Daniel Richards, senior economist at Emirates NBD, breaks down the latest happenings in the UAE's travel and tourism space. He discusses the announcement of Disneyland Abu Dhabi and the exit of Hungarian low-cost carrier Wizz Air from Abu Dhabi's Zayed International Airport.

Abu Dhabi

Abu Dhabi's aviation and hospitality sectors have recorded a 13.1% growth in the first half of the year, with airports handling 15.8 million passengers. This growth, while still below Dubai's passenger numbers, outpaces Dubai's growth rate and is supported by new hospitality launches, government investment, and an expanding national airline fleet. 

Major infrastructure projects, including a recently launched airport and upcoming attractions such as a Disney theme park and the Guggenheim Museum, are expected to further boost tourism. The withdrawal of low-cost carrier Wizz Air has created opportunities for the national airline to expand its routes, contributing to a robust recovery and growth in the sector since the pandemic.

Abu Dhabi aviation, hospitality space sees robust growth

These numbers that we're seeing coming through from Abu Dhabi, the sector seeing 13% growth in the first half. Tell us where this growth is coming from and is it sustainable. Yes so there is a lot going on in Abu Dhabi aviation and hospitality. Like you say 13.1 percent growth. That's a really robust growth rate and that's a trend we've seen the past couple of years really. So in the first half of the year the airports in the Emirate handled 15.8 million passengers. Now that is still a long way short of Dubai. I did hear on my drive in this morning that Dubai has announced its H1 figures and they handled 46 million passengers passengers in the first period. It's about three times as many. But the growth in Dubai was 2.3 percent 13 percent in Abu Dhabi. So it really is expanding at a pretty rapid clip and we would expect that to continue. But there's a lot going on there. A lot of new hospitality launches a lot of government effort being made into developing the sector and expanding national airline. And like you mentioned a population a domestic population that is also growing at a pretty rapid clip. In terms of capacity is the airport there able to manage it. What is the capacity levels and is it in the process of growing. Maybe another runway or another terminal. Yes so there is ample capacity to grow. The new airport was only launched a year or two ago and it was launched very much with you in mind. This would be supportive of a decades long expansion in air travel. This is as is the norm in the UAE and in the various Emirates. They plan for the long term especially in these big infrastructure projects. So there's lots of room still there for the airport and likewise the airlines as well at the head. The local the national carrier is also planning to expand its fleet dramatically. And this will facilitate not only tourist business Abu Dhabi but also grow a crucial transit trade as well. Really taking advantage of the new facility of the world class infrastructure and the great geographical location is a meeting point of three continents. Millions of billions of people within easy to short travel affairs has really got scope to grow much more from here. Very exciting announcement from a Disney about the new Disney Park there in Abu Dhabi. I'm here in Hong Kong and we have the smallest Disneyland in the world. And then we were all worried when the announcement was made that Shanghai was going to be getting a Disneyland as well in terms of further infrastructure to be built to draw more tourism to the Emirates. How significant is this Disneyland project. I think it's really significant. You mentioned Hong Kong Disneyland. I think it handles around seven and a half or enjoys or welcomes around seven and a half eight million visitors a year. So even a fraction of that effect prompted new visitors to Abu Dhabi. And that would be a real boost. I think you see that everywhere. But Disney opens its theme parks. It's not only Disney. You also have other major theme parks which have already opened like Ferrari World and the Sea World. You have the team labs. It's just opened in the last several months. And then for more highbrow. If you'd like visitors as well. You also have major offerings. You already have the new Abu Dhabi. You have the Guggenheim Museum gallery which is set to open soon. And also you have the new National Museum as well. So it is a concerted effort to diversify the offering which will help encourage visitors from all kind of interests demographics. Yeah it sounds like a lot of different tastes that can be met with all these projects. Now I want to ask about whiz air. This is a Hungarian airline pulling out of Abu Dhabi after trying to make a foothold in the Gulf region. But I guess unsuccessful after six years. What kind of vacancy or vacuum does this leave. Yes. So it was there was a low cost carrier that has been operating here for several years and had been expanding its roots quite swiftly. But like you say it has pulled out of Abu Dhabi. It cited geopolitical tensions and also issues around the heats and its aircraft. It wasn't able to handle that. So that has left a gap on several of those routes. And what we've actually seen is that at the head has already stepped in to fill some of those. So it's launched some new flights to Central Asia for instance which it hadn't been operating previously. And that was had been. So it is it is an opportunity for a national carrier again and will help the airline continue to grow. So I think they carried their growth in passenger numbers and H1 was up around 10 percent. So they also see a pretty robust expansion rate. And that's really in contrast to what we've seen prior to a pandemic. We're not ahead. Can't be performing so strongly. And the aviation sector in Abu Dhabi generally had been under a bit of pressure. But since being taken over by the Q post pandemic has really enjoyed a surge or a resurgence in its activity.

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Breakdown