Tag: Abu Dhabi

Abu Dhabi to deliver Tourism Strategy 2030 to ensure emirate’s sustainable growth as a global destination

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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His Highness Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Chairman of the Abu Dhabi Executive Council, has approved the new Tourism Strategy 2030 for the emirate. Spearheaded by the Department of Culture and Tourism – Abu Dhabi (DCT Abu Dhabi), the ambitious blueprint signals a new era of expansion and strategic development in the travel and tourism sector.

The Tourism Strategy 2030 initiative seeks to boost visitor numbers from nearly 24 million in 2023 to 39.3 million by 2030 (overnight and same-day), with a 7% year-on-year growth. Moreover, it plans to significantly elevate the tourism and travel sector’s contribution to the UAE’s GDP, raising it from approximately AED 49 billion in 2023 to AED 90 billion annually by 2030.

The Strategy will generate an estimated 178,000 new jobs by 2030 as the entire tourism infrastructure develops to meet this demand. It intends to almost double international overnight visitors from 3.8 million in 2023 approximately to 7.2 million in 2030, expand hotel room availability from 34,000 in 2023 to 52,000 by 2030, and further enhance the holiday home segment to diversify accommodation options.

H.E. Mohamed Khalifa Al Mubarak, Chairman of DCT Abu Dhabi, said: “The Tourism Strategy 2030 marks a pivotal moment in Abu Dhabi’s transformative journey, representing a vital lever in our ongoing evolution. Delivered alongside our key partners, the Strategy underscores our steadfast commitment to fostering sustainable growth and strategic development in the travel and tourism sector. Through carefully crafted initiatives that will unlock economic opportunities, amplify our distinctive culture, and enhance the emirate’s value proposition, we are laying the foundation for a vibrant and prosperous future that transcends generations.”

A member of the Abu Dhabi Executive Council, His Excellency Mohamed Khalifa Al Mubarak is a prominent Emirati leader overseeing the growth of Abu Dhabi’s cultural, entertainment, real estate, and tourism sectors.

In 2016, His Excellency was appointed the Chairman of the Department of Culture and Tourism Abu Dhabi (DCT Abu Dhabi), where he oversees the preservation of the emirate’s heritage and history whilst inspiring its dynamic, world-leading approach to creating a recognised cultural capital, where culture is a driver of social and economic development.

AI Mubarak is accountable for ensuring that Abu Dhabi is a top-of-mind destination for all leisure and business travelers, growing Abu Dhabi’s MICE share, and partnering with global IPs to bring the best of international entertainment to the emirate as well as high profile sporting events including F1, NBA, and UFC.

One of the major achievements in Al Mubarak’s journey at DCT Abu Dhabi is the development of Saadiyat Cultural District – a curated destination for inspiration, artistic expression and cultural dialogue, that is currently home to Louvre Abu Dhabi and once finished will house, Zayed National Museum, Guggenheim Abu Dhabi, The Natural History Museum Abu Dhabi and teamLab Phenomena Abu Dhabi.

Al Mubarak serves as Chairman of Aldar Properties PJSC, the leading real estate developer in Abu Dhabi responsible for some of the most iconic landmarks and pioneering architecture in the emirate, including residential, commercial, and retail assets.

Al Mubarak is Chairman of Miral, the leading creator of immersive experiences in Abu Dhabi, where he has led the transformation of key areas within the emirate, including Yas Island, and has developed strategic partnerships such as the one established with Warner Bros. World Abu DhabiTM.

Al Mubarak is the President of the Abrahamic Family House and a member of the Higher Committee of Human Fraternity, where he is joined by international religious leaders, educational scholars, and cultural leaders across the world, to support and spread the values of mutual respect and peaceful coexistence.

Al Mubarak serves as Vice-Chair on the Foundation Board of ALIPH, the international alliance for the protection of heritage in conflict areas.

Al Mubarak is a graduate of Northeastern University (Boston, USA), with a double major in Economics and Political Science.

Fostering sustainable growth across four strategic pillars

To achieve the Strategy’s goals, 26 key initiatives have been identified across four strategic pillars: Offering and City Activation; Promotion & Marketing; Infrastructure & Mobility; and Visa, Licensing, and Regulations. These initiatives are key to realizing ambitious tourism targets and ensuring sustainable sectoral growth.

The initiatives will be unlocked through the collective vision of DCT Abu Dhabi, the Abu Dhabi Department of Economic Development (ADDED), the Department of Municipalities and Transport (DMT), Abu Dhabi Airports Company (ADAC), and other key government and private stakeholders, who play a strategic role in bringing Abu Dhabi’s tourism vision to life.

The first pillar, Offering and City Activation, aims to enhance guest experiences with new cultural sites, theme parks, retail options, and hotels. It will also diversify dining with culinary schools and training programs.

Simultaneously, DCT Abu Dhabi will expand Promotion and Marketing efforts from 11 to 26 markets, fostering synergy within Abu Dhabi’s tourism ecosystem and forming global partnerships to create targeted content.

The Infrastructure and Mobility pillar of the Strategy will expand hotel room availability, including accessible and luxury options, glamping, and farm stays. Collaborations will enhance roads, public transport, and infrastructure, simplifying travel and increasing flight seat capacity.

Streamlined Visa, Licensing, and Regulation processes, in collaboration with government agencies, will improve the visitor experience and ease of doing business, attracting investment.

Building on the success of 2023

In 2023, Abu Dhabi’s tourism sector flourished, welcoming nearly 24 million visitors, with a 27% increase in hotel guests and a 54% rise in international visitors, contributing approximately AED 49 billion to the UAE’s GDP.

In 2023, Abu Dhabi attracted a surge of international travelers, led by key markets such as India, Russia, the UK, China, and Saudi Arabia. With over 150 vibrant events, pristine beaches, and rich landscapes, the emirate’s culture also played a pivotal role. Historical sites like Qasr Al Hosn, Qasr al Watan, and the Sheikh Zayed Grand Mosque drew over 8.7 million visitors. Museums, cultural festivals, and art exhibitions thrived, with record attendance at the Louvre Abu Dhabi and the inaugural Manar Abu Dhabi exhibition showcasing diverse offerings.

Business tourism saw a 44% increase in MICE (Meetings, Incentives, Conferences, and Exhibitions) events, attracting nearly a million delegates (960,000) to 2,477 events. This boosted the food and beverage sector with a 21% revenue increase. Major entertainment events like the MOTN Festival and the Formula 1 Grand Prix, alongside cultural celebrations like the Al Hosn Festival and the Liwa Festival, solidified Abu Dhabi’s status as a global leisure and tourism hub.

About the Department of Culture and Tourism – Abu Dhabi:

The Department of Culture and Tourism – Abu Dhabi (DCT Abu Dhabi) drives the sustainable growth of Abu Dhabi’s culture and tourism sectors and its creative industries, fuelling economic progress and helping to achieve Abu Dhabi’s wider global ambitions.

By working in partnership with the organisations that define the emirate’s position as a leading international destination, DCT Abu Dhabi strives to unite the ecosystem around a shared vision of the emirate’s potential, coordinate effort and investment, deliver innovative solutions, and use the best tools, policies and systems to support the culture and tourism industries.

DCT Abu Dhabi’s vision is defined by the emirate’s people, heritage and landscape. We work to enhance Abu Dhabi’s status as a place of authenticity, innovation, and unparalleled experiences, represented by its living traditions of hospitality, pioneering initiatives and creative thought.

Click here to to learn more about the Tourism Strategy 2030.

Note: This is a partnered post.

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Abu Dhabi-backed firm in talks to invest in OpenAI chip venture, FT reports

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Abu Dhabi’s state-backed investment firm MGX is in early-stage discussions to invest in ChatGPT-maker OpenAI’s chip venture, the Financial Times reported on Friday, citing two sources.

MGX, a technology investment company with Abu Dhabi’s Mubadala and artificial intelligence firm G42 as founding partners, was only launched earlier this week.

MGX and OpenAI did not immediately reply to Reuters’ request for comment.

The report follows an earlier FT story that said Singapore’s Temasek Holdings was in talks to invest in OpenAI.

The UAE’s AI minister Omar Sultan Al Olama told the FT that he also sees xAI owner Elon Musk doing something AI-related in the country.

“I don’t think it’s far out for him (Musk) to do something here,” Olama told the FT.

AI startups attracted one out of every three dollars invested last year in the United States, and OpenAI’s ChatGPT grabbed the spotlight as startups raced to develop AI technology.

The launch of OpenAI’s ChatGPT in late 2022 brought attention to generative AI technologies, spurring billions in investments on chips and servers required to support the adoption of such applications.

Also Read: Europe adopts AI law — everything you need to know

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RITES eyes revenue growth recovery next year after six straight quarters of underperformance

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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RITES, formerly known as Rail India Technical and Economic Service, aims to break its streak of weak revenue growth next year, after failing to meet market expectations for six consecutive quarters.

“In quarter three (Oct-Dec 2023), we could achieve our vision of being a one order a day company; we got 100-plus orders in quarter three, totaling to more than ₹600 crore. So as these orders mature into revenue in the coming FY, we would see a substantial growth in our EBITDA vis-a-vis our base line of 2022-23 and 2023-24 will be a year of consolidation,” the company’s Chairman and Managing Director, Rahul Mithal told CNBC-TV18.

RITES, which works under the Ministry of Railways in India and deals with exporting train equipment and spare parts for Indian Railways, was granted the “Navratna” status by the government in October 2023.

Mithal also talked about the recent collaboration with Abu Dhabi Ports Group for logistics infrastructure development. He sees it opening up huge opportunities for the company in the UAE, the upcoming India-Middle East-Europe Economic (IMEA) Corridor, South East Asia, and Africa.

Through this collaboration, RITES will make use of its rich expertise in transport infrastructure development and project management, with AD Ports Group’s extensive portfolio of world-class ports, logistics solutions and vertically-integrated business clusters.

AD Ports Group is a leading facilitator of global trade and logistics infrastructure. It is the developer and regulator of ports and related infrastructure in Abu Dhabi, the United Arab Emirates.

“Each opportunity, depending on the size of the consultancy order, the size of the infrastructure which AD Ports would invest in and take our help in the consultancy, would pan out in the coming months and quarters,” Mithal said

Also Read | Railway Rally Continues: RITES wins IIT Bhubaneswar order worth ₹414 crore

Sharing details about the IMEA Corridor, he mentioned its importance as a forthcoming logistic route. He emphasised RITES’ role as a consultant, highlighting collaborations both in India and now in partnership with AD Ports in the Middle East. Together, they aim to design and provide consultancy for the development of this corridor spanning from India through the Middle East to Europe. This partnership will encompass various aspects such as ports, railway corridors, and digital infrastructure, aiming to develop the corridor seamlessly from ports in one region to Europe.

Also Read | RITES shares tumble 7% after net profit drops 14% in December quarter

In its quarterly results released in February, RITES reported a 14% drop in net profit to ₹120.14 crore for the quarter ended December 2023 compared to ₹148 crore in the year-ago period. The company’s revenue from operations stood at ₹682.89 crore in Q3FY24, marginally up from ₹677.34 crore reported in the same period a year ago.

The market capitalisation of RITES is around ₹17,807.57 crore. Its shares have gained close to 110% in the past year.

For the entire interview, watch the accompanying video

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UAE’s BAPS Hindu Temple open to public from tomorrow: Entry fee, timings and other things to know

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Abu Dhabi is all set to open the doors of its first Hindu stone Mandir to devotees on March 1, authorities said. The BAPS Hindu Temple was inaugurated by Prime Minister Narendra Modi on February 14. The temple is a testament to the religious diversity in the United Arab Emirates (UAE).

A temple spokesperson said, “The temple will be open to the public from March 1 from 9 am to 8 pm. The temple will remain closed for visitors every Monday.” As per the reports, devotees from across the country and the world who had registered in advance were allowed to visit the temple between February 15 to 29. The VIP guests also visited the temple in the last few days.

Although there is no entry fee, devotees have to register on the official website or through the Festival of Harmony app before their visit. Built at a cost of approximately Rs 700 crore, the unique temple in the desert spreads over a 27-acre plot in Abu Mureikhah, near Al Rahba off the Dubai-Abu Dhabi Sheikh Zayed Highway.

Reportedly, it has been built by the Bochasanwasi Shri Akshar Purushottam Swaminarayan Sanstha (BAPS) Swaminarayan Sanstha.

The architectural finesse of the mandir is awe-inspiring as it boasts 1.8 million cubic meters of sandstone along with 18 lakh bricks imported from Rajasthan. Its Nagara-style architecture is reminiscent of the recently inaugurated Ram Mandir in Ayodhya.

The towering seven spires in the temple are among the notable features. These spires, symbolising the seven Emirates of the UAE, include murtis of revered deities such as Sri Ram, Shiv, Jagannath, Krishna, Swaminarayan, Tirupati Balaji, and Lord Ayyappa.

Notably, the BAPS Mandir is also the largest Hindu Mandir in the Gulf region.

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India expects WTO Ministerial’s outcome document to cut cost of cross-border remittances

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Remitting money from developed countries to developing and lesser developed countries (LDCs) may get cheaper if the proposal by India and many other developing countries on remittances is accepted at the 13th WTO Ministerial Conference in Abu Dhabi.

With overwhelming support on the issue of cheaper remittances by LDCs and developing countries, government sources told CNBC-TV18 that India is hopeful of seeing some positive development on the issue in the WTO outcome document. The final scheduled day of the WTO Ministerial is on February 29.

In its draft ministerial declaration, India’s submission on cross-border remittances has outlined the socio-economic need for such a move, pointing out that 78% of the total amount in remittances in 2023 went to low and middle-income countries. India’s proposal aims to reduce the cost of remittances from the current 6.18% to less than 3%, in line with the United Nations’ Sustainable Development Goals (SDGs) target.

However, government sources pointed out that the European Union (EU) has given an alternative proposal on financial inclusion, which may dilute any reform in the area of cross-border remittances.

Stating that the EU’s proposal aims to tax remittances to LDCs and developing countries and benefit financial institutions in the developed world, sources added that development-related paragraphs are also being blocked by the EU in the name of non-trade issues like labour laws and women’s participation.

As per a World Bank report, India was the highest recipient of inflows of overseas remittances in 2023 worth $125 billion, with the cost of remittances ranging between $7 billion to $8 billion.

A WTO outcome on the issue can reduce the cost and speed of overseas remittances for all developing and less developed countries. India also feels that it is unlikely that there will be any outcome on any alternative dispute settlement mechanism, as the country blocking proposals to resolve the issue, the United States, is going to polls in November this year.

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India opposes fragmentation of multilateral trading system and inclusion of non-trade topics at WTO MC13

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Leading the Indian delegation on the opening day of the 13th Ministerial Conference of the World Trade Organization (WTO) in Abu Dhabi, Union Commerce Secretary Sunil Barthwal cautioned member countries that mixing non-trade topics with WTO rules can lead to greater trade fragmentation.

Speaking at the second session on Trade and Inclusion, he pointed out that bringing issues like Gender and MSMEs into the realm of WTO discussions was not practical since they’re already being discussed in other relevant international organizations.

Stressing that issues like inclusion are better addressed through contextual and targeted national measures and do not fall in the domain of international trade relations, India submitted that non-trade issues have the potential to encourage trade distortive subsidies and non-trade barriers, and expressed concerns over their negative spillover effect on the trade interests of developing countries.

While India recounted several measures undertaken by its government for greater inclusion of MSMEs and women, especially through the use of Digital Public Infrastructure, it assured the global fraternity that there is a continued focus on bringing about economic transformation in these segments of the economy.

Assuring its unwavering commitment to multilateralism and the importance of adhering to the rules-based global trading system, India welcomed the expansion of the WTO as Comoros and Timor Leste acceded to the global trade body.

In the session on sustainable development and policy space for industrialisation, India highlighted the need to avoid fragmentation of the multilateral trading system and the importance of remaining focused rather than mixing non-trade issues with the WTO agenda.

Expressing serious concerns on the increasing use of trade protectionist unilateral measures, which are sought to be justified in the guise of environmental protection, India asserted that the developing countries want an appropriate policy space to find solutions to their concerns, some of which have been unaddressed for a long time.

India said it was of the firm view that developing countries require flexibility in the existing WTO agreements to overcome the constraints faced by them in their industrialisation.

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PM Modi inaugurates first Hindu stone temple in Abu Dhabi — Know its India connection

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Prime Minister Narendra Modi on Wednesday, February 14, inaugurated the first Hindu stone temple in Abu Dhabi. He performed Aarti and offered prayers at the temple built by BAPS Swaminarayan Sanstha on a 27-acre site in Abu Mureikhah, near Al Rahba off the Dubai-Abu Dhabi Sheikh Zayed Highway.

The work for the structure has been going on since 2019. The land for the temple was donated by the UAE government.

An architectural marvel made with contributions from different parts of India — holy water from Ganga and Yamuna, pink sandstone from Rajasthan, furniture made of wooden trunks that were used to transport stones.

#WATCH | UAE | Consecration ceremony of BAPS Hindu Mandir, Abu Dhabi being done ahead of its inauguration by Prime Minister Narendra Modi, later today.

(Video: BAPS Swaminarayan Sanstha) pic.twitter.com/qHYUc8ZNhF

— ANI (@ANI) February 14, 2024

The temple’s facade features exquisite marble carvings set against a sandstone backdrop, crafted from more than 25,000 pieces of stone by skilled artisans from Rajasthan and Gujarat.

Vishal Brahmabhatt, who supervises procurement and logistics at the site, told PTI that more than two lakh cubic feet of “sacred” stone has been transported in more than 700 containers for the temple’s construction.

The temple complex is bordered by buildings that house prayer halls, a community centre to host cultural events, a library, a children’s park and an amphitheatre through which a stream cuts across.

The UAE has three other Hindu temples that are located in Dubai. The BAPS temple, spread over a large area with stone architecture, will be the largest of all in the Gulf region.

With inputs from PTI

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Watch | First Hindu temple in the United Arab Emirates to be inaugurated today

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Prime Minister Narendra Modi will inaugurate the Bochasanwasi Akshar Purushottam Swaminarayan (BAPS) Hindu temple, the first in the United Arab Emirates, on February 14, Wednesday. The significance of this cultural milestone also lies in its architectural grandeur.

Watch a brief glimpse of the BAPS Hindu Mandir in UAE here:

The BAPS Hindu temple is the largest in West Asia, spread over a 27-acre area donated by the Abu Dhabi government. Let us explore some of the fascinating details of this cultural project that transcends borders.

BAPS Hindu temple is made from pink Rajasthan sandstone and white Italian marble stone. It has been carved in India and then transported to the UAE for assembly.

Following the donation of land by the Crown Prince of Abu Dhabi, Sheikh Mohamed bin Zayed Al Nahyan in 2015, the foundation stone for the temple was laid by PM Modi in February 2018. The UAE government allocated an additional land of 13.5 acres to make it a total of 27 acres. The construction began in December 2019.

The temple has been constructed at a budget of ₹700 crore. It required more than four lakh labourers, including skilled artisans from India to make the masterpiece.

The design of the temple draws inspiration from the Vedic architecture and sculptures. Besides, the temple houses seven spires, each symbolising an Emirate of the UAE. The primary aim of the spirals is to promote unity and harmony amongst the multicultural landscape.

The temple’s complex includes a visitor centre, prayer hall, thematic gardens, and more. Additionally, it has around 100 sensors installed in the foundation to check the seismic activity and temperature changes.

About Bochasanwasi Akshar Purushottam Swaminarayan (BAPS)

Formed in 1905, Bochasanwasi Akshar Purushottam Swaminarayan (BAPS) Sanstha is a Hindu organisation. It aims to preserve the Indian culture and Hindu ideals of faith, unity, and selfless service in various communities across the world.

According to the BAPS’ official site, there are more than 1,100 temples and 3,850 permanent centres of peace and reformation across the world. It invites people of all ages, backgrounds, and beliefs to the centres and temples.

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow