Travel revenue exceeds 36 billion dirhams

The bureau de change reported that travel revenue more than doubled to AED33.66bn in the first seven months of 2022, compared to AED13.13bn during the same period in 2021.

In its latest publication on the monthly exchange rate indicators for the month of July, the Casa de Cambio indicated that these revenues registered an increase of 60.8 percent compared to the same period in 2020; While it witnessed a decrease of 11.6 percent compared to the end of July of the year 2019.

The same source indicated that the expenses amounted to 8,510 million dirhams, whose level is lower than those registered in 2018 (10,540 million dirhams) and in 2019 (11,790 million dirhams), years prior to the health crisis.

Thus, the travel balance surplus registered an increase of 28.15 billion dirhams at the end of July, compared to only 8.14 billion dirhams during the same period last year.

The trade balance of services, at the end of last July, registered a surplus of 65.2 percent; This equates to an increase of AED 20.15 billion (an increase of AED 51.06 billion, compared to AED 30.91 billion).

This evolution is due, according to the same source, to an increase in exports (106,590 million dirhams, compared to 72,400 million dirhams, an increase of 47.2 percent, or 34,190 million dirhams); This exceeds the import growth rate of 33.8 percent, or AED14.04 billion.