The GCC unified tourist visa is set to increase demand in the short-term rental sector of the Dubai real estate market, experts say.
“Once it comes into play, I do expect more of a demand for short-term rentals in the region. Most areas across the Gulf will see more travellers than usual needing accommodation,” says Emma Campbell, Director – Short Term Leasing, haus & haus Real Estate.
GCC unified tourist visa boosts economy
The GCC has recently approved a unified tourist visa that is set to be implemented between 2024-2025, the new scheme will give visa holders access to all GCC member states with one visa, facilitating seamless travel.
The aim of this unified tourist visa programme is to amplify the contribution of the tourism sector to the GDP and increase both economic and tourism numbers.
Aside from tourism gains, the GCC unified tourist visa might make short-term lease “more appealing than annual leasing, for Dubai expats who travel for work between countries,” Campbell said.
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She also believes that areas that were previously less popular or considered difficult to access to become more enticing as they aim to attract a larger number of travellers in need of accommodation.
The ease of travel within the GCC is expected to have a positive impact on the choice of accommodations for both tourists and business travelers. Campbell anticipates a rise in the number of corporate travelers planning hassle-free business trips and an increase in family visits among Gulf residents when the visa process becomes more convenient.
“Lots of corporate travellers will be able to plan business trips hassle-free, and family members across the Gulf will likely visit each other more often when the process is easier,” says Campbell.
Among all the GCC countries, Saudi Arabia is predicted to see a particularly higher boost for tourism. “It has already become an attractive place for tourists, who have historically been put off by the visa restrictions, she explained. However, this is now expected to change.
Described as “a home away from home” travellers using the unified tourist visa to take advantage of longer stays in a short-term rental apartment with a fully fitted kitchen and washing machine “will become more enticing than a standard hotel room.”
“The market will become more competitive for sure; the holiday home segment has already grown here in Dubai so we will need to keep on our toes and offer the best and widest selection of accommodation at cost-effective rates,” she concluded.
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