Studies showed
that the Gulf emirate received more than 12.08 million international visitors
during the first nine months of this year, an increase of 4.3 percent compared
to the same period last year, according to Dubai Tourism and Commerce Marketing
Department. The number of visitors from major and emerging markets continues to
rise, with a positive impact on Dubai's GDP.
According
to statistics released yesterday, Dubai continues to seek more visitors from
major markets such as India, Saudi Arabia, Britain, and Oman, as well as China,
where the number of visitors from these five countries, during the first nine
months of 2019, five million visitors.
India has
maintained its leading position in the main market with more than 1.39 million
visitors in the first nine months of this year, with Saudi Arabia growing by 2
percent, with Dubai receiving 1.25 million Saudi visitors in the past nine
months.
The UK
maintained its third position in the major markets with 851,000 visitors,
despite the volatility caused by the Brexit and the devaluation of the pound
against the US dollar.
Dubai
continues to attract visitors from China in large numbers, with China ranked
fifth in the major markets, and increased by 14 percent by receiving 729
thousand visitors during the first nine months of 2019. The United States of
America increased by 1 percent, with Russia ranked sixth and seventh with 481
and 433,000 visitors, respectively, in the first nine months of 2019.
With
regard to the top 10 export markets to Dubai, Germany, and Pakistan maintained
eighth and ninth places, with 392 and 378,000 visitors respectively. The
Philippines is back with a 29 percent increase in the 352,000 visitors. As the
number of visitors from Saudi Arabia and Oman continues to rise, the GCC region
has consolidated its position by growing its share of visitors to 20 percent,
tied with Western Europe.
- Dubai's economy grows by 2.1% in the first half of the year
Dubai's
economy grew by 2.1 percent in the first half of this year, compared to the
same period last year, when Dubai grew 1.7 percent, according to statistics
released yesterday. The emirate's economy achieved gross domestic product at
constant prices of 208.2 billion dirhams ($ 56.6 billion) during the first six
months of 2019.
The
economic performance report for the Emirate of Dubai for the first half of
2019, issued by the Dubai Statistics Center, showed that the wholesale and
retail trade activity continues to lead the economic activities in terms of
contribution to GDP, which contributed 25.5 percent, achieving an added value
of 53 billion dirhams. $ 14.4 billion), a growth of 3.3 percent over the same
period in 2018, pushing the overall economy to grow by 0.8 percentage points.
Trade
activity is considered to be an influential activity in the various activities
in the emirate, and the most influential in the growth. This activity enjoys
the advantage of economies of scale. The advantage of economies of scale gives
these enterprises the ability to reduce costs and gives them a highly
competitive advantage that supports the flexibility of this activity and
enables it to adapt to economic conditions.
Transport
and warehousing activity grew by 6.2 percent in the first half of 2019
compared to the same period last year, with an added value of AED 26.4 billion
($ 7.1 billion), driving the overall economy towards growth of 0.8 percentage
points. All activities that are involved in land transport of individuals and
goods, water transport activities, handling and storage activities, postal
activities, and air transport activities of individuals and goods and
supporting activities. The air transport activity is considered the most
contributing activity in the transport and storage sector due to the volume of
its production. Other activities are clearly private key activities driving
demand such as tourism and trade activities, which emphasizes the integration
of activities in the Emirate of Dubai's economy, and highlights the impact of
diversity on the economic growth achieved.