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GCC bloc accepts unified visa system to explore untapped tourism market

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The proposed unified tourism visa system for the Gulf Cooperation Council (GCC) states — Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates (UAE) — was unanimously accepted, ushering in a new era in the critically important economic sector.

The GCC Secretary General Jassim Al Budaiwi announced the system, which is expected to come into effect between 2024 to 2025 across the six-nation bloc, on November 9 (Thursday) at the 40th meeting of GCC interior ministers in Oman.

He said that the decision is expected to streamline travel logistics and underpin the “continuous communication and coordination” between the GCC states, The National reported.

“The unified Gulf tourist visa is a project that will contribute to facilitating and streamlining the movement of residents and tourists between the six GCC countries and will, undoubtedly, have a positive [impact] on the economic and tourist sectors,” Al Budaiwi said.

In order to “contribute to the fight against [its] scourge,” Al Budaiwi stated, the council has also approved the electronic linking of traffic offences between GCC states and is currently developing a comprehensive strategy to combat illegal narcotics.

Recently, UAE Minister of Economy Abdulla bin Touq highlighted the unified visa as a key component of the GCC 2030 tourism strategy, aiming to boost the sector’s economic contribution through increased regional travel and higher hotel occupancy rates.

The UAE aims to increase its visitor count to 128.7 million by 2030, a 137% increase from the 39.8 million recorded in 2021.

The region’s total number of hotels reached 10,649 by the end of last year, a 1.2% growth from 2016. The UAE, with 1,114 hotels, ranks second in the region after Saudi Arabia, according to bin Touq.

According to HSBC, the Middle East’s tourism sector has experienced the strongest post-coronavirus rebound globally, with a “total recovery” in tourist arrivals in the first quarter of 2023, despite global economic challenges, particularly in the Arab economies of Saudi Arabia and the UAE.

Industry operators predict a significant tourism programme in the GCC bloc, highlighting an untapped market due to visa restrictions, which have hindered travellers from reaching certain nations.

A single GCC tourism visa will be a “fantastic development” for tourism in the region, making it more attractive for visitors and businesses, Dubai Airports chief executive Paul Griffiths told The National last week.

“The more cities there are on the tourism map that encourages people to visit the Middle East, the better the world’s perception of the region,” Griffiths said.

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Islamic Sukuk Bonds: Government Is Expected To Begin Bond Auction Next Week

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There is now more positive economic news for the people of Pakistan. The government is anticipated to begin the Sukuk Islamic Bond auction next week, after the central bank’s announcement of a large drop in the policy rate.

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SIFC Encourages Green Tourism: Reforming Visas to Increase Investment

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Enhancing investment in the tourism sector, Green Tourism Pakistan’s initiative has received backing from the Special Investment Facilitation Council.

Visa-On-Arrival for 126 countries, Visa-Free Entry for Gulf Cooperation Council nations, and 24-hour expedited visa processing are some of the main features of the Green Tourism Visa Policy.

It is anticipated that these endeavors will draw in about 80 million dollars in foreign direct investment and 8.3 billion rupees in domestic investment.

Green Tourism Private Limited has introduced hunting resorts in Naltar, Hunza, and Skardu, along with four- and five-star city hotels, to improve the tourism experience.

In the first phase of the project, 17 of the 78 areas have seen the start of development activity.

Approved is a central authority for Green Tourism that will supervise the growth of Air Operations.

To promote Religious Tourism, extra precautions have been taken to guarantee the security of visitors from all religions, including Sikhs and Buddhists.

Furthermore, in order to improve the quality of the tourist experience, the green guide quality program has been introduced to supply top-notch tour guides.

There is now a deluxe bus excursion from Islamabad to Peshawar that promotes local culture.

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July 2024 export data from Pakistan shows a significant rise.

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The Strategic Investment Facilitation Council (SIFC) has been instrumental in improving Pakistani products’ access to international markets, as seen by the significant surge in exports from the country at the start of the 2024–25 fiscal year.

With a 7.26% rise over the same month the previous year, July 2024 exports to the US were $476.017 million. After increasing by 7.74% annually, the United Arab Emirates emerged as the second-largest export destination.

The third and fourth places were occupied by exports to the UK ($183.303 million) and China ($60.100 million). A substantial increase in exports to Afghanistan was recorded in July of this year, rising from $46.262 million to $88.065 million, largely due to successful anti-smuggling efforts.

With a combined export volume of $553.951 million, more important export destinations included Germany, the Netherlands, Italy, Spain, Saudi Arabia, and Turkey.

A bright future for the national economy is suggested by the growing confidence major international markets have in Pakistani exports. Through the efforts of SIFC and the government, this greater access to global markets has been made possible.

Pakistan’s economy is predicted to remain stable as a result of the export growth that SIFC has enabled.

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