Dubai’s tourism back on track as visitors exceed pre-coronavirus level

The city achieved a 20 percent year-on-year growth in terms of visitors in the first half of 2023. Reuters/File
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Updated 10 August 2023
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Dubai’s tourism back on track as visitors exceed pre-coronavirus level

RIYADH: Dubai’s tourism sector achieved a significant milestone in the first half of 2023 by welcoming 8.55 million international overnight visitors, surpassing pre-pandemic levels of 8.36 million recorded in the first half of 2019.   

This represents the city’s strongest first-half performance in its history, the Emirates News Agency, also known as WAM, reported citing data from Dubai’s Department of Economy and Tourism.

The city achieved a 20 percent year-on-year growth in terms of visitors in the first half of 2023. This further consolidates the emirate’s aspiration, under the Dubai Economic Agenda 2033, to rank among the world’s top three cities.   

The agenda has outlined a new trajectory for the city to further consolidate its status as one of the world’s top urban economies and tourism destinations. In addition, it reaffirms the emirate’s position as the fastest-recovering destination globally.

The record performance in the first half of the year also surpasses the UN World Trade Organization’s global projection of 80 to 95 percent recovery to pre-pandemic levels for international tourist arrivals in 2023.

“The remarkable surge in international visitors witnessed by Dubai in the first half of 2023 further demonstrates its emergence as one of the brightest spots not only in the worldwide tourism sector but also the broader global economic landscape,” said Sheikh Hamdan bin Mohammed bin Rashid Al-Maktoum, crown prince of Dubai and chairman of Dubai Executive Council.

He added: “While the growth of international visitation reinforces Dubai’s rise as a major global tourism destination, it also signifies its status as a pivotal hub for trade, investment, and enterprise.”

During the first half of 2023, Western Europe emerged as a significant contributor to Dubai’s tourism sector, accounting for 20 percent of total international tourists.

Meanwhile, the Gulf Cooperation Council and the Middle East and North Africa regions jointly represented 28 percent of the regional tourism influx.

South Asia made up 17 percent of the overall visitors to Dubai, followed by Russia, the Commonwealth of Independent States, and Eastern Europe with a collective 14 percent.

Additionally, North Asia and Southeast Asia together added 8 percent, while contributions from the Americas stood at 7 percent. Africa and Australasia chipped in with 4 percent and 2 percent, respectively.


GDP growth
Dubai’s gross domestic product also grew 2.8 percent year on year to reach 111.3 billion dirhams ($30 billion). 
The wholesale and retail trade sectors were the largest contributors to the growth accounting for 22.9 percent of the GDP. 


Closing Bell: Saudi main index extends gains as market opens wider to foreign investment

Updated 02 February 2026
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Closing Bell: Saudi main index extends gains as market opens wider to foreign investment

RIYADH: Saudi Arabia’s Tadawul All Share Index rose on Monday, gaining 153.61 points, or 1.38 percent, to close at 11,321.09.

The total trading turnover of the benchmark index was SR5.85 billion ($1.56 billion), as 207 of the listed stocks advanced, while 55 retreated.

The MSCI Tadawul Index increased, up 21.20 points or 1.41 percent, to close at 1,524.18.

The Kingdom’s parallel market Nomu gained 278.13 points, or 1.17 percent, to close at 24,013.03. This comes as 43 of the listed stocks advanced, while 29 retreated.

The best-performing stock was Saudi Pharmaceutical Industries and Medical Appliances Corp., with its share price surging by 7.26 percent to SR28.94.

Other top performers included Rasan Information Technology Co., which saw its share price rise by 6.51 percent to SR144, and Knowledge Economic City, which saw a 6.25 percent increase to SR13.09.

On the downside, the worst performer of the day was Najran Cement Co., whose share price fell by 2.11 percent to SR6.49.

Almasane Alkobra Mining Co. and Saudi Cable Co. also saw declines, with their shares dropping by 2 percent and 1.88 percent to SR103.10 and SR166.80, respectively.

On the announcement front, Riyad Bank has announced its annual financial results for 2025, with the total income from special commission of financing reaching SR24.1 billion, while net income from special commission of financing amounted to SR12 billion.

In a statement on Tadawul, the bank said: “Net income increased by 11.7 percent mainly due to an increase in total operating income and a decrease in total operating expenses.”

The bank further noted that the rise in total operating income was primarily driven by increased revenue from fees and commissions, trading activities, special commissions, gains on non-trading investments, and other operating sources. This growth was partially tempered by declines in exchange and dividend income.

“Net provision of expected credit losses and other losses decreased by 15.8 percent due to a decrease in impairment charge of credit losses and impairment charge for other financial assets, partially offset by an increase in impairment charge for investments,” it added.

RIBL’s share price closed at SR18.18 on the main market, marking a 1.43 percent increase.