Dubai's First Quarter Inbound Arrivals Just 2 Percent Shy of 2019 Levels

Dubai International Airport (DXB) is set to get a AED 6 billion-AED 10 billion ($1.6 billion-$2.7 billion) mega expansion in the next 5-7 years.

Silkhaus, a United Arab Emirates-based platform for short-term rentals, announced on Tuesday that it has raised $7.75 million in a seed funding round.

Integrated resort operator Wynn Resorts confirmed that it would be operating a casino at its resort in Ras Al Khaimah.

Dubai-based property developer Nakheel announced it has secured $4.6 billion in strategic financing deal to drive what it calls, “the new phase of growth.”

Saudi Arabia’s increasing focus in the tourism sector and the shift to leisure travel has brought Seera Group from the red to report the company’s first post-pandemic operating profit of $8 million in the third quarter.

Good morning from Skift. It’s Tuesday, January 10, and here’s what you need to know about the business of travel today.

Registering a record performance for the first six months of the financial year, Dubai state carrier Emirates Airline on Thursday reported a net profit of $1.08 billion for the first half of the financial year, compared to a loss of $1.6 billion for the same period last year.

In a further liberalization of regulations to attract more tourists, Dubai has scrapped the 30 percent municipality tax on alcohol.

India is making a PCR Covid test mandatory for inbound arrivals from China, Singapore, Hong Kong, Thailand, Japan, and South Korea, from January 1.

Sheikh Mohammed bin Rashid Al Maktoum, vice president and prime minister of the UAE and ruler of Dubai, launched the Dubai Economic Agenda — D33 with the ambitious goal of doubling the size of Dubai’s economy over the next decade. With economic targets of $8.7 trillion over the next 10 years, the agenda also aims to establish Dubai’s position among the top three global cities. A key priority of the D33 Agenda is to make Dubai one of the top three international destinations for tourism and business by providing a globally competitive environment for business and driving down the cost of doing business across a number of sectors. The agenda also includes the launch of innovative projects to help make Dubai the world’s best city to live and work in as well as drive sustainable economic growth through innovative approaches. “Dubai will rank as one of the top four global financial centers with an increase in foreign direct investment to over $177 billion over the next decade and an annual $27.2 billion contribution from digital transformation,” the Dubai ruler said.

Indian carrier Vistara reported its first-ever net profit for the quarter ending December 2022, according to statement from the airline on Monday.  

Having witnessed a stronger than expected recovery in 2022, the Middle East could see international tourist arrivals return to pre-pandemic levels this year, according to the United Nations World Tourism Organization (UNWTO). Data from the UNWTO World Tourism Barometer noted that while all regions enjoyed significant increase in international arrivals in 2022 over the previous year, the Middle East recorded the strongest relative increase as international tourist numbers climbed to 83 percent of pre-pandemic numbers last year. “The region welcomed large events such as Expo 2020 Dubai and the FIFA World Cup in Qatar, as well as a highly attended Hajj pilgrimage in Saudi Arabia,” noted UNWTO in its report.  “UNWTO anticipates a strong year for the sector even in the face of diverse challenges including the economic situation and continued geopolitical uncertainty,” Secretary General Zurab Pololikashvili said. UNWTO noted that over 900 million tourists travelled internationally in 2022, which was double the number of those who travelled in 2021 though still 37 percent below 2019.