Two significant merchants announced on social media that Dubai has postponed a 30% tax on alcohol and removed a license fee requirement that was previously required to purchase alcohol in the business and tourist center.
The action is anticipated to increase Dubai’s allure to tourists and expatriate residents drawn to its more liberal lifestyle when compared to other Gulf cities.
Dubai’s economy quickly recovered from the COVID-19 epidemic, with the first nine months of 2022 seeing a 4.6% year-over-year increase in GDP. A major economic pillar, tourism saw a more than 180% increase in visitors during the first half of 2022 compared to the same period in 2021.
Reference
https://www.aljazeera.com/news/2023/1/2/dubai-drops-30-percent-tax-on-alcohol-to-woo-tourists-expats
Related News
- US CPI: Inflation Reaches its Lowest Level in more than a Year
- UAE Names its Oil Minister to Lead the COP28 talks on Climate Change
- Recession is a Looming Threat to the Global Economy, According to the World Bank
- Dubai Lowers its Alcohol Tax by 30% to Attract Visitors and Expatriates
- IMF Chairman Cautions that this Year, a Third of the World is in Recession
- Shares of Apple and Tesla Tech are Down Due to Supply Difficulties