Reforms have also begun to change the make-up of the region’s cities. Changes to UAE regulations on residency, the introduction of 10-year visas, and more liberal co-habitation rules are among the initiatives aimed at encouraging expatriates to settle on a more permanent basis. The greater prevalence of home and hybrid working following COVID-19 supports this trend.
Tourism, too, has been recovering quickly, with international tourist arrivals to the Middle East climbing to 83% of pre-pandemic levels in 2022, according to the World Tourism Organization. The Dubai Expo 2020 and the FIFA World Cup in Qatar are among the recent high-profile events to attract travellers.
Each day sees new developments across the GCC that show the region’s determination to shape its economic future. For investors these are, we believe, developments well worth watching.
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