Dubai Airports and DXB Entertainments, owner of Dubai Parks and Resorts have announced a partnership to showcasing Dubai’s position as the leading tourist and entertainment destination in the region.
Meanwhile, reports suggest that DXB Entertainments is in danger of being excluded from the influential MSCI EM index in May.
Dubai Airports operates Dubai International (DXB), which is the world’s busiest international airport. It has over 88 million passengers travelling through it each year. The airport reported a 10% average passenger growth over the past 10 years. It expects around 90 million passengers in 2018.
DXB Entertainments PJSC owns Dubai Parks and Resorts, which is the Middle East’s largest integrated theme park. The agreement will aim to make the airport a destination in its own right while promoting the immersive experience on offer at Dubai Parks and Resorts to the passengers travelling through DXB.
Cautious optimism and rollercoaster stock
The partnership will see the theme park destination resort promoted on all DXB concourses. This gives the brand exposure to more than 65 airlines flying to and from over 240 destinations in 170 countries. Dubai Parks and Resorts will interact with airport passengers via branded family zones and dedicated retail locations. These shops will sell Dubai Parks and Resorts merchandise. They will also promote the theme park experience by direct marketing and immersive advertising.
2018 is the first full year of operations for Dubai Parks and Resorts. DXB plans to maintain the growth of international visitors in line with the Dubai Tourism Vision 2020.
2017 was a challenging year for the new theme park resort. Nonetheless, there is a view of cautious optimism about 2018 and the future. After restructuring its debt and reducing visitor number targets in response to poorer than expected attendance (2.3 million) in 2017, DXB recently announced that the first quarter of 2018 saw over 850,000 visits to the destination. This was a 45% increase on the same period last year.
However, Bloomberg is reporting (“Scary Dubai stock drop“) that DXB Entertainments PJSC, whose stock has fallen over 30 percent this year, could be in for more trouble next month. This would be the case if MSCI Inc. cuts the stock from its emerging-market index. 11 UAE companies are included in this index. It is used as a reference for those trading stocks in developing countries. DXB Entertainments’ market value is currently around 33 percent below the threshold required by the index compiler.
On Dubai Airports and Dubai parks
Eugene Barry is Executive Vice President, Commercial at Dubai Airports.
He said, “This partnership demonstrates Dubai Airports’ commitment to showcase the world-class hospitality and entertainment options available to visitors of this vibrant city, while also creating unique airport experiences. In addition, Dubai Parks and Resorts are the perfect partner to work with us on creating authentic and memorable activations to engage with a global audience, with the goal of inspiring connecting travellers to visit Dubai, and Dubai Parks and Resorts, on their next journey.”
Mohamed Almulla is CEO and MD, DXB Entertainments PJSC.
He said, “We are pleased to announce our upcoming venture with Dubai Airports. It is a key milestone towards growing the inbound tourist segment. As the largest integrated theme park destination in the region, we are dedicated to strengthening Dubai’s position as a global tourism and entertainment hub. We also believe our presence at the world’s busiest international airport will drive maximum engagement and recognition amongst the estimated 88 million passengers travelling through the airport.
“Our dedicated media solutions and immersive concepts will be positioned throughout Dubai International passenger concourses. These will add an element of surprise and entertainment to passengers’ journies. It will also them a glimpse of what awaits them at Dubai Parks and Resorts.”