Dubai Launches Incentives to Boost Tourism
We have reported extensively this spring on the impact of the Iran/US war on the region and its economies, focusing on the popular expat destination of Dubai.
Now, Dubai has introduced a financial incentive programme aimed at stimulating its tourism sector following a sharp decline in visitor numbers after the start of the regional conflict.
Under the new ‘A Dubai Invite’ scheme, UAE residents who encourage friends or relatives from overseas to visit the emirate are eligible to receive benefits worth more than AED 3,000 (£610/US$816). The rewards, funded through Dubai’s Department of Economy and Tourism, include hotel stays, dining offers and attraction tickets rather than cash payments. Residents may qualify for up to three reward packages for eligible visitors arriving before 31 October.
From an economic perspective, the initiative is a targeted demand-stimulation measure. Rather than spending heavily on international marketing campaigns, the government is using residents as ambassadors to encourage visits through their existing family and social networks. The expectation is that the cost of the incentives will be offset by increased spending on accommodation, restaurants, transport, retail and entertainment.
The programme follows a difficult period for Dubai’s tourism industry. Although the emirate welcomed almost 20 million visitors in 2025, as we have reported, regional instability has significantly affected travel demand. Airlines have reduced services through the Gulf, visitor confidence has declined and hotels have reported falling occupancy rates, with some businesses claiming revenue losses of more than 50%. Several luxury hotels have brought forward refurbishment programmes, while others have introduced substantial discounts and promotional offers to attract guests.
Early indications suggest the initiative has generated considerable interest, with local media reporting more than 10,000 applications from residents within the first 48 hours of its launch. Whether the scheme produces a sustained recovery in tourism will become clearer over the coming months, but it illustrates the increasing willingness of governments to use targeted financial incentives to support sectors affected by geopolitical disruption.
Moneta Targets Growing UK-US Expat Market
US wealth management firm Moneta Group has expanded into the UK through a strategic partnership with London-based financial planning firm Thomson Tyndall, reflecting growing demand for specialist advice from Americans living and working in Britain.
The new venture, Moneta Global Wealth, is designed to help US expatriates navigate the complexities of cross-border financial planning, including US tax reporting, investment management, retirement planning and estate planning. Rather than establishing its own regulated UK business, Moneta has partnered with Thomson Tyndall to provide local regulatory expertise and client support.
Moneta said the move was driven by increasing numbers of existing clients relocating to the UK, highlighting the continued growth of the cross-border wealth management market. As we know, US citizens living overseas remain subject to US tax rules regardless of where they reside, with the potential for severe penalties for non-compliance, creating demand for advisers with expertise in both US and UK financial systems.
Japan May Redirect State Pension Investments
Global investment managers based in Japan, including BlackRock, State Street and Legal & General, could see a reduction in fees after the Japanese government signalled that it wants the country’s state pension funds to increase investment in domestic assets. The aim is to foster a virtuous cycle between domestic economic growth and public asset accumulation as Japan transitions to a positive interest-rate environment.
Finance Minister Satsuki Katayama said the government intends to encourage Japan’s public pension funds to allocate substantially more money to the domestic economy. The move could affect the Government Pension Investment Fund (GPIF), the world’s largest pension fund, with assets of around US$1.8 trillion.
At present, foreign asset managers oversee almost all of GPIF’s US$930 billion of overseas investments, earning an estimated 21 billion yen (US$130 million) in management fees during the year to March 2025.
Analysts believe any changes are likely to be gradual rather than immediate. GPIF has only recently adopted a new five-year investment strategy, and there are currently no plans to alter its overall target asset allocation. However, the fund could increase domestic investment within its existing flexibility, potentially reducing mandates for overseas managers while benefiting firms with strong Japanese investment capabilities.
The proposal reflects a broader policy objective of directing more of Japan’s substantial retirement savings towards supporting domestic economic growth.
Younger British Professionals Increasingly Choosing Spain
Spain’s traditional image as a retirement destination for British expats is changing, with growing numbers of younger, working-age professionals choosing to make the country their home.
Analysis from international employment specialist Agility EOR suggests that people aged between 25 and 44 are now among the most mobile British expats. Remote working, comparatively affordable living costs and Spain’s lifestyle are all contributing to the shift.
Spain’s Digital Nomad Visa (Visado de Trabajo a Distancia) has helped accelerate the trend by allowing eligible overseas employees and self-employed professionals to live in the country while working remotely. The visa grants up to a three-year residence permit if applied for from within Spain, or a one-year visa if applied for through a consulate abroad, with renewals allowing a total stay of up to five years. Almost 32,000 digital nomad visas have reportedly been issued since the scheme was introduced, with applications continuing to increase.
The change coincides with a strong Spanish labour market. Employment has risen above 22 million, with foreign nationals accounting for almost 16% of the workforce.
Cost is another important consideration for British professionals retaining UK-linked incomes. Rents in cities including Valencia, Seville and Alicante can be substantially lower than in comparable British cities, while Spanish property prices also remain generally below UK levels.
Traditional retirement destinations such as the Costa Blanca and Costa del Sol remain popular, but Spain’s British community is increasingly being supplemented by younger, career-focused and internationally mobile residents.
This can be seen as part of a bigger picture: recent Spanish statistics also indicate that the British-born population has been declining, from nearly 300,000 in 2022 to about 282,000 in 2024, while more British over-65s are leaving than arriving.