Dubai approves $272 million in incentives to cushion economy

Dubai is rolling out a 1 billion-dirham ($272 million) package of economic incentives to cushion businesses and households from war-related disruptions.

The new measures – which include deferred government fees, delayed hotel levies and extended customs grace periods to boost liquidity – were approved today by Crown Prince Sheikh Hamdan bin Mohammed, Chairman of the Executive Council of Dubai.

The package will be introduced over the next three to six months and includes streamlined residency permits aimed at attracting talent.

A U.N. Development Program analysis estimates Arab economies could lose between $120 billion and $194 billion in GDP due to the conflict’s impact.