UAE determined to accelerate economic cooperation with various world countries: Ruler of Ras Al Khaimah
H.H. Sheikh Saud bin Saqr Al Qasimi, Supreme Council Member and Ruler of Ras Al Khaimah, said that the UAE, under the leadership of President His Highness Sheikh Mohamed bin Zayed Al Nahyan, is determined to strengthen economic cooperation with various countries of the world, and to ensure a sustainable and prosperous future for generations to come.
This came during a speech delivered by the Ruler of Ras Al Khaimah, at the opening session of the St. Petersburg International Economic Forum 2023, in which the country is participating as the guest of honor of its current session.
“On behalf of His Highness Sheikh Mohamed bin Zayed Al Nahyan, I thank President Vladimir Putin and the Russian government for their kind invitation for the UAE to participate in the St. Petersburg International Economic Forum as the guest of honor of the current session.”
Sheikh Saud, who is leading the UAE’s delegation to the forum, added, “A sizable delegation from the UAE is attending the forum, and we are all optimistic and certain that this high-level participation will help advance our relationships and cooperation with other nations as we seek to create a knowledge-driven future based on science, artificial intelligence, green energy, and technology. Together, we will seize all possibilities at hand to advance the objectives of sustainable development.”
“Given the besetting global concerns that necessitate further collaboration and integration, particularly in areas of sustainability, food security, and climate change, and in the context of the ongoing transition to a knowledge-based economy,” Sheikh Saud continued, “efforts are being accelerated in the UAE to enhance prosperity and deepen stability, as well as diversify non-oil revenues and investments,” noting that the UAE is starting a new phase in its development drive and a fresh cycle of societal, political, and economic expansion.
“The UAE will host the 28th Conference of the Parties to the UN Framework Convention on Climate Change (COP28) in November 2023 at Expo City Dubai to accelerate climate action towards international commitments to keep global warming to no more than 1.5°C – as agreed in the Paris and to unite the world to find solutions to address challenges and seize opportunities to ensure a sustainable future for current and next generations.”
Sheikh Saud added that COP28 will be one of the UAE’s most important events as it provides a platform for collective international action to deliver global climate commitments by limiting future warming to 1.5°C.
The RAK Ruler is leading the UAE delegation to the St. Petersburg International Economic Forum (SPIEF 2023) being hosted by Russia from 14th to 17th June. The UAE high-level delegation includes representatives of a number of ministries, institutions, government agencies and major national companies in the public and private sectors.
Tariq Al Fahaam
90% of students considering their career goals in high school, 72% have clear idea of their job aspirations: Survey
High school students (15- to 18-year-olds) in the UAE are already focused on their professional aspirations, with about 40% planning to pursue majors in business and healthcare, a KPMG-GEMS Education report on student career aspirations and the future of work has found.
The report ‘’Mind the gap” surveyed more than 800 high school students in the UAE about their career goals, influences and perceived obstacles. It said the UAE government sees young people as its greatest asset. To achieve the country’s future vision, the UAE needs the skills, energy, enthusiasm and commitment of the country‘s young people.
Students gave communication, critical thinking, creativity and innovation, social skills, and leadership high marks for the skills they considered most important for future job success. They also recognized the merits of collaboration, flexibility and initiative, but most did not consider technology, information and media literacy as key to their future success.
‘’Today’s youth are already thinking about their professional futures, with 90% already considering their career goals in high school, and with 72% having a clear idea of their job aspirations.
The Internet was the students’ primary source of information for academic guidance and career development, ahead of their teachers, families and peers, the report noted.
The report was unveiled during a press conference organised by GEMS Modern Academy in the presence of Dr. Faisal Al Hammadi, Advisor to the Minister of State for Higher Education and Advanced Skills, Dino Varkey, Group Executive Director at GEMS Education, Emilio Pera, Chief Executive Officer and Senior Partner of KPMG Lower Gulf, Marketa Simkova, Partner, People & Change KPMG Lower Gulf, Gunjan Shroff, Partner, People & Change, KPMG Lower Gulf, and several public and private sectors officials.
According to the report, most students said they planned to pursue business (21%), followed by healthcare (20%), engineering (12%) and creative arts 6%). Business was the top choice for male students (29%) and healthcare dominated among female students (24%). less than 1% of respondents planned to study computer science or artificial intelligence, and only about 5% planned to study natural sciences. Information technology fared just slightly better, with 14% of male students planning to go into IT, compared with 4% of female students.
Female students in particular showed strong interest in science, but not in computers or technology; 29% of female students said science was their favorite subject, but only 4% were interested in computer science, compared to 18% of male students. As a result, just 9% of students overall were interested in computer science.
Communication, critical thinking, creativity and innovation, social skills, and leadership were all ranked more or less evenly (9% to 12%) as the skills students considered most important for future job success. Collaboration, flexibility and initiative also gained relatively high marks (6.6% to 8.4%).
“The great challenge is to equip young generations with the skills they will need no matter what future jobs look like,” according to the government, citing a former World Bank Group President. “These skills include problemsolving, critical thinking, as well as interpersonal skills like empathy and collaboration.” Schools are therefore doing a good job promoting people skills as key to future success.
Today’s students are already thinking about their future careers. Of the high schoolers surveyed, 90% had already started thinking about their career goals, and 72% had a clear idea of what job they wanted to do. Most said their choices were influenced by their areas of interest (82%), skills and abilities (70%), and academic performance (52%). However, more than half of the students surveyed (53%) also said financial challenges limited their career choices, while about one-fifth reported that their parents’ desires posed a barrier to pursuing their preferred jobs.
Dr. Al Hammadi said: ”Changes of the industrial revolution that we are currently living through are very rapid, and therefore the challenges facing the educational sector are how to prepare students for the labor market appropriately and focus on data, artificial intelligence and digital technologies.”
“Understanding youth aspirations is essential, as their goals will have serious implications for national growth and success. The aspirations of young students are essential to their educational choices, work performance and labor market outcomes. If they are not provided with guidance about their life goals, employers aiming to match labor market demand with available supply will face serious challenges,” said Marketa Simkova, Partner, People & Change KPMG Lower Gulf.
UAE convenes UN Security Council Presidency Signature Event on Human Fraternity in Promoting and Sustaining Peace
Noura Al Kaabi, Minister of State, called on the United Nations Security Council to acknowledge that addressing and preventing hate speech, racism, and all manifestations of extremism are integral parts of the Council’s mandate to maintain international peace and security. She delivered the UAE’s statement during a signature event of the UAE’s UN Security Council presidency, a ministerial-level briefing entitled “The Values of Human Fraternity in Promoting and Sustaining Peace”.
Al Kaabi chaired the briefing, and the Council was briefed by António Guterres, Secretary-General of the UN; Sheikh Ahmed El-Tayeb, Grand Imam of Al-Azhar; His Eminence Archbishop Paul Gallagher, Secretary for Relations with States of the Holy See—who delivered a statement on behalf of His Holiness Pope Francis, Head of the Catholic Church; and Latifa Ibn Ziaten, Founder of the Imad Association for Youth and Peace and a past winner of the Zayed Award for Human Fraternity
Delivering the UAE’s statement, Al Kaabi underscored that in a world facing the highest number of armed conflicts since the Second World War, the reality has grown increasingly dangerous, especially amid the continued rise in division, hate speech, and extremism in all of its manifestations.
Al Kaabi stated that the Council must adopt a proactive approach to hate speech and extremism. “This must be done at every stage of the conflict cycle—from the prevention and resolution of conflict to reconciliation and peacebuilding.”
She also noted that countering the threats posed by extremism, racism, and hate speech requires the participation of all relevant stakeholders to develop diverse solutions that span multiple policy areas. HE Al Kaabi emphasized that religious and community leaders have important roles to play in that process.
In his statement, the Secretary-General noted the widespread proliferation of hate speech, disinformation, and conspiracy theories, particularly on social media. He highlighted that “around the world, we are witnessing a groundswell of xenophobia, racism and intolerance, violent misogyny, anti-Muslim hatred, virulent anti-Semitism, and attacks on minority Christian communities”.
In his statement, Sheikh Ahmed El-Tayeb, Grand Imam of Al-Azhar, stressed the need to “revive the culture of dialogue and encounter among the followers of religions, and to consolidate the principles of peace and harmonious coexistence”. He asked for the support of political leaders and decision-makers in the international community.
Additionally, Archbishop Paul Gallagher highlighted in his remarks that building peace requires passion and patience, experience and farsightedness, tenacity and dedication, and dialogue and diplomacy. “It takes more courage to seek peace than to wage war.”
In her remarks, Latifa Ibn Ziaten said that the general public, schools, and diplomatic institutions must advocate for peace and common humanity. She stated that it is imperative to include women and youth in peacebuilding training, dialogues, and initiatives. “I believe what we need is to meaningfully engage in dialogue and to find solutions together.”
The UAE is serving as President of the Security Council for the month of June. The Council presidency rotates each month.
Ahmed bin Mohammed attends Department of Economy and Tourism’s first ‘City Briefing’ of 2023
H.H. Sheikh Ahmed bin Mohammed bin Rashid Al Maktoum, Second Deputy Ruler of Dubai, today attended the Department of Economy and Tourism’s (DET) first ‘City Briefing’ of 2023.
Organised for key stakeholders and partners, the industry gathering provided participants the opportunity to gain a deeper understanding of the Dubai Economic Agenda, D33, that was launched by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, to further consolidate Dubai’s status as one of the top three global cities. The event, held at the Dubai World Trade Centre, highlighted the crucial role assigned to the city’s tourism sector in ensuring the success of the 10-year Agenda.
In addition to the focus on the D33 Agenda, the latest data and industry outlook for 2023 and beyond were also shared by DET at the ‘City Briefing’ which was presided over by Helal Saeed Almarri, Director General of DET. The briefing was attended by over 1,200 top executives from across the tourism ecosystem including aviation, travel, hospitality and retail sectors. The gathering has enabled stakeholders and partners to be aligned with both domestic and global marketing initiatives and activities rolled out by DET, while exploring ways to continue accelerating the momentum to further reinforce the city’s position as an international hub for business, investment, talent and tourism.
Helal Saeed Almarri said: “The Dubai Economic Agenda, D33 is a bold and ambitious plan developed under the visionary leadership of His Highness Sheikh Mohammed bin Rashid Al Maktoum, to create a legacy that will be celebrated by future generations, as we foster a climate of innovation, sustainability and inclusivity to pave the way for a future where Dubai stands proudly among the world’s top three premier destinations. With great optimism for 2023 and beyond, we will press on with determination and a renewed focus on delivering exceptional experiences for our visitors from around the world.”
“We also extend our heartfelt gratitude to each and every partner who has stood by our side, supporting the vision of Dubai and contributing to our collective achievements. Indeed, the success of the D33 Agenda will be intricately linked to the wholehearted support of our valued stakeholders and partners.
Their unwavering commitment and shared belief in our city’s potential have propelled us forward, enabling us to overcome unprecedented challenges and transforming them into opportunities for growth in spite of a tough and highly competitive global environment. Their remarkable dedication and passion have been the driving force behind our city’s continued trajectory towards becoming the most visited international destination and the best city to live, work and invest in,” Almarri added.
18% YoY increase in international visitation and 80% hotel occupancy
For the fourth successive month this year, Dubai’s tourism sector delivered a stellar performance, welcoming 6.02 million international visitors from January-April, an 18% YoY increase, compared to 5.10 million visitors during the same four-month period in 2022.
Dubai’s hotel sector has also demonstrated resilience and strength, with an average occupancy of 80% during the January-April period this year, among the highest in the world, exceeding the 76% level achieved by city hotels during the corresponding period in 2022 and nearly matching the pre-pandemic 83% occupancy in 2019. According to a STR Global Hotel Monitoring Update, Dubai ranked first in occupancy, with a rate of 79.9%, only 2.9 percentage points below the pre-pandemic levels of 82.7%, placing it ahead of other global destinations like London, New York, Los Angeles and Paris. The report also revealed that Dubai ranked first in Gross Operating Profit per Available Room (GOPAR), with a rate of USD145 (AED530), just 9% below pre-pandemic levels, followed by Paris (USD 113) and Singapore (USD 102) respectively.
Hotel supply reached 148,949 rooms in 814 hotel establishments at the end of April 2023, a 26% growth over the pre-pandemic figures of 118,449 rooms in 722 hotel establishments at the end of April 2019. Moreover, the average length of stay by guests has increased by 13% to four nights compared to 3.5 nights in 2019, indicating Dubai’s appeal as a destination for longer-stay travellers. According to data from industry expert Amadeus, search and booking volumes for Dubai remained steady from September 2021 to April 2023, with searches and bookings to Dubai during January to April 2023 nearing pre-pandemic levels and especially close to the high numbers seen during the Expo and pre-World Cup 2022 period.
Issam Kazim, CEO of the Dubai Corporation for Tourism and Commerce Marketing (DCTCM), presented an overview of the industry and shared valuable insights into visitor trends and marketing strategies. He stressed the importance of collaboration with stakeholders and partners to ensure Dubai remains the preferred destination for global travellers and highlighted the various global campaigns that have successfully showcased the diversity of Dubai’s offering, further reinforcing its position as a must-visit destination. DET’s continuous efforts to promote Dubai across its international markets was directly responsible for driving 57% of the total visitation of 14.4 million international visitors in 2022, generating millions of prospective travellers for the future, especially an anticipated substantial increase in travellers from 2023 to 2025. These marketing activities have further influenced 11 million individuals to plan their Dubai trips and also inspired six million people to add Dubai to their ‘bucket list’ of destinations to visit between this year and 2025.
Dubai’s outstanding tourism performance has garnered international recognition and accolades, including being ranked as the No.1 global destination in the Tripadvisor Travellers’ Choice Awards for the second successive year. The city secured the second spot on Conde Nast Traveller’s ‘Where to Travel Next 2023 Hot List.’ and secured third place among Top 10 prominent global cities, ahead of New York, London, Tokyo, Sydney, Johannesburg, Paris and San Francisco, based on rankings published recently by UK-based The Economist. The city’s thriving gastronomy sector has also been recognised in the 2023 edition of both MENA’s 50 Best restaurants and the MICHELIN Guide Dubai, marking the continued success of Dubai’s diverse and vibrant food scene. The event also turned the spotlight on Dubai’s position as a global hub for cruise, yachting, gastronomy and destination weddings.
Kazim highlighted the exciting ‘Kids Go Free’ campaign, which aims to encourage families and global travellers to choose Dubai as their summer vacation destination. Hotels, entertainment centres and attractions are participating in this citywide initiative, offering families and children the opportunity to enjoy memorable experiences at attractive discounts and also free of cost for kids all summer.
Kazim also briefed participants on DET’s unique 360 marketing approach that deploys the full range of traditional, social and digital media platforms, as well as leveraging the power of celebrities, influencers, opinion leaders and gamification to drive awareness of Dubai’s diverse destination proposition among international audiences. He provided a glimpse of the extensive in-market activities carried out by DET’s overseas offices and over 3,000 global partners including travel trade and airline partnerships for leisure tourism, international roadshows and familiarisation trips for the travel trade and global media. On the domestic front, Dubai enjoyed huge success at the 30th edition of the Arabian Travel Market last month, which saw DET organising the biggest ATM Hosted Buyers Programme, attracting a record participation of 450 buyers from 31 different markets and countries, representing all regions.
Ahmed Al Khaja, CEO of the Dubai Festivals and Retail Establishment (DFRE), discussed leveraging festivals and events to increase visitation and reinforcing Dubai’s position as an international hub for leisure and business events and the MICE industry. He presented the diverse festivals and events sector in Dubai that are a part of the Retail Calendar including the iconic Dubai Shopping Festival and Dubai Food Festival, as well as the upcoming Dubai Summer Surprises, Eid in Dubai-Eid Al Adha celebrations, and the second edition of the Dubai Esports and Games festival, in addition to retail offers and promotions that residents and visitors can avail themselves of this summer in Dubai.
Stakeholders and partners have pledged their support for the D33 Agenda and the continued success of the industry, and remain committed to working with DET to make the city a top destination for business, investment and tourism.
Alexander Lee, Chief Commercial Officer, Jumeirah Group, said: “Today, Dubai is one of the top five most visited cities in the world, with one of the fastest growing luxury markets. It’s a city with incredible appeal to everyone from around the world. As a luxury hotel operator and owner of high-end residences across the city, Jumeirah Group continues to see rising demand for its products and services, both from traditional feeder markets but increasingly from new international markets, as Dubai advances its position as a leading global destination.
“The luxury hospitality sector is becoming increasingly competitive with a strong pipeline of hotels and resorts due to enter the market to support Dubai’s ambitious tourism targets,” he added. “The city is truly paving the way towards being the world’s best place to live and with plans to double the size of the economy over the next decade as part of the Dubai Economic Agenda, D33. This is an interesting time for Dubai and it represents an attractive proposition for many brands like ours, to expand our business and realise our true potential,” Alexander Lee continued.
Timothy Kelly, Executive Vice President and Managing Director, Atlantis The Palm, Atlantis The Royal Resort & Residences, said: “The opening of our new ultra-luxury resort Atlantis The Royal has been tremendously successful, welcoming international visitors from over 200 countries. We have exceeded our financial expectations with a strong occupancy performance and immense demand for our many celebrity chef branded restaurants. As we attract new customers, our iconic resort plays an important role in upholding the bold and far-reaching vison of the D33 Agenda. In addition, Atlantis, The Palm continues to break hotel visitation and waterpark records resulting in one of the best years in our history. A key focus across both resorts is culinary innovation and offering the best gastronomy experiences. We recently maintained our Michelin stars at Hakkasan and Ossiano, and Dinner by Heston Blumenthal was awarded its first star within only four months of opening. As tourism continues to evolve in the region, we fully support the ambitious goal of the D33 Agenda to position Dubai among the top three global destinations for tourism and business.”
Aligi Gardenghi, Vice President, Operations, Arabian Peninsula, Hilton, said, “Dubai welcomed more than six million visitors between January and April 2023, and at Hilton we have seen great momentum in the first half of the year. Looking to the future, this momentum is set to continue, supported by great initiatives such as Dubai Economic Agenda, D33, which is set to make the city a global business and financial centre. As the city grows, sustainability is top of mind for governments and businesses – with the UAE’s hosting of COP28, great initiatives such as Dubai Can and a major focus on ESG by companies such as Hilton. Hilton is well placed and committed to support Dubai’s ongoing growth, with several pipeline properties planned.”
Sandeep Walia, Chief Operating Officer, Middle East, Marriott International, said: “Dubai remains one of the better performing markets for Marriott International. We know there continues to be a strong demand for travel across the globe and Dubai is an attractive destination for all kinds of travellers. This a market that has something for everyone, and we are proud to have a fabulous portfolio of properties in the city that align with the diversity of experiences this destination offers for every type of traveller. Our year-to-date performance in Dubai has been very encouraging as the city welcomed an influx of regional and international travellers. While leisure travel continues to lead our performance in Dubai, we have been pleased with the upward trajectory of the business transient and MICE sectors in the city. We are confident that the momentum for the travel sector in Dubai will continue through the back end of the year.
“The market’s strong performance continues to solidify Dubai’s position as a global hub for business and leisure while also supporting the overall D33 Agenda outlined by the visionary leaders of Dubai. The tourism sector is an integral part of the city’s economy, and Marriott International remains committed to working closely with the Department of Economy and Tourism and organisations across the country to drive continued growth and success in this destination.”
Duncan O’Rourke, Chief Executive Officer Premium, Midscale & Economy Division – Middle East, Africa & Asia Pacific at Accor, said: “Accor currently operates 56 hotels in Dubai, offering over 14,000 rooms across the Premium, Midscale, and Economy division. Guests can choose from renowned brands such as Swissotel, Pullman, Movenpick, Novotel, Mercure, Adagio, and Ibis to experience world-class hospitality during their stay. This year, we are witnessing positive demand from key markets such as India, the UK, and Saudi Arabia. However, the UAE market continues to be a strong driver of our results.”
“We are delighted to report a notable increase in occupancy levels of +10% compared to the same period last year, a testament to Dubai’s remarkable appeal as a destination, offering a diverse range of cultural, leisure and business experiences. We are confident that the D33 Agenda will stimulate an increase in corporate travel demand, thereby driving the need for long-stay options in the mid-range brand segment and state of the art facilities to accommodate Meetings & Events across the city.”
Fathi Khogaly, General Manager of Grand Hyatt Dubai, said: “In recent years, Hyatt Hotels Dubai witnessed significant expansion across its existing and new properties. One notable project is the state-of-the-art Exhibition Center that opened at Grand Hyatt Dubai in May 2022 and has since played an instrumental role for the Hyatt Group in Dubai to surpass previous years’ performance. The venue attracted large conventions and events competing with other destinations across the globe, supporting the city’s vision in line with the D33 Agenda.
“Hyatt Hotels Dubai experienced a remarkable beginning to the year, with all revenue streams demonstrating superior performance compared to the previous year. We will continue to create innovative experiences for visitors from around the world, including the development of one of the world’s largest urban water parks. Hyatt Hotels Dubai are committed to supporting Dubai’s vision to attract more visitors into the city and further solidify its position as a global economic and tourism hub. A distinguished initiative that Hyatt Hotels Dubai have started since the beginning of the year is to make the hotels completely paperless, disrupting traditional hotel processes and aligning with the sustainability goal of the D33 Agenda.”
Madinah Modest Wear Expands Global Reach, Launching in 16 Countries on Amazon
the forward-thinking e-commerce fashion project ‘By Women, For Women,’ is thrilled to announce its official launch on Amazon, reaching customers across 16 countries in North America, Europe, and the Middle East. This exciting milestone marks a significant step forward for Madinah Modest Wear as it strives to empower women and preserve cultural heritage through its high-quality and stylish modest wear offerings.
Founded by Hina Bakht, Dubai-based entrepreneur in partnership with Nodira Tursunova from Tashkent, Uzbekistan, Madinah Modest Wear is dedicated to providing women globally with exceptional scarf and hijab choices that reflect their values and beliefs. The brand’s mission is deeply rooted in empowering tribal and rural women by offering them meaningful business opportunities through its e-commerce platform.
Hina, who also the Managing Director of Madinah Modest Wear, expressed her delight at the prospect of reaching millions of customers worldwide through Amazon. She stated, “We are incredibly excited to see Madinah Modest Wear go live on Amazon and expand our customer reach on a global scale. Amazon provides an unparalleled platform with a vast customer base, making it an outstanding opportunity for our brand. This partnership allows us to enter new markets, connect with diverse audiences, and showcase our young brand worldwide.
By joining forces with Amazon, Madinah Modest Wear has gained access to a thriving international marketplace that will enable the brand to extend its reach beyond its existing website. Furthermore, this exciting development symbolizes the ongoing collaboration between the United Arab Emirates and Uzbekistan, both committed to fostering innovation to drive the digital economy forward. Madinah Modest Wear stands as a testament to the shared vision of these two nations, aiming to create opportunities and empowering women in every field.
The Madinah Modest Wear e-commerce platform not only offers an exquisite collection of modest wear but also acts as a catalyst for change and social impact. By promoting fair trade practices, providing training, and offering support, Madinah Modest Wear strives to nurture economic independence, enhance self-esteem, and contribute to the sustainable development of marginalized communities in countries like Uzbekistan.
To learn more about Madinah Modest Wear and explore its exquisite collection, visit the official website at www.madinahmodestwear.com
For media contact:
Hina Bakht
Managing Director
EVOPS Marketing & PR
Mob: 00971 50 6975146
Tel: 00971 4 566 7355
Hamdan bin Zayed briefed on ongoing preparations for Liwa International Festival- Moreeb Dune
H.H. Sheikh Hamdan bin Zayed Al Nahyan, Ruler’s Representative in Al Dhafra Region, was briefed on the current preparations for the Liwa International Festival 2023- Moreeb Dune.
This came as Sheikh Hamdan received at Al Nakheel Palace today Mohamed Khalifa Al Mubarak, Chairman of the Department of Culture and Tourism – Abu Dhabi.
The festival will be held under Sheikh Hamdan’s’ patronage and will be organised by the Liwa Sport Club in collaboration with the Department of Culture and Tourism – Abu Dhabi, in its next session.
Sheikh Hamdan emphasised the significance of offering all capabilities and equipment to ensure the success of the event, which, he stressed, has evolved into a destination for thrill-seekers and supports and consolidates the culture of events and festivals in the Al Dhafra region.
He also underscored the importance of building on the festival’s great past performances as a chance to promote the local tourism sector and draw guests.
His Highness thanked the Liwa Sports Club Board of Directors, the festival’s Higher Organising Committee, all of the sponsors, and all of the strategic partners for their contributions to the success of the event as well as the excellent administration of all other events and activities that take place in the Al Dhafra region.
The meeting was attended by Sheikh Sultan bin Hamdan bin Zayed Al Nahyan, the UAE Ambassador to Bahrain along with a number of officials.
OPEC emphasises UAE’s ‘capability to withstand global economic challenges’
The UAE’s non-oil sector is expected to continue its robust growth in 2023, building on the solid growth momentum of 2022, according to OPEC’s Monthly Oil Market Report – June 2023.
The global organisation hailed the progress of the the UAE’s travel and tourism sector, noting that it’s “recovering robustly, with a 55.8% y-o-y increase in passengers at Dubai International Airport in 1Q23, reaching 95.6% of its pre-pandemic levels. ”
It is anticipated, continues the report, that passenger figures will surpass those of 2019 this year.
“This revival in tourism, coupled with a growing population and government support, is contributing to the overall economic growth and the UAE’s capability to withstand global economic challenges.”
The country’s Purchasing Managers’ Index (PMI) has remained at a high level, but retracted slightly in May to a level of 55.5, after 56.6 in April, therefore suggesting that the expansionary trend will be maintained, according to the report.