Strong bounce-back expected for UAE travel and tourism
In its latest analysis, the Bank of America stated that the UAE travel and tourism sector could bounce back “more strongly” than expected since the COVID-19 crisis — which shut down borders and effectively eviscerated travel and tourism — began last year.
While risk factors remain, there is reason to believe the UAE travel and tourism sector might have a stronger bounce-back than will be seen elsewhere. Among other reasons for this, Dubai will be hosting the World Expo in Dubai later this year. This, coupled with the rollout of multiple, highly effective vaccines, could help revive travel to the region.
Easing of rules
The UAE has recently made a number of decisions that will be sure to result in an uptick in tourism. These include: allowing unmarried couples to share the same accommodation; the easing of rules on the sale of alcohol; the granting of 10-year and retirement visas; and the normalization of relations between the UAE and Israel.
Additionally, a recent announcement stated that foreigners will now be able to fully own their businesses in the country.