Several listed subsidiaries of the Adani empire, which spans coal, airports, cement and media, collapsed in early trade, with some losing as much as 20%
business1 day ago
Dubai has cemented its position as a global aviation leader, with its airport welcoming 41.6 million passengers in the first half of this year.
This surpasses the 2019 passenger traffic at Dubai International (DXB) — representing “strong momentum for the rest of the year to surpass pre-pandemic figures”, according to a top official.
Sheikh Ahmed bin Saeed Al Maktoum, Chairman of Dubai Civil Aviation Authority and Chairman and Chief Executive of Emirates Airline and Group, credited the visionary leadership of the Dubai Ruler and “his relentless focus on excellence” for the achievement.
Reflecting continued growth momentum for the remainder of 2023, Dubai Airports revised upward its full-year forecast from 83.6 million passengers to 85 million as it prepares for an “exceptionally busy rest of the year”.
Dubai has well and truly recovered from the Covid-19 pandemic, with most of its strategic sectors registering growth levels similar to or better than 2019 levels.
Tourists have returned to pre-pandemic levels, hotels are enjoying near full occupancy and Dubai International continues to be the busiest airport in the world.
The boom in the travel and tourism sector has created thousands of jobs in Dubai. In 2022-23 alone, Emirates Group expanded its workforce by over 20 per cent, while flydubai has also embarked on a massive recruitment drive.
Increased job opportunities were reflected in the emirate’s population, which grew by over 50,000 in the first 6 months.
With the travel, tourism, aviation and hospitality sectors maintaining a good growth pace, the Emirate will continue to see more job creation in the remainder of 2023 and 2024, boosting GDP growth.
Tourists are flocking to one of the world’s safest cities, surpassing 8.5 million in the first half of 2023, exceeding its pre-pandemic figures of 8.36 million in H1 2019.
Similarly, the hospitality sector is also a major beneficiary of this boom, with occupancy levels in hotels reaching nearly 100 per cent during festivals.
Global research firm BMI said recently that Dubai has regained 98 per cent of its pre-pandemic size, driven by multiple sectors.
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