Emirates NBD Research
 

Find anything about our articles and more.
Enter a query in the search input above, and results will be displayed as you type.

Try typing "Dubai Economics", "Dubai GDP", "GCC Macro"

Emirates NBD
Search
Subscribe
   
  • Home
  • Economics

    Emirates NBD Research provides detailed coverage of 16 GCC and MENA economies, analysing them from a top down macro and strategic perspective as well as by a bottom up sector by sector approach.

    • SUBTOPICS
    • GCC Macro
    • MENA Macro
    • Global Macro
    • Sector Economics
    • Monthly Insights

     

    Latest Article Lebanon continues to face multiple challenges
    Latest Article UAE: A mixed bag of data in January
    Latest Article Moroccan growth will outperform MENA oil importer peers in 2021

     

  • Markets

    Emirates NBD Research publishes reports on global forex, rates and commodities, as well as regional fixed income and equity markets.

    • SUBTOPICS
    • Foreign Exchange
    • Fixed Income
    • Commodities
    • Equities
    • Monthly Insights

     

    Latest Article IEA lowers demand forecasts
    Latest Article Monthly Insights: January 2021
    Latest Article Gold prices stumble to start 2021

     

  • Daily
  • PMIs

    Emirates NBD sponsors Purchasing Managers’ Indices for the UAE, Saudi Arabia, Egypt and Dubai. The indices are compiled by IHS Markit, the leading global provider of financial market data.

    • SUBTOPICS
    • UAE PMI
    • Saudi Arabia PMI
    • Egypt PMI
    • Dubai PMI
    • Methodology

     

    Latest Article Dubai PMI moves back into expansion territory in December
    Latest Article Regional PMIs- Saudi PMI rises to year high in December
    Latest Article Regional PMI round-up: A mixed bag in November

     

  • About Us
  • EmiratesNBD.com
  • Subscribe
GCC MACRO > ECONOMICS

Chinese visitor numbers to Dubai fell sharply in February

Khatija Haque - Head of Research & Chief Economist
Published Date: 13 April 2020

Facebook
Linkedin
Twitter
Email
Print

 

After a strong January, the number of visitors to Dubai in February 2020 declined -3.3% y/y as travel restrictions to contain the spread of COVID-19 started to be imposed.  This was most evident in the -72% y/y drop in the number of Chinese visitors to Dubai in February.  China was the first country to limit the movement of people and by February, several countries had already started restricting flights to and from the country with the UAE cancelling all China flights except Beijing from 3 February.   

Kuwait, Iran and Nigeria also saw a double-digit decline in visitor numbers to Dubai in February.  However, this was offset by nearly 50% growth in the number of Russians visiting Dubai, as well as solid growth in visitors from Australia and the Philippines.  

The total number of international visitors to Dubai grew 4.1% y/y in the year-to-February.  

Looking at the cumulative data for the first two months, India has returned to the top spot in terms of the biggest source of visitors to Dubai, although the number of visitors was slightly lower than in Jan-Feb 2019.  Saudi Arabia was back in second place, with visitor numbers up by more than one-third on the first two months of last year.  UK and Eurozone visitor numbers were largely unchanged y/y.  The strongest growth was from Russia, with visitors up 47% y/y in Jan-Feb 2020.  Chinese visitor numbers shrank by a third compared to the same period last year. 

Annual change in visitors by country, year-to-February

Source: Dubai Tourism, Emirates NBD Research

The number of hotel rooms in Dubai increased 0.2% m/m and 8.8% y/y in February 2020.  Dubai Tourism data show occupancy rates averaged 82% ytd, lower than the 84% recorded in Jan-Feb 2019.  However, it appears that hotels and hotel apartments offered incentives in order to support demand, with the revenue per available room (RevPAR) declining -10.6% y/y in Jan-Feb 2020.  

We expect visitor numbers to contract sharply in March as almost all passenger traffic into and out of the UAE was halted and is unlikely to resume for several more weeks.  Indeed the Dubai PMI survey data showed a steep contraction in new work and output in the travel and tourism sector in March. 

 

Written By:
Khatija Haque, Head of Research & Chief Economist

RELATED ARTICLES

UAE: A mixed bag of data in January
21.01.2021

Regional growth to be driven by improving global backdrop
13.01.2021

Dubai 2021 budget and GDP estimates
27.12.2020

Regional PMI round-up: A mixed bag in November
08.12.2020

Dubai PMI slips to 49.9 in October
09.11.2020

See all

LATEST ARTICLES

IEA lowers demand forecasts
19.01.2021

Dollar weakness remains entrenched
07.01.2021

OPEC diplomacy key to stable oil markets
05.01.2021

See all
 

 Subscribe to our newsletter


Never miss out what is going on in UAE Economics

KEEP READING MORE

Regional growth to be driven by improving global backdrop

We expect GCC growth to average 2.3 percent in 2021 following an estimated 5 percent contraction in 2020.

ECONOMICS, GCC MACRO - 13.01.2021

Monthly Insights: January 2021

A round-up of our key research insights and forecasts this month.

ECONOMICS, MARKETS - 17.01.2021

Energy markets focus on US presidential election

Oil industry braces for a Biden administration.

MARKETS, COMMODITIES - 25.10.2020

 

Markets pricing in Democratic victory

Anticipation of a Democratic win in the US election is sending yields higher.

MARKETS, FX - 27.10.2020

MENA Quarterly Q4 2020

Our quarterly report on MENA economies

ECONOMICS, MENA MACRO - 13.10.2020

OPEC and allies reach agreement for 2021

The oil market should be able to absorb modest production increases

MARKETS, COMMODITIES - 06.12.2020

Green bond market has room to expand in MENA

Renewables projects across the region could attract new pool of investors.

MARKETS, FIXED INCOME - 21.10.2020

  • Economics
  • Markets
  • PMIs
  • About Us
  • Subscribe to our publications
  • Economics
  • GCC Macro
  • MENA Macro
  • Global Macro
  • Sector Economics
  • Markets
  • Foreign Exchange
  • Fixed Income
  • Commodities
  • Equities
  • PMIs
  • UAE PMI
  • Saudi Arabia PMI
  • Egypt PMI
  • Dubai Economy Tracker
  • Methodology
  • About Us
  • Subscribe to our publications

 


Terms and Conditions
Copyright © 2021 Emirates NBD Bank PJSC. All Rights Reserved