Dubai: 50% more Golden Visas issued in first half of 2023
According to the General Directorate of Residency and Foreigners Affairs (GDRFA) - Dubai, the number of Golden Visas issued in Dubai increased by 52% in the first half of this year compared to the same period last year.
The Golden Visa, which was introduced in 2019, is a long-term residency permit that permits expats to live, work, or study in the country for up to ten years. Investors, entrepreneurs, scholars and specialists, excellent pupils, and frontline heroes are among those eligible for long-term residency in the UAE.
Dubai had given over 150,000 golden visas to qualifying citizens, investors, professionals, and others as of November 2022.
At a press conference on Tuesday, the GDRFA published details about the upcoming International Conference on Policymaking: The Future of Ports.
According to the GDRFA, the Emirate had a 63% increase in the number of resident permits and a 21% increase in tourist visas from January to June as expats seeking greener pastures and visitors wishing to explore the UAE continued to come to the emirate.
Dubai's population has risen dramatically since the outbreak, luring foreign investors and specialists in preparation for the pandemic's successful management and staging of Expo 2020.
Since January 2023, the emirate's population has increased by more than 72,700, reaching 3.623 million, up from 3.550 million at the start of the year.
Tourism and retail in Dubai
The Dubai administration uses tourism as a key component of its plan to keep bringing in foreign currency. The primary draw for tourists visiting Dubai is its shopping, but it also has other historical and contemporary attractions. Based on the number of foreign tourists, Dubai is the fourth most visited city in the world as of 2018 and is expanding at the quickest rate—it is rising at a rate of 10.7%. In 2016, 14.9 million people spent the night in the city; by 2020, 20 million visitors are anticipated. The Burj Khalifa, which is now the world's tallest building, is a popular tourist destination in Dubai. However, Jeddah Tower in Saudi Arabia's Jeddah is working towards being higher.