Dubai will 'fare better because of dollar'

02/10/2009 - Dubai Lifestyle News
Dubai will 'fare better because of dollar'
Written by Bob Brunskill

Those with property investments in Dubai could be pleased to hear the US dollar is faring better than the euro, which is affecting tourism figures.

Natalia Vorobieva, the general director of Natalie Tours, explains: "Countries with the euro are suffering more than those with dollar prices because the euro now is extremely high compared to other currencies. This is one advantage to Dubai."

She added that Dubai is a very popular destination among Russians, although the economic crisis has affected Russian tourism to Dubai this year.

The Commonwealth of Independent States (CIS) reported a 21 per cent rise in Russian tourists in 2008, compared to 2007's figures, with the Atlantis resort on the Palm Jumeirah attributing 13 per cent of its total guest figures as being from Russia.

The CIS was established in 1991 with participants of the Commonwealth declaring their interaction, on the basis of sovereign equality.

Gulf news cites a recent report showed that until July this year, the Middle East had the highest revenue per available room, when compared to other destinations such as the Americas and Europe. Dubai's rates were particularly high, beating both Sydney and Tokyo.
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