Morgan Stanley, Nomura Say It’s Time to Bet on Dubai Tourism
Built on trade and tourism in a region reliant on oil, Dubai was hardest hit in the Gulf Arab region as both industries stumbled amid the pandemic.
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Morgan Stanley and Nomura Holdings Inc. say it’s time to bet on a rebound in Dubai’s tourism industry as 200,000 travelers fly in to the desert city for the Christmas and New Year holidays.
The rollout of Covid-19 vaccines, a thaw in relations with Israel and Qatar, and the rescheduled Expo 2020 exhibition will benefit the Gulf Arab emirate, the strategists say.