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,...

The UAE and Azerbaijan look into promising tourism prospects for improved bilateral relations.

 

Azerbaijan

The Republic of Azerbaijan gained independence on December 26, 1991, and this was acknowledged by the United Arab Emirates. On September 1st, 1992, diplomatic ties between the UAE and the Republic of Azerbaijan were established. Azerbaijan received an accreditation from the UAE ambassador in Ankara in June of 1994. 

Recently, talks between Azerbaijan and the UAE were held to examine present and potential future chances for the growth of tourist relations. During their meeting, Mohammed Al Blushi, the UAE's Extraordinary and Plenipotentiary Ambassador to Azerbaijan, and Fuad Nagiyev, the head of the country's state tourism agency, emphasized the value of enhancing tourism-related cooperation, the advantages of a visa-free policy, and the potential for UAE investments in Azerbaijan's burgeoning tourism sector. 

The expansion of reciprocal visits between the two countries has been considerably aided by the establishment of a visa-free policy between Azerbaijan and the UAE. The number of UAE nationals traveling to Azerbaijan in the first half of 2023 increased noticeably by 23 percent to 18,884 individuals, compared to the same time last year. This increase in visitors demonstrates how Emirati tourists are becoming more interested in Azerbaijan as a travel destination.

The possibility for UAE businesses to invest in the tourism industry of Azerbaijan was also discussed during the meetings of the tourism representatives. For UAE companies wishing to increase their presence in the region, Azerbaijan's diverse natural landscapes, rich cultural heritage, and developing tourism infrastructure offer appealing investment potential. Both nations stand to gain from increasing cooperation and economic expansion in the travel and tourism sector by taking advantage of these prospects.

Direct flights from major UAE cities including Dubai, Sharjah, and Abu Dhabi to Azerbaijan are currently offered 50 times per week, facilitating travel between the two countries. By offering visitors from the UAE practical travel options, this strong air connection contributes to the expansion of the tourism industry. The regularity of these flights demonstrates the high demand for and value of convenient travel links between the two countries. 

The negotiations between Azerbaijan and the UAE highlight the two countries' shared commitment to strengthening tourism ties and looking into potential new areas of cooperation. The tourism sector acts as a bridge for cultural interchange and economic development, with the visa-free policy encouraging more frequent reciprocal visits and a rise in Emirati tourists choosing Azerbaijan as a destination. The readiness to look into investment opportunities and improve air connectivity shows the shared aim to forge a successful and long-lasting collaboration in the tourism industry.   

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