"Bring a Friend and Get 1.2 Million Won"...Dubai Bets Big as Tourist Numbers Plunge

[Financial News] Dubai, the largest city in the United Arab Emirates (UAE), is rolling out a range of incentives to attract foreign visitors and revive its tourism industry after tourist arrivals plunged in the wake of the Iran war.
Yonhap News Agency reported on the 29th, citing Cable News Network (CNN), that Dubai authorities have been running the "A Dubai Invite" program since early this month.
Under the program, UAE residents or citizens aged 18 or older who hold a valid UAE ID can receive a reward package worth 3,000 dirhams, or about 1.18 million won, if they refer a friend or relative to visit Dubai.
Referred visitors must be non-residents of the UAE with a valid tourist visa, and they must enter the country by air, sea, or land to qualify for the benefit.
The program will run until October 31, and each person can refer up to three family members or friends.
Dubai, the Middle East's largest financial hub and a popular resort destination, posted a record last year by attracting 19.59 million tourists. But the situation changed sharply after the outbreak of the Iran war. Missile and drone attacks from Iran hit Dubai International Airport and the Fairmont Hotel on Palm Jumeirah, one of Dubai's landmarks. As images of black smoke rising from Iranian drone strikes were broadcast, concerns about safety spread. As a result, hotel occupancy rates plunged from 80% to 10%.
As tourist numbers fell sharply, Dubai authorities moved to rebuild tourism by suspending the hotel stay tax imposed on luxury accommodations and abolishing the 7% local tax applied to hotel and restaurant bills. However, analysts say it remains unclear how effective these measures will be.
Naeem Madad, CEO of Gates Hospitality, which operates resorts and restaurants in Dubai and Oman, said the Iran war had "caused hesitation rather than undermined confidence in Dubai itself."
Meanwhile, the United States has advised its citizens to carefully consider visiting Dubai, and several other countries are also issuing travel warnings for the city.
[email protected] Kim Su-yeon Reporter