Search Site

Trends banner

SAIB reports $139 million Q1 net profit

its assets increased by 20.08 percent to $43.65bn.

Nissan forecasts $5.3bn annual net loss

Last year, it announced 9,000 job cuts worldwide.

Saudia to acquire 20 wide-body aircraft

10 of these being acquired for its flydaeal low-cost airline

ADIB’s Q1 net profit $517 million

Q1 2025 net profit before tax increased 18% YoY.

Emirates Islamic Q1 profit $394m

The bank's profit crossed AED 1bn mark for the first time.

Sports sector adds $1bn to Dubai economy each year

  • Around 1.5 million people regularly engage in sports and physical activities in the emirate, acccording to the Dubai Sports Council
  • This has led to an increase in the number of national and international sporting events being hosted in Dubai

The sports sector’s annual contribution to the economy of Dubai now stands at AED4 billion (around $1.01 billion), said Dubai Sports Council Chairman Sheikh Mansoor bin Mohammed bin Rashid Al Maktoum on Tuesday.

He said the growth came as a result of the Dubai community’s growing interest to participate in sports activities over the years.

He also attributed it to an increase in the number of national and international sporting events being hosted in Dubai.

The full 2020 edition of the cash-rich Indian Premier League was held in the UAE last year, and the truncated edition of the 2021 edition of the cricket tournament is expected to play its concluding games later this year once again in the UAE.

In both cases, Dubai was one of the several venues put into service. It will also see matches from the upcoming ICC Men’s T20 World Cup, which will be co-hosted by the UAE and Oman.

All these tournaments are possible to be held in the UAE because of its overall high vaccination rate and strict measures against the spread of Covid-19.

Sheikh Mansoor also pointed to Dubai’s sports infrastructure, including tracks for cycling and running, as well as a rise in number of sports academies and fitness centers, for the growth of the emirate’s sports sector.

The Dubai Sports Council revealed that around 1.5 million people regularly engage in sports and physical activities in Dubai.

Meanwhile, the number of people employed by Dubai’s sports sector has been growing over the years due to an increase in the number of entities operating in the sector as well as Dubai’s hosting of major international championships and events.