Sharing economy will drive Dubai’s tourism industry

Sharing economy is not only a buzzword as was possibly considered years ago. Today’s attributes of the sharing economy can be seen on a daily basis in all parts of the planet. These sharing economy trends, being introduced through firms as Airbnb and Uber, have also arrived in the GCC, having a particular impact on the UAE’s tourism and travel industries.

For instance, let’s look at Airbnb’s impact on Dubai’s hospitality sector. In 2016, Dubai’s Department of Tourism and Commerce Marketing (Dubai Tourism) officially signed an agreement with Airbnb to regulate and further promote the idea of holiday homes in Dubai. By adding additional holiday homes to Dubai’s existing supply of hotel rooms and managed hotel apartments market through Airbnb, business as well as leisure travellers enjoy a greater choice of options for booking accommodation.

Further, Airbnb homes can be attractive for price-sensitive business and leisure travellers as rates for serviced apartments and hotels often exceed rates of holiday homes – this is particularly so during key exhibitions and conferences in Dubai.

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Source: Khaleej Times

Dubai properties will see new growth in 2017

Last year was tough for most global economies due to many important global events, including the US elections, Brexit and the gravest refugee crisis witnessed in modern times. Collectively, these events proved burdensome for the global community as a liquidity crunch overshadowed world markets.

Dubai and its real estate sector also suffered from the slowdown in economic activities as business moved at a below-average pace throughout the year. But the fortunes of this Middle Eastern port city’s realty sector are looking to change this year as real estate developers initiate mega-projects in anticipation of World Expo 2020.

The Dubai government introduced new regulations in the realty sector to tackle the threat of a global financial crunch. As of now, the emirate’s property market is expected to remain steady in the next 12 months owing to big projects being undertaken in the property sector. Most of these projects initiated in Dubai are being developed to meet the demands of World Expo 2020.

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Source: AME info

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