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Dubai - The Future Of Travel And Investment

01 Feb, 2023
Dubai - The Future Of Travel And Investment

The future of travel is looking extremely bright as the pandemic took away about three years of our lifetime. It should be over by now, and things should be getting back to normal considering the natural immunity that most people developed during all this time, the viable treatments, and various vaccines which have been created all over the world, more or less effective.

People have been dreaming about traveling during the lockdowns, and when things finally came back as close to normality as possible, opportunities arose once again.

People started traveling again for relaxation, and others are doing it for business interests. For instance, a lot of wealthy investors have been searching for the best location in which to invest the fortunes that they have been amassing during their whole lives.

As we have already said by now, the UAE is one of the most favorite nations that wealthy people all over the world have chosen to invest in for their future and one of their kids.

Dubai is now a real hub of the world regarding tourism and real estate as well. The real estate industry has been going great here, even during the pandemic, and the future seems brighter than ever before. The nation is making efforts to draw as many foreign investors as possible, and the authorities are implementing all kinds of attractive measures for wealthy foreign individuals to come and invest in Dubai and all over the UAE.


Best reasons to invest in Dubai

Dubai is now a global hub for travel and the real estate industry. It's worth noting that there's an exciting path that the city took in its ambitious economic predictions, which involves massive tourism potential and the location's ability to attract international visitors. 

According to the latest reports, it seems that Sheikh Mohammed bin Rashid Al Maktoum, vice president and prime minister of the UAE and ruler of Dubai, launched the Dubai Economic Agenda — D33. This is extremely important due to its ambitious goal of doubling the size of Dubai's economy over the next decade. 

The massive project has economic targets of $8.7 trillion over the next ten years, and the Agenda also aims to establish Dubai's position among the top three global cities. 

It's also important to note the fact that one of the essential priorities in the D33 Agenda is to make Dubai one of the top three international destinations for tourism and business. The authorities plan to do this by providing a globally competitive environment for business. They also want to achieve this goal by driving down the cost of doing business across a number of sectors. 

The Agenda is also involving the launch of innovative projects to help make Dubai the world's best city to live and work in. it also plans to drive sustainable economic growth through innovative approaches. "Dubai will rank as one of the top four global financial centers with an increase in foreign direct investment to over $177 billion over the next decade and an annual $27.2 billion contribution from digital transformation," the Dubai ruler said.

The tourism authorities are making massive efforts to simplify the process of homeowners and operators buying permits in order to convert their homes into holiday homes. This is probably one of the main reasons why the tourism authorities have announced various updates to the holiday home system. 

This is an online system that allows owners and operators to book an inspection appointment for the registered units and also provides classification service for the units in compliance with the regulations related to holiday rentals in the emirate. 

We have to also consider the fact that there is a growing number of visitors booking longer stays in the emirate. In this direction, it's essential to mention the fact that Raki Phillips, CEO of Ras Al Khaimah Tourism Development Authority, said, "We want to tap into this trend and have therefore updated our holiday homes rental system to make it even easier for homeowners and operators to register, organize permits for and convert their units." Ras Al Khaimah welcomed over 1.13 million overnight arrivals in 2022, an increase of 15.6 percent compared to 2021. In 2019, the emirate received around 1.1 million arrivals.

Among the best reasons that people should consider when making the critical decision to relocate or invest their life savings is the fact that the UAE has been working really hard to achieve a greener future as well. As you probably know by now, sustainability and green living are some fundamental issues that all nations are addressing in 2023. This is also a crucial goal for the UAE as well and enabling more sustainable growth is a vital target for Dubai as well. 

As we already reported, the UAE is shining at the beginning of 2023, just as it did during the whole of 2022, and Dubai is genuinely a world hub for the latest technologies andtourism. The city highlights the nation's efforts to become a location of the future where investors are more than welcome. The country has been making massive efforts in this direction, and the vast influx of investors who are coming here from all over the world is enough to highlight the success of such moves.

We suggest that you check out our previous article in order to learn more about this. 


Traveling to Dubai

Dubai and the future of travel have been an extremely important topic for the country, and it has been addressed at the Global Forum East 2022 at the end of the previous year. 

It's been revealed that Dubai officials are extremely bullish on the city's potential to become a bigger tourist destination. This is happening especially since it has been more than successful at attracting more and more repeat visitors, according to the latest reports. 

Dubai seems to have a plan in order to play a massive role in the UAE's aim to attract 40 million visitors annually by 2023. 

Four panelists — Dubai Airports CEO Paul Griffiths, Kerzner International CEO Philippe Zuber, Emirates Airline Chief Commercial Officer Adnan Kazim, and Dubai Corporation for Tourism and Commerce Marketing CEO Issam Kazim — discussed at the recent Skift Global Forum East in Dubai what local tourism officials need to do to continue to attract visitors. You can watch the video for yourselves below.

Dubai real estate market

The real estate market in the UAE has been seeing massive predictions for this year, and people are getting more and more optimistic at the end of this pandemic. Dubai has been really flourishing lately, and this is something that experts have been seeing happening even in the past few years, despite the world seeing so many crises regarding healthcare and geopolitical issues as well. Not to mention the economic ones that are plaguing the whole world, especially since the Russia-Ukraina war. This has been affecting the whole planet since it started, and it will probably continue for a long time considering how things are going.

It's true that some nations have been affected more than others, but it really seems like the UAE has been able to recover pretty fast. Dubai has become a chosen location by a lot of people all over the world as a vacay destination and, most importantly, as a location for the best investments out there. Not too long ago, we addressed traveler expectations and the industry's efforts and perceptions. This is an important issue considering that the country is doing its best to attract more and more investors with a lot of money from abroad – this is why the trends are vital these days in order to see what the consumer really wants. 

We analyzed the perceptions of the industry as well as the most important expectations of consumers and people who travel and invest. 

According to the latest reports, Expedia Group's Traveler Value Index 2023 examines the most significant changes taking place within the industry — from the perspective of both consumers and travel professionals — and also offers actionable insights to guide decision-makers in the year ahead. We suggest that you check out the previous blog post that we shared in which we examine the travel industry, which has been ramping up during the past years, people's preferences, some important trends that are important to note to be only temporary, and some other factors that are fluctuating.

New reliable firms in the industry of tourism and real estate

There are more and more businesses in the UAE which are specialized in tourism and real estate, and this is making things a lot easier for investors. Having a reliable partner in such directions is essential to be successful, and Starling Properties understood this. For such a reason, the firm strives to be the number one go-to firm for people who are looking to relocate to Dubai or/and invest their wealth there.

Starling Properties is a premier real estate brokerage in Dubai and the surrounding areas, specializing in luxury properties. Our team of experienced professionals is committed to providing clients with the highest level of customer service tailored to their individual needs.

The team of pros at Starling understands your unique requirements and strive to meet them with the utmost care and attention. The amazing people who are working at Starling Properties include experienced real estate professionals, each with an amazing set of skills and knowledge, providing clients with the best possible advice and services. It’s also important to note the fact that they have an extensive portfolio of luxury properties, including apartments, villas, and commercial spaces.

The impressive team of agents who work at the firm is knowledgeable about the local real estate market, and we are committed to providing our clients with the best possible service. The firm does everything in its power to ensure that your experience is as effortless and stress-free as possible. Starling Properties is proud to be a trusted partner for those seeking to invest in luxury real estate in Dubai and the surrounding areas.

At Starling Properties, the extended team of experts which you can check out on the official website, is dedicated to helping our clients find the perfect home or property for their needs and lifestyle. The professionals know exactly how to guide you every step of the way and are confident that they will definitely exceed your expectations.