Rapid Growth of Dubai and the Changing Perspective of Dubai Summers!
In a recent interview with Economy Middle East, Issam Kazim, CEO of DTCM (Department of Tourism and Commerce Marketing), shares key highlights about the rapid growth of Dubai which is today considered as the most-preferred travel destination in the world.
According to Dubai’s Economic Agenda D33, Dubai aims to rank in the top 3 tier of the best global cities for businesses and leisure. This is seemingly being made possible with the rapid growth of the economy through developmental projects like the Al Maktoum Airport and a focus on Sustainable living. Dubai was the 1st city to receive the award of Tripadvisor’s Travellers choice awards 2024, thus ranking Dubai as the 1st global destination.
You may also check out our blog on the several investment opportunities near Al Maktoum Airport.
Increase in international tourists!
The above graph indicates a the growth of international tourists in Dubai
The interview with Economy Middle East, highlights the growth of international overnight tourists of 17.15 million indicating a 19.4% YoY growth in Dubai, 2023. And guess what! Surprisingly, 2024 has already witnessed 3.6 million international tourists in the months of January and February. Dubai is expecting to cross the previous year’s records in no time.
Rapid Growth of Dubai opens gates to Hotel investors and Landlords
Image courtesy: Skift
Dubai has become a Host destination for international meetings, conferences and exhibits! Therefore, to cater to the global investors, entrepreneurs and innovators, Dubai has categorized special Visas. These visas come in varied types like the Golden Visa, Multi-Entry Visa and separate visas for freelancers and remote workers. With such an increase of tourism rates, it is the best time to invest in Hotels, Villas and apartments for Rent.
Image courtesy: International Business Magazines
According to Khaleej times, the rents in Dubai residential areas are expected to climb 20%. Looking at this, it is possible that people will prefer buying properties rather than renting them. Therefore, this could be a great opportunity for investors to invest in residential properties.
Growth of DTC in Dubai!
According to Dubai Business Capital, DTC (Dubai Taxi Corporation) has experienced substantial growth in the 1st quarter of 2024 with an increase of 15% of revenue as compared to 2023, driving a 40% increase in EBITDA. 94 new taxi licenses have been given out, and with this rapid growth of Dubai Taxi Corporation, it has been considered as the largest Taxi operator in Dubai. DTC also seeks to extend its services to wheelchair users and further provide business to the neighboring emirates and benefit the best from the growing Dubai.
A Changing Perspective of Summers in Dubai!
Image courtesy: Expat Women
Dubai’s construction caters to deal with the extreme heat of the summers. According to NY times, the Dubai municipality has termed Umm Suqeim as one of the “night beaches” of Dubai. Here, you can swim 24 hours a day, with few restrictions, of course safety will always be the priority. If you notice, you’ll also find life-guards preparing wheelchair swimming devices to reach out to every type of swimmer visiting the place.
- Shift in Dubai Lifestyle has led to people enjoying recreational activities during late evenings and early mornings.
- Everything in Dubai is air conditioned – right from airports to metro trains and stations.
- Hotels too are updating their services to cater to the needs of tourists in Dubai. Hotels chill their pools in the summer months to provide a more refreshing retreat.
Development of the cruising industry in Dubai!
Image courtesy: Breaking Travel News
Dubai has collaborated with the Arabia Cruise Alliance that aims to promote the Arabian Gulf as the cruise-ship destination globally. Therefore, an increase in cruise liners and improved infrastructure at ports will drive the economic growth in the cruise sector. According to WAM reports, Dubai Harbour cruise terminal has witnessed 40% increase in ship calls and expects to have 28% more visitors in the next season.
Dubai’s success is due to its constant dedication in reaching its goals. This growth of Dubai, definitely proves to be a great opportunity for investors to invest in Dubai. Whether you’re seeking a business investment or just a property for your personal use, Dubai has got it all. Therefore, get in touch with Casa Key Real Estate to acquire more details about Dubai Properties and future investments.
