24th June 2025 to 30th June 2025| Weekly Business Roundup

Dubai’s Executive Council approved a major package of initiatives to transform the emirate as a top 10 destination of choice for students by 2033. The new initiatives will accelerate international university presence, reform student visas, enhance career guidance, and bolster Dubai’s position as a destination for academic excellence and innovation. 

UAE backs USD205m grid project with GCC; sets sight on USD20bn energy market

Aligned to the UAE Energy Strategy 2050, Abu Dhabi Fund for Development (ADFD) signed a financing agreement worth AED752m (USD205m) with the Gulf Cooperation Council Interconnection Authority (GCCIA) to expand the GCC power grid. This agreement aims to bolster regional energy security, enhance grid reliability, and support clean energy integration. It is forecast these efforts will drive estimated USD20bn in economic value from regional power trade over the next 15 years.

 

UAE credit rating affirmed at AA with stable outlook

Fitch Ratings affirmed the United Arab Emirates’ Long-Term Foreign-Currency Issuer Default Rating at ’AA-’ with a Stable Outlook. UAE’s moderate consolidated government debt, strong net external asset position, and high GDP per capita are key factors contributing to UAE’s credit rating. 

 

UAE retail set for 5.4% annual growth through 2028

The UAE retail sector is on track to grow at a compounded annual growth rate (CAGR) of 5.4% through 2028. UAE is undergoing transformation with a renewed surge in experiential retail in line with evolving consumer preferences and a growing expat population. Further aligned with the country’s Net Zero 2050 ambitions, sustainability has become central to retail design in the UAE. 

 

UAE and China strengthen USD 100 bn ties

UAE and China are exploring developing USD100bn trade ties to strengthen relations between the two countries. UAE officials visited China to achieve robust bilateral relations as well as strategic economic cooperation across energy, renewables, and industry. 

 

UAE tourism hits record USD70bn in 2024, ranks among world’s top 7 for visitor spending

As per the World Travel and Tourism Council (WTTC), the UAE’s travel & tourism sector recorded a significant year in 2024, contributing AED257.3bn (USD70.1bn) to the national economy — constituting 13% of the country’s GDP. 

 

Dubai attracts 8.68m visitors in first five months of 2025; hotel room numbers reach 153,356

Dubai attracted 8.68m international visitors between January and May 2025 — a 7% increase compared to the same period in 2024, which reported 8.12 million arrivals. The emirate is estimated to have hosted 1.53 million international visitors in May alone. Western Europe topped the list of source markets, contributing 22% of total visitors — approximately 1.917m tourists. 

3.4mn passengers set to take off from Dubai International Airport

It is estimated Dubai International Airport is likely to witness a sharp rise in passenger traffic with more than 3.4mn travellers expected to pass through its terminals between June 27 and July 9, 2025. It is estimated the airport will witness daily average forecast to exceed 265,000 passengers.

 

Ras Al Khaimah set to add more than 7,400 hotel rooms by 2030 

As per RAK Investment Pulse report, Ras Al Khaimah’s hospitality sector is on track to drive significant expansion, with 7,427 new hotel rooms set for delivery by 2030. It is projected the emirate’s hotel capacity is likely to reach 16000 keys by the end of 2030. The sector will require support infrastructure like laundry services, food & beverage, logistics, staff & more to drive operational efficiency aligned with guest facing growth.