UAE's coolest winter campaign to target international visitors, minister says


Georgia Tolley
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Related: Ruler of Dubai hails winter tourism push as 950,000 visitors deliver Dh1 billion boost to hospitality sector

The UAE's successful "world's coolest winter" campaign will focus on  international tourists once global lockdowns are lifted, a minister of state told The National.

The seasonal promotion was the first unified tourism campaign launched by all seven emirates and encouraged domestic tourists to explore the hidden gems of the UAE.
It ended this week after a 45-day run and attracted nearly a million domestic tourists and created Dh1 billion in revenue.

Ahmad Al Falasi, Minister of State for Entrepreneurship and Small and Medium Enterprises, and the man with responsibility for the campaign, said future promotions will aim at the lucrative international segment while also trying to attract repeat visits from residents.

The challenge for us going forward is having repeat customers

He said rising Covid-19 case numbers would not tarnish the UAE's tourism sector because of the country's vaccination programme and strong healthcare system. 
"We really believe that there's potential for this national tourism identity to be used predominantly for long-haul travellers who would not travel for 12 hours to spend three days in one emirate, but would rather spend five to seven days across all emirates," Mr Al Falasi said.

He said another issue was ensuring repeat visits from domestic tourists. He said tour operators used to dealing with foreign tourists could handle more domestic trips.

"If you and I wanted to go to Hatta or to Khor Fakkan, we're not going to call a tour agent to take us there. The challenge is how can we find the right mechanism to put together a promotion with these tour operators to have them handle domestic tourists as well."

Ahmad Al Falasi, Minister of State for Entrepreneurship and Small and Medium Enterprises, wants more tour operators involved in the domestic tourism market.
Ahmad Al Falasi, Minister of State for Entrepreneurship and Small and Medium Enterprises, wants more tour operators involved in the domestic tourism market.

Dubai, meanwhile, updated its travel rules after a surge in coronavirus case numbers. Despite the rising daily infection rates, Mr Falasi is bullish about the UAE's future as a tourism destination.

“Things are still under control and people are able to move around freely,” he said. “As a percentage of population, the UAE today is second when it comes to vaccinations and the first when it comes to testing, and that goes a long way.

“As and when travel is eased, tourists will predominantly think of areas where they still feel safe, and I believe that travellers will want to go to a location that has great access, great infrastructure and a great healthcare system."

Mr Al Falasi said it was important that individual emirates did not compete for the same market and this unified approach would support the aim to double the UAE’s domestic tourism revenue within the next 10 years. This year there was a 17 per cent increase in the number of hotel stays compared with last year, thanks to the campaign.

In the meantime, it is hoped that the new nationwide Emirates Tourism app will encourage domestic tourists to continue to explore their home country. The platform includes 275 offers at hotels, restaurants and attractions, with more businesses set to come on board.

The next campaign starts on December 15 and Mr Falasi anticipates it will be more of a challenge as global lockdowns are lifted and residents can choose to travel abroad.

"We've seen the campaign for the launch of the Khor Fakkan amphitheatre – that was a new addition. We've seen also seen Rumailah Farm in Fujairah which was announced and was also very popular," he said, referring to new attractions in the UAE people can visit.

"I think the challenge for us ... is having repeat customers, and that requires some effort from the domestic tourism authorities to develop their offerings," he said. "They will need to be constantly updated to keep people coming back."

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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.

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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.”

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Placing the tape on the graphite and peeling it, they managed to rip off thin flakes of carbon. In the beginning they got flakes consisting of many layers of graphene. But as they repeated the process many times, the flakes got thinner.

By separating the graphite fragments repeatedly, they managed to create flakes that were just one atom thick. Their experiment had led to graphene being isolated for the very first time.

At the time, many believed it was impossible for such thin crystalline materials to be stable. But examined under a microscope, the material remained stable, and when tested was found to have incredible properties.

It is many times times stronger than steel, yet incredibly lightweight and flexible. It is electrically and thermally conductive but also transparent. The world's first 2D material, it is one million times thinner than the diameter of a single human hair.

But the 'sticky tape' method would not work on an industrial scale. Since then, scientists have been working on manufacturing graphene, to make use of its incredible properties.

In 2010, Geim and Novoselov were awarded the Nobel Prize for Physics. Their discovery meant physicists could study a new class of two-dimensional materials with unique properties. 

 

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He said the company prioritised safety throughout its development and, last year, Munich Re, one of the world's largest reinsurance companies, announced it was ready to insure their technology.

“Our levitation, propulsion, and vacuum technology have all been developed [...] over several decades and have been deployed and tested at full scale,” he said in a statement to The National.

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