The Abu Dhabi Global Market, one of the region's fastest-growing financial hubs, issued new tourism regulations that aim to boost the tourism infrastructure and offer an improved regulatory framework for hotels and tourism establishments in ADGM.
The new ADGM Hotel and Tourism Regulations 2023 also adopted the Abu Dhabi onshore tourism legislation, including the regulations regarding hotels and tourism sectors administered by the Department of Culture and Tourism, into ADGM’s legislative framework.
As a result of adopting the onshore legislation, the DCT will be responsible for undertaking all regulatory responsibilities including supervision, monitoring and enforcement obligations relating to hotels and tourism establishments in ADGM.
However, the ADGM’s Registration Authority retains the right to issue commercial licences to hotels and tourism establishments operating within ADGM’s jurisdiction and issue other relevant permits, according to a statement.
ADGM, opened in 2015, aims to connect the emirate with international markets in the Middle East, Africa, South Asian and East Asian economies, and is part of Abu Dhabi's efforts to diversify its economy.
It expanded its assets under management by 56 per cent last year as it welcomed more businesses and expanded its workforce.
“ADGM has signed an agreement for co-operation and delegation with the DCT to benefit from their expertise and extensive knowledge in regulating and monitoring hotels and tourism establishments operating within ADGM’s jurisdiction,” said Hamad Sayah Al Mazrouei, chief executive of ADGM Registration Authority.
“The adoption of the Abu Dhabi onshore hotel and tourism legislation within ADGM legislation provides hotel and tourism operators with comfort and assurance that ADGM and Abu Dhabi, as a whole, are aligned in terms of regulating the hotel and tourism sector”, he added.
Abu Dhabi is working to diversify its economy – as part of wider plans to reduce the economy's reliance on oil – with a focus on growing strategic industries including tourism, manufacturing, advanced technology and logistics.
The emirate plans to increase the tourism sector's contribution to its gross domestic product to 12 per cent by 2030, up from 5 per cent this year, as the emirate continues to promote itself as a travel and culture destination.
In April, Abu Dhabi also launched a new fund aimed at further growing its meetings, incentives, conventions and exhibitions (Mice) industry.
The UAE capital is intensifying its promotion and marketing campaigns and is "on track" to meet its target of attracting 24 million visitors this year, up from 18 million last year, Saood Al Hosani, undersecretary of the emirate's Department of Culture and Tourism, told The National last month.
The new tourism regulations aim to ensure that all entities established in ADGM and licensed to practise “any business or activity related to the provision of a tourist, recuperation or recreational service to the public, including, but not limited to, hotels, resorts, restaurants, hotel apartments, holiday homes, cinemas, theatres, museums, tourist tours organisers, tourist transport companies and agencies, tourism offices, different recreational and refreshment facilities” abide by the onshore legislation’s requirements, the statement said.
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What can victims do?
Always use only regulated platforms
Stop all transactions and communication on suspicion
Save all evidence (screenshots, chat logs, transaction IDs)
Report to local authorities
Warn others to prevent further harm
Courtesy: Crystal Intelligence
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Teaching your child to save
Pre-school (three - five years)
You can’t yet talk about investing or borrowing, but introduce a “classic” money bank and start putting gifts and allowances away. When the child wants a specific toy, have them save for it and help them track their progress.
Early childhood (six - eight years)
Replace the money bank with three jars labelled ‘saving’, ‘spending’ and ‘sharing’. Have the child divide their allowance into the three jars each week and explain their choices in splitting their pocket money. A guide could be 25 per cent saving, 50 per cent spending, 25 per cent for charity and gift-giving.
Middle childhood (nine - 11 years)
Open a bank savings account and help your child establish a budget and set a savings goal. Introduce the notion of ‘paying yourself first’ by putting away savings as soon as your allowance is paid.
Young teens (12 - 14 years)
Change your child’s allowance from weekly to monthly and help them pinpoint long-range goals such as a trip, so they can start longer-term saving and find new ways to increase their saving.
Teenage (15 - 18 years)
Discuss mutual expectations about university costs and identify what they can help fund and set goals. Don’t pay for everything, so they can experience the pride of contributing.
Young adulthood (19 - 22 years)
Discuss post-graduation plans and future life goals, quantify expenses such as first apartment, work wardrobe, holidays and help them continue to save towards these goals.
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UAE currency: the story behind the money in your pockets
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What the law says
Micro-retirement is not a recognised concept or employment status under Federal Decree Law No. 33 of 2021 on the Regulation of Labour Relations (as amended) (UAE Labour Law). As such, it reflects a voluntary work-life balance practice, rather than a recognised legal employment category, according to Dilini Loku, senior associate for law firm Gateley Middle East.
“Some companies may offer formal sabbatical policies or career break programmes; however, beyond such arrangements, there is no automatic right or statutory entitlement to extended breaks,” she explains.
“Any leave taken beyond statutory entitlements, such as annual leave, is typically regarded as unpaid leave in accordance with Article 33 of the UAE Labour Law. While employees may legally take unpaid leave, such requests are subject to the employer’s discretion and require approval.”
If an employee resigns to pursue micro-retirement, the employment contract is terminated, and the employer is under no legal obligation to rehire the employee in the future unless specific contractual agreements are in place (such as return-to-work arrangements), which are generally uncommon, Ms Loku adds.
