Dubai is a perfect base for both culture-seeking expatriates and business-driven ex-pats, thanks to its awe-inspiring architecture, endless lengths of stunning golden beaches, and unlimited skyscrapers. The region, which has around 3.33 million people, is a melting pot of cultures where people of various nationalities live and visit.
One of the most exhilarating experiences you'll ever have could be starting a new life in Dubai. Like living in any new country, living in Dubai may be daunting, especially if you don't have any practical knowledge of how things are done here.
Dubai tourism is booming, thanks to the country's fast-changing economy, reduced reliance on oil reserves, and further expansion through the 2020 World Expo. Winning the bid put Dubai on the global tourism map, increasing visitor numbers, which fueled the short-term rental market and significantly expanded Dubai's hotel capacity.
The most significant impact that Dubai Tourism has had on the Dubai real estate market thus far has been the announcement, launch, and completion of various residential, commercial, entertainment, and infrastructure projects throughout the emirate in advance of the World Expo. The major event is estimated to attract 25 million tourists, which will significantly impact the Dubai real estate market. For instance, three theme parks are now under construction: Motiongate, a Hollywood-themed attraction, Legoland Dubai, and Bollywood Parks. The parks will draw over 6.7 million ticketed visitors once they open.
Furthermore, given the growing importance of the short-term rental market, the Dubai Tourism industry has made significant progress in establishing regulations for holiday homes, which will benefit the Dubai real estate market by providing a revenue stream for owners who wish to rent out their properties for a limited period.