Tourism sector to benefit from Dubai’s AED500m stimulus package

Published: 25 October 2020 - 9:45 a.m.
By: Josh Corder
Dubai's tourism, entertainment and events sectors are among the industries set to benefit from a AED500 million economic stimulus package.

Under the directives of Vice President and Prime Minister of the UAE and Ruler of Dubai His Highness Sheikh Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of The Executive Council of Dubai HH Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, launched the package to support the emirate’s businesses through the lingering coronavirus period.

For tourism and its related sectors, the freeze on fees for hotel rating, ticket sales, issuing permits and other government-related fees has been extended until the end of the year. The freeze on government permit fees for the retail sector will be also be extended until the end of November 2020.

Additionally, the municipality fee on hotel establishments’ sales will be set at seven percent and the ‘Tourism Dirham Fee’ will return, with hotel establishments and restaurants refunded 50 percent of the fee until the end of 2020.

"We strive to support the business sector while working together to counter the negative effects of the COVID-19 pandemic. The business sector is at the heart of our economy. We are keen to revive the business environment and open new horizons for entrepreneurs and investors in line with Dubai’s future aspirations," Sheikh Hamdan said in a release circulated by state-run agency WAM.

"We are working as one integrated system, and our main goal is to accelerate the pace of recovery and ensure that the economy can tide over this phase. The current circumstances require consistency in the business approaches to ensure continuity and a flexible economic environment that can adapt to global changes," he added.

The new package brings the total value of stimulus packages introduced by the emirates’ government in 2020 to AED6.8 billion.

Click here to add your comment

Please add your comment below
Name
Country
Email
Your email address will not be published
Captcha