employees: Nine

More from Rashmee Roshan Lall
The five pillars of Islam
While you're here
AI traffic lights to ease congestion at seven points to Sheikh Zayed bin Sultan Street

The seven points are:

Shakhbout bin Sultan Street

Dhafeer Street

Hadbat Al Ghubainah Street (outbound)

Salama bint Butti Street

Al Dhafra Street

Rabdan Street

Umm Yifina Street exit (inbound)

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.”

While you're here
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
F1 The Movie

Starring: Brad Pitt, Damson Idris, Kerry Condon, Javier Bardem

Director: Joseph Kosinski

Rating: 4/5

Company profile: buybackbazaar.com

Name: buybackbazaar.com

Started: January 2018

Founder(s): Pishu Ganglani and Ricky Husaini

Based: Dubai

Sector: FinTech, micro finance

Initial investment: $1 million

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

Greatest of All Time
Starring: Vijay, Sneha, Prashanth, Prabhu Deva, Mohan
Director: Venkat Prabhu
Rating: 2/5
The%20Roundup%20%3A%20No%20Way%20Out
%3Cp%3E%3Cstrong%3EDirector%3A%3C%2Fstrong%3E%20Lee%20Sang-yong%3Cbr%3E%3Cstrong%3EStars%3A%3C%2Fstrong%3E%20Don%20Lee%2C%20Lee%20Jun-hyuk%2C%20Munetaka%20Aoki%3Cbr%3E%3Cstrong%3ERating%3A%20%3C%2Fstrong%3E3%2F5%3Cbr%3E%3Cbr%3E%3C%2Fp%3E%0A
COMPANY%20PROFILE
%3Cp%3E%3Cstrong%3ECompany%20name%3A%3C%2Fstrong%3E%20Alaan%3Cbr%3E%3Cstrong%3EStarted%3A%3C%2Fstrong%3E%202021%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20Dubai%3Cbr%3E%3Cstrong%3EFounders%3A%3C%2Fstrong%3E%20Parthi%20Duraisamy%20and%20Karun%20Kurien%3Cbr%3E%3Cstrong%3ESector%3A%3C%2Fstrong%3E%20FinTech%3Cbr%3E%3Cstrong%3EInvestment%20stage%3A%3C%2Fstrong%3E%20%247%20million%20raised%20in%20total%20%E2%80%94%20%242.5%20million%20in%20a%20seed%20round%20and%20%244.5%20million%20in%20a%20pre-series%20A%20round%3Cbr%3E%3Cbr%3E%3C%2Fp%3E%0A
Who's who in Yemen conflict

Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government

Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council

Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south

Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory

GAC GS8 Specs

Engine: 2.0-litre 4cyl turbo

Power: 248hp at 5,200rpm

Torque: 400Nm at 1,750-4,000rpm

Transmission: 8-speed auto

Fuel consumption: 9.1L/100km

On sale: Now

Price: From Dh149,900

SANCTIONED
  • Kirill Shamalov, Russia's youngest billionaire and previously married to Putin's daughter Katarina
  • Petr Fradkov, head of recently sanctioned Promsvyazbank and son of former head of Russian Foreign Intelligence, the FSB. 
  • Denis Bortnikov, Deputy President of Russia's largest bank VTB. He is the son of Alexander Bortnikov, head of the FSB which was responsible for the poisoning of political activist Alexey Navalny in August 2020 with banned chemical agent novichok.  
  • Yury Slyusar, director of United Aircraft Corporation, a major aircraft manufacturer for the Russian military.
  • Elena Aleksandrovna Georgieva, chair of the board of Novikombank, a state-owned defence conglomerate.
Updated: October 09, 2022, 8:32 AM
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