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The increase in property prices pushed out the British expatriates, and forced them to look for property outside Dubai in cities like Ras Al Khaimah. [193] Despite the rising property prices, real estate transactions in Dubai are at an all time high, with 180,987 transactions worth AED 522.5bn taking place in 2024.
Tourism is a major economic source of income in Dubai and part of the Dubai government's strategy to maintain the flow of foreign cash into the emirates. [19] The tourism sector contributed in 2017 about $41 billion to the GDP, making up 4.6% of the GDP, and provided some 570,000 jobs, accounting for 4.8% of total employment. [20]
Allamanda Voyages travel agency in Paris Travel agency in Rio de Janeiro, Brazil Travel agency in Taiwan. A travel agency is a private retailer or public service that provides travel and tourism-related services to the general public on behalf of accommodation or travel suppliers to offer different kinds of travelling packages for each destination.
The emergence of Dubai's lively real estate market was briefly checked by the global financial crisis of 2007–8, when Dubai was bailed out by Abu Dhabi. [31] The recovery from the overheated market led to tighter regulation and oversight and a more realistic market for real estate throughout the UAE with many 'on hold' projects restarting.
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