Dubai Airport Reports Increasing Traffic, but are More People Coming or Going?


Share

Traffic through Dubai international a was up 6/7% on last year according to recent reports. This is compared to a fall of 7% internationally. However, the reports do not tell us whether people flying out of Dubai through the airport were counted in the result.

Since the downturn really struck Dubai, thousands of Britons and other foreign residents have been forced to flee the emirate for fear of tough punishments for defaulted loans; under the Islamic law system people are punished severely, including possible jail-time for failing to repay credit.

It is hard to say exactly what Dubai tourism is like at the moment; the figures for 2009, when they are released will be a shock to me whatever they show, because I really am absolutely at a loss to say. I am negative on the Dubai property market and the economy until at least the 3rd quarter of 2011, and that makes it easy for me to be negative on the entire country (term used loosely).

That said: Dubai has some of the most incredible resort hotels in the world; Palm Jumeirah the man-made island masterpiece is absolutely breathtaking, and captured the hearts and imaginations of tourists throughout 2008.

Then again: many of the proposed new resorts are now mothballed and no one wants to holiday with views of a construction site's idle cranes and machinery, or worse, an empty or half-finished tower.

So, though this is the second announcement that I know of reporting increasing traffic through Dubai's airport, I have seen nothing to suggest that this is because of increasing tourism figures. This would seem to indicate that tourism hasn't been rising, as even if not brought to light in their own news, these articles on rising air traffic present the perfect opportunity to mention it.

However, if it turns out that tourism has risen in 2009, or even not fallen as much, it will be a massive boost for the Dubai property market. Developers and potential buyers will see that there is a market to target, which will undoubtedly bring them in to restart some of the postponed developments, which will really restart the market.

If I am right and tourism has fallen in 2009, then I revert to my original forecast: Dubai property prices will be falling until at least the latter part of 2011, at which point they will be lucky to see any real growth before 2014/15 -- read all about it in this article.

Like this post? Subscribe to our feed by RSS or Email, join our newsletter(s) or leave a comment using the form below.

By Liam Bailey - 2009-12-27 14:05:04

Buy articles button Page copy protected against web site content infringement by Copyscape

Bookmark and Share Bookmark and Share Add to Mixx!

Leave a Comment on this Post

Filed under: Overseas Property, Opinion Articles

Tagged: Dubai | Dubai property | Dubai tourism |

About the Author: Liam Bailey

Liam is the director of SEO copywriting services company Write About Property

View all Overseas Property ArticlesSubscribe to overseas property feedOverseas property articles by Email

View all ArticlesSubscribe to Write About Property articles feedAll Write About Property Articles by Email

 
Have Your Say - Post a Comment

captch image

Your Ad Here

Subscribe by Email

Enter your email address:

Delivered by FeedBurner

By Rss
feed icon

Sponsors



Socialise with Us

Facebook fan page

Links

Latest Posts

UK House Prices: Second Correction Looking More Likely

SEO Tips: When is a Link not a Link?

Villas in Icmeler Named as Among Most Popular Turkish Properties

UK House Prices Up or Down Depends on the Index

UK House Builders Risk Reputation to Sue Defaulters, What???

Why People are Buying Spanish Property Again

UK House Prices: What Will Spring Bring?

Turkish Tourism in 7.7% Year-on-Year Increase in January

EU Membership Looking Less Attractive for Turkey

UK House Prices Up Again in December Says Govt, But for How Long

Related Posts

Why People are Buying Spanish Property Again

Turkish Tourism in 7.7% Year-on-Year Increase in January

EU Membership Looking Less Attractive for Turkey

Turkey Property Benefits from Increased Exposure Offered by Downturn

Turkish EU Accession Wheel Keeps on Turning

Half of Turkey Would Vote Yes to Joining EU

The Problems Faced by Dubai Property Market in 2010

Optimism Building That Turkey Can become EU Member

Is it better to Have Boomed &Bust than Never to Have Boomed at all

2010 Will be a Good Year for Overseas Property Investment

Sponsored Links