Bookings and prices for flights from India to Dubai soared after Emirates airline said Indians did not need a Covid-19 vaccination certificate to return to the emirate.
In an update on its website and on Twitter on Tuesday, the airline said a "vaccine certificate was no longer a requirement".
But all passengers must carry a negative result from a PCR test taken no more than 48 hours before their flight departs.
Emirates said all travellers must secure pre-approval on the website of the GDRFA immigration authority, which sends passengers a permit to show to airlines when booking.
On Wednesday, the GDRFA website showed that uploading proof of vaccination was now optional. The authority did not comment on the apparent change.
We’ve seen a considerable increase, not just in bookings but inquiries. People are booking tickets from all over India
Godly Babukutty,
Epic Travel managing director
Since then, travel booking websites and agencies have reported a sharp increase in calls, inquiries and bookings.
Mamoun Hmedan, managing director for Mena and India at travel booking website Wego, said travellers had been eagerly awaiting the easing of the ban on flights from India.
"We saw around 170,000 flight searches from India to the UAE from the beginning of August to date, an increase of 100 per cent compared to the month of July," he said.
"We expect to see a further increase in the number of searches in the next couple of weeks."
Godly Babukutty, managing director of Epic Travel in Dubai, said his travel agents were flooded with calls on Wednesday and ticket prices had shot up.
“We’ve seen a considerable increase, not just in bookings but inquiries. People are booking tickets from all over India,” he said.
“On August 5, we flew passengers on Emirates for about Dh800 [$218] but if you see now, the price is Dh2,000 on August 18. On flydubai, you can expect to pay about Dh1,100 this weekend.
“The prices are high as airlines have to factor in the cost of keeping seats empty to maintain social distancing. They will not fly to make losses.
“Relaxing vaccination rules to return is great. There are so many people under 45 years in India who have not been vaccinated because of the rush. This will definitely help younger people to return. Employers in Dubai will be happy as so many of their staff were stuck in India.”
Rayna Day Tours and Travels in Dubai said airfare to Dubai from major Indian cities such as New Delhi and Mumbai had more than doubled.
“We were selling tickets for about Dh700 to Dh800 one-way just before the announcement. It now costs Dh1,800 to Dh1,900. This is for Emirates airline. It’s slightly cheaper for other airlines such as Air India and Spice Jet,” said Kiran Nandeshwar, ticketing officer at the agency.
“People are calling us and inquiring about the rules."
Shammar PP, a customer service agent at Deira Travel And Tourist Agency, said bookings were up because many residents were now looking to come back.
"Bookings are definitely up and tickets cost at least Dh1,000. There's nothing less than this," he said.
"Most people who have bought the tickets from us said getting the GDRFA approval was easy. Many Indians have already started inquiring about tourist visas as they hope authorities will open Dubai to Indian tourists."
But flydubai told The National it was still too early to say how passenger numbers from India would be affected because the rules were constantly updated.
The specs: 2018 Volkswagen Teramont
Price, base / as tested Dh137,000 / Dh189,950
Engine 3.6-litre V6
Gearbox Eight-speed automatic
Power 280hp @ 6,200rpm
Torque 360Nm @ 2,750rpm
Fuel economy, combined 11.7L / 100km
Benefits of first-time home buyers' scheme
- Priority access to new homes from participating developers
- Discounts on sales price of off-plan units
- Flexible payment plans from developers
- Mortgages with better interest rates, faster approval times and reduced fees
- DLD registration fee can be paid through banks or credit cards at zero interest rates
The specs
Engine: 2.0-litre 4-cyl turbo
Power: 201hp at 5,200rpm
Torque: 320Nm at 1,750-4,000rpm
Transmission: 6-speed auto
Fuel consumption: 8.7L/100km
Price: Dh133,900
On sale: now
Global state-owned investor ranking by size
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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.”
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What's in the deal?
Agreement aims to boost trade by £25.5bn a year in the long run, compared with a total of £42.6bn in 2024
India will slash levies on medical devices, machinery, cosmetics, soft drinks and lamb.
India will also cut automotive tariffs to 10% under a quota from over 100% currently.
Indian employees in the UK will receive three years exemption from social security payments
India expects 99% of exports to benefit from zero duty, raising opportunities for textiles, marine products, footwear and jewellery
The specs
Engine: 5.0-litre supercharged V8
Transmission: Eight-speed auto
Power: 575bhp
Torque: 700Nm
Price: Dh554,000
On sale: now
Killing of Qassem Suleimani
Killing of Qassem Suleimani
The lowdown
Badla
Rating: 2.5/5
Produced by: Red Chillies, Azure Entertainment
Director: Sujoy Ghosh
Cast: Amitabh Bachchan, Taapsee Pannu, Amrita Singh, Tony Luke
Ferrari 12Cilindri specs
Engine: naturally aspirated 6.5-liter V12
Power: 819hp
Torque: 678Nm at 7,250rpm
Price: From Dh1,700,000
Available: Now
The specs
- Engine: 3.9-litre twin-turbo V8
- Power: 640hp
- Torque: 760nm
- On sale: 2026
- Price: Not announced yet
Killing of Qassem Suleimani
Sholto Byrnes on Myanmar politics
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TEACHERS' PAY - WHAT YOU NEED TO KNOW
Pay varies significantly depending on the school, its rating and the curriculum. Here's a rough guide as of January 2021:
- top end schools tend to pay Dh16,000-17,000 a month - plus a monthly housing allowance of up to Dh6,000. These tend to be British curriculum schools rated 'outstanding' or 'very good', followed by American schools
- average salary across curriculums and skill levels is about Dh10,000, recruiters say
- it is becoming more common for schools to provide accommodation, sometimes in an apartment block with other teachers, rather than hand teachers a cash housing allowance
- some strong performing schools have cut back on salaries since the pandemic began, sometimes offering Dh16,000 including the housing allowance, which reflects the slump in rental costs, and sheer demand for jobs
- maths and science teachers are most in demand and some schools will pay up to Dh3,000 more than other teachers in recognition of their technical skills
- at the other end of the market, teachers in some Indian schools, where fees are lower and competition among applicants is intense, can be paid as low as Dh3,000 per month
- in Indian schools, it has also become common for teachers to share residential accommodation, living in a block with colleagues
Sam Smith
Where: du Arena, Abu Dhabi
When: Saturday November 24
Rating: 4/5
Real estate tokenisation project
Dubai launched the pilot phase of its real estate tokenisation project last month.
The initiative focuses on converting real estate assets into digital tokens recorded on blockchain technology and helps in streamlining the process of buying, selling and investing, the Dubai Land Department said.
Dubai’s real estate tokenisation market is projected to reach Dh60 billion ($16.33 billion) by 2033, representing 7 per cent of the emirate’s total property transactions, according to the DLD.
Korean Film Festival 2019 line-up
Innocent Witness, June 26 at 7pm
On Your Wedding Day, June 27 at 7pm
The Great Battle, June 27 at 9pm
The Witch: Part 1. The Subversion, June 28 at 4pm
Romang, June 28 at 6pm
Mal Mo E: The Secret Mission, June 28 at 8pm
Underdog, June 29 at 2pm
Nearby Sky, June 29 at 4pm
A Resistance, June 29 at 6pm
