Dubai Corporation for Tourism and Commerce Marketing (DTCM) announced a new website and a mobile application at Gitex yesterday to help achieve its goal of 20 million tourists by 2020.
The application combines social media networks, search engines and holiday websites to provide a comprehensive experience and information portal for those interested in travelling to Dubai.
It has also incorporated popular Chinese and Russian social media networks and search engines to cater to a wider audience. The application will be available in English, Russian and German and will be launched before the end of the year.
“Today’s global traveller expects to be connected at all times wherever they go,” said Issam Abdul Rahim Kazim, the chief executive at DTCM. “Technology and connectivity have incredible potential to enhance the tourism experience ...[it] is not only changing how and why we travel, but it also has the potential to influence where we choose to travel.”
It helps tourists to create itineraries for their trips which can be customised to their preferences and likes. Once a booking has been made, users can browse a virtual tour guide on arrival and share their personal travel experiences with friends and family through social media.
It also includes a location enabler. By switching on the Bluetooth, users can receive deals and offers near them without the need to roam and spend money on data packages.
Abu Dhabi's Tourism and Culture Authority (TCA Abu Dhabi) also launched a similar mobile application at Gitex with focus on events taking place in the emirate.
“You can download the application to your tablet or phone and see events happening in arts, lifestyle, culture or education,” said Balqis Al Jabber, the service desk agent at TCA Abu Dhabi. “You can see what is happening and the app can arrange the ticketing by directing you to the main website of the event to buy tickets.”
The app is free to download and is available in Arabic and English. It allows users to add events and alerts to their social media calendars.
“It is for tourists and for people who live in Abu Dhabi to make it easier for them to know what is happening. It is not like before where you have to go on the computer and search and check. Most things are now available on phones or tablets,” said Ms Al Jabber.
Last year the UAE was named among the top 10 fastest growing tourism hotspots by the United Nations World Tourism Organization. The UAE’s hospitality market is set to rise to $7.6 billion by 2016, up from $4.5bn in 2011, driven by a rise in visitors to both Dubai and Abu Dhabi.
“There is a trend in the hospitality industry in general towards using technology,” said Peter Goddard, the managing director at TRI Hospitality Consulting. “Technology has come a long way over the last decade. [These apps] add to the fabric of a more mature tourism destination.”
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Election pledges on migration
CDU: "Now is the time to control the German borders and enforce strict border rejections"
SPD: "Border closures and blanket rejections at internal borders contradict the spirit of a common area of freedom"
The Orwell Prize for Political Writing
Twelve books were longlisted for The Orwell Prize for Political Writing. The non-fiction works cover various themes from education, gender bias, and the environment to surveillance and political power. Some of the books that made it to the non-fiction longlist include:
- Appeasing Hitler: Chamberlain, Churchill and the Road to War by Tim Bouverie
- Some Kids I Taught and What They Taught Me by Kate Clanchy
- Invisible Women: Exposing Data Bias in a World Designed for Men by Caroline Criado Perez
- Follow Me, Akhi: The Online World of British Muslims by Hussein Kesvani
- Guest House for Young Widows: Among the Women of ISIS by Azadeh Moaveni
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 White Lotus: Season three
Creator: Mike White
Starring: Walton Goggins, Jason Isaacs, Natasha Rothwell
Rating: 4.5/5
Fixtures
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The specs
AT4 Ultimate, as tested
Engine: 6.2-litre V8
Power: 420hp
Torque: 623Nm
Transmission: 10-speed automatic
Price: From Dh330,800 (Elevation: Dh236,400; AT4: Dh286,800; Denali: Dh345,800)
On sale: Now
The specs: Hyundai Ionic Hybrid
Price, base: Dh117,000 (estimate)
Engine: 1.6L four-cylinder, with 1.56kWh battery
Transmission: Six-speed automatic
Power: 105hp (engine), plus 43.5hp (battery)
Torque: 147Nm (engine), plus 170Nm (battery)
Fuel economy, combined: 3.4L / 100km
The%20specs
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2025 Fifa Club World Cup groups
Group A: Palmeiras, Porto, Al Ahly, Inter Miami.
Group B: Paris Saint-Germain, Atletico Madrid, Botafogo, Seattle.
Group C: Bayern Munich, Auckland City, Boca Juniors, Benfica.
Group D: Flamengo, ES Tunis, Chelsea, (Leon banned).
Group E: River Plate, Urawa, Monterrey, Inter Milan.
Group F: Fluminense, Borussia Dortmund, Ulsan, Mamelodi Sundowns.
Group G: Manchester City, Wydad, Al Ain, Juventus.
Group H: Real Madrid, Al Hilal, Pachuca, Salzburg.
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