Search Site

AD Ports to invest in Kazakh port

Under the deal, AD Ports Group owns 51% stake.

PIF acquires stake in Saudi Re

The acquisition was made by way of a capital increase.

ADNOC Gas awards contracts

The $2.1bn contracts are aimed at enhancing LNG supply infrastructure.

ADNOC L&S buys stake in Navig8

The company will acquire the remaining stake in mid-2027.

DAE to acquire Nordic Aviation Capital

The terms of the transaction have not been disclosed.

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.