His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Executive Council of the Emirate of Dubai, stressed the importance of integrating the efforts and roles of various government departments, agencies and institutions in partnership with the private sector within a framework that guarantees the highest levels of efficiency in achieving the goals of the Dubai Economic Agenda D33 launched by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, at the beginning of this year, primarily making Dubai one of the three best economic cities in the world.
This came during the visit made by His Highness, accompanied by His Highness Sheikh Ahmed bin Mohammed bin Rashid Al Maktoum, the second deputy ruler of Dubai, today, to the headquarters of the Department of Economy and Tourism in Dubai, where they were received by the Director General of the Department of Economy and Tourism, Hilal Saeed Al Marri, and the executive directors for the institutions affiliated with the department.
During the visit, His Highness the Crown Prince of Dubai praised the efforts of the Department of Economy and Tourism in Dubai and its initiatives and projects aimed at reaching the highest levels of performance and standard results within the main economic sectors, stressing the need to reach the highest levels of coordination between the various initiatives and projects of the various vital sectors within the system Comprehensive development in Dubai, the most important of which is the economy and tourism sector, as well as the importance of strengthening partnership with the private sector and enabling its companies and institutions to expand the circle of their contribution to achieving Dubai’s aspirations for the future in a process aimed at achieving the highest levels of success within a clear framework through which Dubai established a unique model for development and placed it in Among the best cities in the world to live, work and visit.
His Highness said, “We stand on the verge of a new phase of sustainable economic development aimed at consolidating Dubai’s position as a major global center for trade, investment, knowledge exchange and innovation. There is a need to adapt to the surrounding global changes. Harnessing technology in the service of a flourishing business system that today attracts the best minds and ideas from around the world.” The world.. Strong infrastructure, informed government support, and a flexible and integrated legislative environment that protects the interests of the investor and enables the entrepreneur to grow in a climate that enjoys all the elements of safety and stability are major strengths for Dubai that we continue to strengthen.”
His Highness Sheikh Hamdan bin Mohammed also affirmed Dubai’s continuation in consolidating all the elements that would maintain its leadership in various economic sectors, and His Highness said: “We listen with appreciation to the ideas and proposals of our partners and spare no effort in providing everything that would make their business a success … We work in a team spirit The one is to confirm Dubai’s economic competitiveness and raise the quality of services provided to our visitors from around the world.”
a tour
During a tour of the department’s headquarters, Hilal Saeed Al-Marri, Director General of the Department of Economy and Tourism, His Highness listened to an explanation about the positive results achieved by Dubai at the economic and tourism levels during the year 2022, as well as the first months of this year, as it surpassed its counterparts from international cities.
Al-Marri gave a detailed explanation about the projects and objectives of the Dubai Economic Agenda D33, and explained that Dubai has reached a stage that makes it ready to provide the best to maintain the leadership ranks, and to move steadily towards the future, in light of the vision and directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President of the State. Prime Minister and Ruler of Dubai, may God protect him, and the follow-up of His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Executive Council, and keenness to strengthen cooperation relations with all partners from the public and private sectors to reach the goals of the Dubai Economic Agenda D33.
Strong economic performance
The explanation that His Highness listened to included the most important achievements made by Dubai in the field of foreign direct investment. For the second year in a row, it was able to achieve the first position in the world in terms of attracting new foreign direct investment projects in 2022, to witness a growth of 89.5% on an annual basis in the total foreign direct investment projects announced in 2022, while the total investment capital increased. Foreign direct by 80.3% during the same period. The emirate acquired 4% of the total new foreign direct investment projects in the world, an increase of 1.9% compared to 2021, after recording 837 projects, with Dubai achieving the highest growth in this regard during the past seven years.
The explanation indicated that the total capital flows of foreign direct investment projects in Dubai in 2022 reached 47 billion dirhams (12.8 billion US dollars), compared to 26.07 billion dirhams in 2021, and an estimated 38,447 jobs were created in Dubai in 2022 compared to 24,932 jobs in 2021.
During the explanation provided by His Excellency Hilal Al Marri, His Highness was briefed on the volume of growth witnessed by the emirate in the business establishment movement, which exceeded 30% during the first quarter of the year 2023 compared to the same period of the year 2022, while the growth rate of automatically renewed licenses during the same period reached 14%. % on an annual basis. In terms of increasing government spending, which is one of the targets of the economic agenda; The Government Procurement Program of the Department of Economy and Tourism in Dubai achieved outstanding and exceptional performance during the year 2022, after recording about 1.12 billion dirhams as the total value of contracts and purchases for members of the Mohammed bin Rashid Establishment for the Development of Small and Medium Enterprises, with a growth of more than 21.5% compared to 2021.
Al-Marri also addressed the achievements of the manufacturing sector. Pointing out that the department’s efforts during the past period, specifically during the year 2022, contributed to strengthening the sector’s position in the emirate’s gross domestic product, to account for 8.6%, while it is expected to reach 9% during the next two years, as work is being done to diversify the manufacturing base and supply chains, and adopt more of advanced technology in industrial solutions, thus consolidating Dubai’s position as a global center for industry and export, creating an attractive business environment for local and foreign industrial investments, and increasing its share in the GDP, which is in line with the objectives of Dubai’s economic agenda in this context, specifically – raising the added value of the sector Industry and promoting export growth by focusing on advanced industries, launching the Dubai Green and Sustainable Industry Plan, including applying the latest industry standards and supporting the export of green products.
Tourist superiority
In a related context, His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum and His Highness Sheikh Ahmed bin Mohammed bin Rashid Al Maktoum listened to an explanation of the most important achievements made in the tourism sector, and the initiatives it included, as Dubai surpassed the top three global destinations. Within the pre-2020 stage, which is London, Paris and Bangkok, in terms of travel reservations, in 2022 until the current period of this year. It also managed to raise the hotel occupancy rate from 66 percent in 2019 to more than 78 percent during the last period of 2023, ahead of London, Paris and Bangkok by approximately 11 percent, according to Amadeus data.
Al-Marri pointed out that the average spending in Dubai increased by 6 percent during the last period of this year compared to 2019, so that Dubai maintains its position as the first destination for travel and tourism globally, as the volume of spending by international visitors reached $ 29.4 billion (108 billion dirhams) in 2019. 2022, according to a report by the World Travel and Tourism Council.
The efforts of the Department of Economy and Tourism in Dubai and the marketing campaigns it launched through various means contributed to attracting 57 percent of the total number of visitors of 14.4 million international visitors in 2022. The activities carried out by the Department were to enhance Dubai’s position in the minds of travelers and make them plan to visit Dubai; The great impact on 11 million people in the past year until now, and awareness activities have contributed to making 6 million people think of adding Dubai to the list of destinations they prefer to visit from this year until 2025.
The Emirate of Dubai had received about 6.02 million international visitors during the first four months of this year, an increase of 18 percent compared to about 5.1 million visitors in the same period of 2022, which confirms its attractiveness as a preferred destination to visit, especially after being crowned the best global destination in the world. Travelers Choice Awards 2023 from TripAdvisor, the world’s largest travel platform, for the second year in a row.
Helal Al-Marri stressed the continuation of work during the year 2023 and beyond by following multi-faceted strategies, maintaining the attractiveness of Dubai International as a preferred destination for travelers, and always being in their minds when making the travel decision, which includes presenting the destination for everything that is new and distinctive, diversifying markets and geographical regions, As well as launching global marketing campaigns to reach target groups around the world, including the “Dubai Serves” campaign, as well as the “Gastronomy Always on” campaign, to promote the rich and varied food scene in Dubai, with a focus on diversity, added value, originality and experience, and the launch of the second edition. From the Dubai Michelin Guide. The “Children Free” campaign was launched at the beginning of this year to attract families and their young children during the summer season.
The department also continues to organize, improve and develop holiday homes, as it is one of the various accommodation options designed to suit the different tastes and budgets of visitors to Dubai. 45.5% in terms of the number of units and 40.7% in terms of the number of rooms compared to the end of March 2022. During the first quarter of this year, vacation homes received more than 137,144 visitors. The QR Code initiative was adopted for holiday homes, with the aim of strengthening the sector’s governance, ensuring transparency, and raising the levels of confidence of visitors and guests.
His Excellency concluded, “We will continue to build on the achievements that have contributed to consolidating the emirate’s position among the best economic cities in the world, which is in line with the first strategic objective of the Dubai Economic Agenda D33, which is to place the emirate among the 3 best economic cities in the world in light of the wise directives of our wise leadership.” …to make Dubai the fastest, safest and most connected city in the world; the best business environment for national and international investments and companies; the leading global city in the digital economy, and a global center for a green, sustainable and diversified economy.”
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