Tag Archives: dubai
Vision 2020: 20 million visitors and Dh300b revenue
Vision 2020: 20 million visitors and Dh300b revenue Issac John / 5 May 2013 Setting an ambitious but realistic tourism target, Dubai on Saturday unveiled its grand vision that seeks to draw 20 million visitors per year and Dh300 billion in annual revenues by 2020. His Highness Shaikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, approved the roadmap that envisions to treble the annual contribution made by tourism to the emirate’s economy to Dh300 billion while recording a two-fold increase in tourist arrivals, compared to the tourist traffic of 10 million in 2012. Shaikh Mohammed said the UAE has positioned itself among the most popular tourist destinations on the planet as it presses ahead by launching ambitious developmental initiatives and high quality projects. He noted that building a robust infrastructure with high capacity while providing quality high-end services to all the visitors of the UAE is an ongoing process that required the country to keep up the pace of development. “We are aware that such goals are ambitious, but more important than ambition is realising these goals in reality,” Shaikh Mohammed said. He said he was confident that the Department of Tourism and Commerce Marketing (DTCM) is capable of achieving Dubai’s new Tourism Vision for 2020, given its track record of accomplishments and positive results. “However, we need to bear in mind that tourism is a broad service sector and that one entity cannot be solely held responsible for its development. It is important that other government departments and institutions share this responsibility and join in developing this sector in order to strengthen our macroeconomic capabilities,” Shaikh Mohammed said. The UAE Vice-President urged the private sector to play a similar role in achieving the goal within the framework of a partnership that was established decades ago. “This partnership between the government and private sector is a source of our pride and we will do all what it takes to make it a success,” said Shaikh Mohammed. Stressing the economic significance of the tourism sector, Shaikh Mohammed said the country is pinning its hopes on it and urged mobilisation of all resources to reinforce the position of the UAE at the forefront of regional and global tourism. Shaikh Mohammed noted that Dubai’s reputation as a sought-after global tourism destination is fast growing. “In fact, the increased number of visitors is a strong evidence to this as Dubai was able to double the number of tourists from just five million per annum to 10 million tourists over the past eight years.” He said he firmly believed in Dubai’s ability to draw substantially higher tourist traffic as the emirate implements a whole range of new projects that will add new elements of attraction and facilitate the arrival of larger numbers of visitors into the country. Developed by the DTCM, the vision sets out how the city will both double its annual visitor numbers from 10 million in 2012 to 20 million in 2020, and increase the economic contribution of the tourism sector. Early estimates from a study currently being conducted indicate that the current economic contribution is in the range of Dh100 billion. “The strategy behind Dubai Tourism Vision 2020 is to further leverage a sector which has been a central pillar in the city’s economic growth, success and diversification,” said Helal Saeed Almarri, Director-General of the DTCM. He said the strategy is based upon two central tenets. “The first is to widen our range of tourism offerings across events, attractions, infrastructure, services and packages and to enhance the overall visitor experience from arrival to departure. The second tenet is to adapt our marketing approach in order to showcase Dubai to a wider audience and grow the conversion rate of awareness to bookings.” Almarri said there is a range of initiatives that would be put in place in both of these areas to attract more visitors to the city and encourage them to stay longer and spend more during their stay here. “Our role at the DTCM is to act as a facilitator of growth, harnessing the collective power of stakeholders in the city and deepening engagement with parties outside of Dubai, so that we deliver the vision,” said Almarri. He explained that the target of 20 million visitors would be achieved through meeting a number of objectives. “First, maintaining existing market share of tourism from all source markets: economic and demographic factors will increase the amount of outbound tourists in each market. Therefore, maintaining Dubai’s existing market share will result in an up-tick in visitor numbers. Second, increasing awareness about Dubai’s attractions in all key source markets that the DTCM has identified as having significant potential for growth. These include Latin America, China and the emerging economies of Africa. Third, increasing the number of repeat visits, already a significant driver for tourism in the city.” “Meeting these objectives in addition to driving up the average length of stay (currently at 3.76 days) and increasing the amount of money spent by tourists during their visits will lead to the trebling of the economic contribution that tourism makes to the emirate’s Gross Domestic Product,” he said. Almarri said: “The vision of His Highness has created a destination with experiences that no other city can offer. We have a number of attractions that are famous throughout the world including the world’s tallest building Burj Khalifa, the Burj Al Arab and The Palm Jumeirah; the world’s largest shopping malls; and an incredible infrastructure which acts as a magnet for global travellers.” He said the city has a portfolio of world class hotels, the second busiest airport on the planet and a world leading — and in my opinion, the best — airline and these are also very well known. “But in addition we have a substantial, wide-ranging and ever evolving destination offer that compliments the more renowned attractions and we will ensure that every potential visitor knows the depth and range of experiences they can enjoy on holiday in Dubai. “As a city we have done a very good job in building awareness of Dubai. Part of our new strategy is to adapt our marketing approach to showcase Dubai to an even wider audience but also to grow the conversion rate of awareness to bookings, making sure that a potential visitor doesn’t just know about Dubai, but views it as his next holiday or business destination,” said Almarri. To widen the range of tourism offerings, Dubai will have three key areas of focus — as the world’s leading family destination, as an event destination, and as a business destination. “We see no distinction between the business traveller and the leisure visitor. Today’s conference delegate is tomorrow’s holidaymaker and there are a number of steps we can take to encourage the business travellers to extend their stay or return for leisure trips with friends and family,” said Almarri. issacjohn@khaleejtimes.com Continue reading
Trump International Golf Course – Dubai
DAMAC Properties, the largest private developer of luxury real estate in the Middle East, has announced plans to develop an 18-hole PGA Championship Golf Cou… Continue reading
Dubai Chamber Report Confirms Sub-Saharan Africa’s Business Potential For Middle East
The Dubai Chamber of Commerce and Industry announced findings of a recently commissioned research report conducted by the Economist Intelligence Unit (EIU) that highlight the significant potential Sub-Saharan Africa represents for companies in the Middle East. The research findings have been released prior to the Africa Global Business Forum 2013, held under the patronage of His Highness Sheikh Mohammed bin Rashid Al Maktoum, UAE Vice President and Prime Minister and Ruler of Dubai, on May 1st and 2nd. Sub-Saharan Africa is now competing with Asia to become the world’s fastest growing region. This growth is being driven by rising urbanisation, a young population and the emerging middle class. For certain countries, crucial economic reforms, combined with rising government spending and strengthening ties with fast-growing economies in Asia, will help drive future growth, the report claims. H.E. Hamad Buamim, Director General, Dubai Chamber, said: “The Economist Intelligence Unit report highlights the growth potential of Africa for companies here in the Middle East. Africa offers the highest return on direct foreign investment in the world, according to the UN trade agency, UNCTAD. “Therefore, the Dubai Chamber is extremely pleased to be organising the Africa Global Business Forum 2013, in partnership with COMESA Regional Investment Agency, where regional companies will hear from leading dignitaries both from Africa and the Middle East as to how to address the challenges of doing business in Africa in order to maximise the region’s business growth potential.” Pratibha Thaker, Regional Director, Economist Intelligence Unit Middle East & Africa, said: “Business perceptions of Sub-Saharan Africa are changing. Structural changes over the past decade have brought more political stability and economic growth to the continent, despite some marked exceptions. A new business mentality and an increasing consensus on economic policy have both helped. Companies can see that not all emerging markets will grow rapidly forever, and that some markets that are still growing – like China – will slow and be overtaken by others – like India – in a few years. Africa is part of this picture. But, successful investment in Africa requires a complex view of the continent, given the diversity of markets, business environments, legal systems, social groups and political systems.” Findings of the EIU report confirm both the growth opportunities and associated challenges in key sectors of the sub-Saharan Africa region’s economy: • Agriculture: Africa’s agriculture has the potential to become a global “bread basket” with over 60% of the world’s uncultivated arable land located in the region. However, the sector remains troubled by some problems, notably underinvestment, a lack of clear policy, poor regulations, inefficient supply chains and inadequate fertilisation. • Banking: The banking market is potentially vast and virtually untapped. Technology, such as mobile banking, is trying (and often succeeding) to fill the gap. • Infrastructure: The scale of Africa’s infrastructure needs is difficult to comprehend. For example, an estimated US$ 100 billion a year is needed for investments in the power sector alone. • Retail: With the emergence of the middle class, formal retail is finally starting to develop. South African retailers are expanding rapidly across the content, often with newly-designed “value” products, aimed at lower-income customers. • Telecommunications: The number of mobile subscribers exceeded the 500 million mark in 2010, with most countries still far off saturation. Internet access remains almost non-existent in most countries. It is against this exciting and yet challenging economic backdrop in Africa that leading African and Middle Eastern dignitaries will meet at the Africa Global Business Forum 2013, to examine and debate how the public and private sector can come together to address the barriers to growth and strengthen the path to economic prosperity. According to the report, major challenges remain for companies wishing to do business in Africa. Most countries from the region continue to suffer from limited infrastructure, a shortage of skills, poor governance and inconsistent policy making. However, certain countries, notably Ghana, have made consistent improvements. The report examines the challenges and opportunities that can be found in six key Sub-Saharan countries – Angola, South Africa, Nigeria, Ghana, Tanzania, and Kenya. • Angola: Cooperation with the UAE has strengthened recently, led by construction and energy deals. UAEimports from Angola are dominated by diamonds, while its exports are led by re-exports of vehicles. Oil exports will continue to support strong growth, but the economy remains largely undiversified. • South Africa: The relationship with the UAE is well-developed and bilateral trade and FDI flows are strong. The business environment is among the most advanced in Sub-Saharan Africa and the private sector is well-established. However, mining and agriculture are undergoing productivity crises. • Nigeria: Several UAE companies have made sizeable investments in Nigeria, while Nigerian real estate investors are investing in Dubai. UAE exports to Nigeria have recovered after falling in 2009. The government is keen to increase the role of the private sector, but opposition to privatisation and deregulation from vested interests remains formidable. • Ghana: UAE investment into Ghana is starting to pick up, with a major power plant deal announced in 2012. UAE imports from Ghana are led by gold. Ghana offers a relatively business-friendly environment and red tape is gradually being removed. Poor infrastructure remains a major obstacle however. • Tanzania: Political relations are warm and past UAE investment into Tanzania has included copper plants, luxury resorts and retail outlets. Businesses benefit from the relative political and economic stability, but infrastructure and skills shortages remain critical weaknesses. • Kenya: UAE FDI into Kenya is relatively well-developed in retail, telecoms and banking. The UAE is also one of Kenya’s largest import suppliers (primarily crude oil). The business environment is challenging. The unstable political environment and poor infrastructure pose the biggest challenges. The Africa Global Business Forum 2013 seeks to address some of these issues and explore the opportunities for further cooperation between UAE and African businesses. The following themes and topics and more will be discussed: • Government initiatives and business prospects in Africa • Breaking down barriers and connecting businesses in a sustainable way for successful trade • Commercialising agriculture – food security and investment • Islamic Finance – Africa the new Frontier • Private equity – lessons learnt from Dubai for Africa The Africa Global Business Forum 2013 will be held on May 1st and 2nd at the Madinat Jumeirah, Dubai. Continue reading
