Dubai is launching a campaign to tempt UAE residents and nationals to spend their summers in the emirate, as a means of boosting retail and hotel revenues, rather than jetting off during the low season.
Ramadan also coincides with the height of summer in the UAE this year, which makes it even more challenging to attract tourists.
The campaign, called "Do More in Dubai", is to run from June 15 to September 30, the Dubai Department of Tourism and Commerce Marketing (DTCM) announced yesterday.
It includes discounts at local attractions as well as in Dubai Mall shops, and free accommodation for up to two children under 12 at 77 hotels in the emirate.
"We want to give people here in the UAE options," said Eyad Abdul Rahman, the executive director of the media division and business development at the DTCM.
"If you don't want to go [abroad] - and you cannot afford [travelling] outside - come to Dubai. Dubai is an affordable place … to come and visit."
Hotels generally experience a decline in profitability over the summer in the UAE, as they slash rates to attract guests.
Hotel occupancy levels in Dubai are likely to increase as a result of the campaign, Mr Abdul Rahman said.
He is forecasting an average occupancy of about 85 per cent for the emirate's hotels this summer.
The number of hotel guests in Dubai rose by 9 per cent, to 2.6 million in the first quarter of the year versus last year's first quarter. Meanwhile, hotel revenue surged by 24 per cent to Dh5.38 billion (US$1.46bn) compared with the same quarter last year, according to data from the DTCM.
The unrest of the Arab Spring, marketing efforts, an increase in tourist arrivals from major emerging economies and increased airline capacity all helped to boost Dubai tourism, hoteliers say.
Saudi Arabia was the biggest source market in the first quarter of the year, followed by India, then the United Kingdom, the data showed.
Abu Dhabi has also launched a campaign to attract tourists over the summer.
Last week, the Abu Dhabi Tourism & Culture Authority announced that families travelling to the emirate from other parts of the Middle East and from Africa on Etihad Airways could take advantage of an offer that lets children 11 years and younger fly free when accompanied by a paying adult. Children between the ages of 12 and 16 can fly for half price.
There are also special deals for the summer at attractions in Abu Dhabi as part of the campaign.
rbundhun@thenational.ae
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Top tips
Create and maintain a strong bond between yourself and your child, through sensitivity, responsiveness, touch, talk and play. “The bond you have with your kids is the blueprint for the relationships they will have later on in life,” says Dr Sarah Rasmi, a psychologist.
Set a good example. Practise what you preach, so if you want to raise kind children, they need to see you being kind and hear you explaining to them what kindness is. So, “narrate your behaviour”.
Praise the positive rather than focusing on the negative. Catch them when they’re being good and acknowledge it.
Show empathy towards your child’s needs as well as your own. Take care of yourself so that you can be calm, loving and respectful, rather than angry and frustrated.
Be open to communication, goal-setting and problem-solving, says Dr Thoraiya Kanafani. “It is important to recognise that there is a fine line between positive parenting and becoming parents who overanalyse their children and provide more emotional context than what is in the child’s emotional development to understand.”
The specs
Engine: 2.7-litre 4-cylinder Turbomax
Power: 310hp
Torque: 583Nm
Transmission: 8-speed automatic
Price: From Dh192,500
On sale: Now
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Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.
Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.
“Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.
Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.
“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.
Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.
From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.
Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.
BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.
Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.
Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.
“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.
Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.
“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.
“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”
The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”
The specs
Engine: 6.2-litre supercharged V8
Power: 712hp at 6,100rpm
Torque: 881Nm at 4,800rpm
Transmission: 8-speed auto
Fuel consumption: 19.6 l/100km
Price: Dh380,000
On sale: now
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How to protect yourself when air quality drops
Install an air filter in your home.
Close your windows and turn on the AC.
Shower or bath after being outside.
Wear a face mask.
Stay indoors when conditions are particularly poor.
If driving, turn your engine off when stationary.
Company Profile
Name: Thndr
Started: 2019
Co-founders: Ahmad Hammouda and Seif Amr
Sector: FinTech
Headquarters: Egypt
UAE base: Hub71, Abu Dhabi
Current number of staff: More than 150
Funds raised: $22 million