Dubai’s economic and tourism giant key to achieving emirate’s growth ambitions
Department of Economy and Tourism was announced on Saturday in a push to enhance the city’s competitiveness and expand foreign trade
The Dubai government is working towards a constant improvement of its efficiency and relevance in today’s business context.
The increasing importance of tourism to Dubai’s economic ambitions will be further enhanced by the decision to merge Dubai Economy and Dubai Tourism into one powerhouse, according to Scott Livermore, chief economist and managing director, Oxford Economics Middle East.
The joining of the two entities to form Dubai’s Department of Economy and Tourism was announced on Saturday in a push to enhance the city’s competitiveness and expand foreign trade.
The department is tasked with meeting seven targets to further strengthen Dubai’s leading position in tourism and economy and make it the world’s best city to live in and work, according to Sheikh Mohammed bin Rashid Al Maktoum, Ruler of Dubai, Vice President and Prime Minister of the UAE.
Livermore (below) told Arabian Business: “It is important to have a coherent set of policies to ensure Dubai achieves its growth ambition. Policies for tourism must be an integral part of the overall economic vision – and this will be easier to accomplish through the merging of the two departments. For example, business and tourist events will be essential vehicles for showcasing and marketing the UAE. These will be important to synergise with the broader set of economic sectors that Dubai aims to develop.”
Further goals include to expand export markets for local products by 50 percent and increase the number of tourists coming to Dubai by 40 percent to 25 million visitors by 2025.
Bruno Trenchard (below), senior manager – Hotels and Tourism, CBRE Middle East, told Arabian Business: “This specific move is a further commitment to the tourism sector by the government and we expect it to be perceived positively by potential investors – based in or out of the UAE. Sustaining growth for the tourism sector – rather than relying on a recovery from covid-19 impact – will require continuous efforts from all stakeholders in the industry. Creating a more seamless institutional framework is one of the government’s tools towards this growth objective.
“As per its habit, the Dubai government is working towards a constant improvement of its efficiency and relevance in today’s business context.”
Dubai is also aiming to increase the added value of the emirate’s industrial sector by 150 percent in the next five years.
Sheikh Mohammed said: “The newly formed department seeks to support the economic and tourism transformations taking place in the emirate. It will adopt the same competitiveness and efficiency of the private sector and work together with it on various development projects.”
Helal Al Marri, director general of the Tourism Department, has been appointed director general the newly formed department.
Source: Arabian Business