UAE Non-Oil Business Activity Surges to Nine-Month High in December

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 The United Arab Emirates' non-oil private sector recorded its fastest expansion in nine months in December 2024, buoyed by strong domestic demand and increased business activity, according to the latest S&P Global Purchasing Managers’ Index (PMI) report. PMI Highlights Robust Growth The seasonally adjusted UAE PMI climbed to 55.4 in December from 54.2 in November, signaling robust growth well above the 50.0 threshold that separates expansion from contraction. This marked the third consecutive monthly increase, underscoring sustained recovery in the non-oil sector. Key drivers of growth included a notable rise in new business activity. The new orders subindex rose sharply to 59.3 in December from 58.0 in the previous month, reflecting strong domestic demand. Challenges Amid the Growth While domestic demand flourished, export growth slowed, with the export orders subindex dropping to a seven-month low. Additionally, businesses faced mounting backlogs due to capacity constraints,...
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UAE: Abu Dhabi welcomes 24 million visitors by 2023, sets new goal

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UAE

New performance goals have been published for Abu Dhabi by the Department of Culture and Tourism, according to ANI. By the end of 2023, they aim to bring over 24 million tourists to the emirate under this new target.

Notably, this goal was revealed right before the 2023 Arabian Travel Market, which is set to take place from May 1 to 4. The beginning of a "ambitious new chapter for the emirate's tourism sector," according to Saood Abdulaziz Al Hosani, Undersecretary at the Department of Culture and tourist Abu Dhabi.

The eagerness for these new goals follows the boom in Abu Dhabi's tourism industry in 2022, which is already showing signs of recovery from hotel occupancy rates and other measures.

According to ANI estimates, Abu Dhabi has welcomed 18 million visitors overall, an increase of 13% over the previous year. In contrast, the hotel occupancy rate has risen to 70%, above the Middle East average of 67%.

The Emirates have been hospitable to tourists from all over the world. However, India, the Kingdom of Saudi Arabia, the United Kingdom, and the United States have brought in the most foreign visitors. According to Saood Abdulaziz Al Hosani, Undersecretary at DCT Abu Dhabi, "Our ambitious goal to welcome more than 24 million visitors by the end of 2023 builds on healthy growth over the past year."

He continued, "This encouraging performance was enabled through powerful collaborations and the delivery of unforgettable travel and business experiences throughout the entire year, supported by an integrated ecosystem of best-in-class services, infrastructure, and impactful marketing."

Additionally, he claimed that Abu Dhabi has been showcasing the value of partnerships across the tourism industry and the fact that they can all succeed together.


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