UAE Eyes $122 Billion a Year From Tourism by 2031: Middle East Travel Roundup

In a bid to boost tourism’s contribution to the national gross domestic product to $122 billion a year by 2031, the ruler of Dubai, Sheikh Mohammed bin Rashid Al Maktoum, launched the UAE Tourism Strategy 2031 on Friday. Eyeing an annual increase of $7.4 billion, the tourism startegy aims to attract new investments of $27.2 billion to the tourism sector in the country, and attract 40 million hotel guests in 2031. The strategy includes 25 initiatives and policies to support the development of the tourism sector in the country, according to the government media office. With the return of tourists, the United Arab Emirates' tourism revenues surpassed $5 billion in the first half of this year.

Macro headwinds notwithstanding, airlines based in the Middle East and Africa region would return to profit by the end of the year as demand outstrips capacity, Kamil Al-Awadhi, International Air Transport Association's regional chief said during a conversation with The National. Reporting its earnings for the first half of the fiscal year, Dubai state carrier Emirates Airline reported a net profit of $1.08 billion for the period ending September 30, compared to a loss of $1.6 billion for the same period last year. The shift in capacity from cargo to passenger operations, saw the airline carry 20 million passengers between April 1 and September 30, up 228 percent from the same period last year. Air Arabia, the region’s largest low-cost carrier, also reported solid operational and financial performance for the third quarter ending September 30. Air Arabia reported a net profit of $113 million for the three months ending September 30; an increase of 99 percent compared to $57 million registered in the corresponding third quarter of 2021.

As Oman looks to expand visibility across regional source markets, the destination has signed a partnership agreement with Saudi Arabia-based Almosafer to boost leisure tourism. Under the pa