UAE Current Affairs - 2020

New Natural Gas Reserves discovered in UAE

On February 2, 2020, the United Arab Emirates discovered shallow natural gas reserves of about 80 trillion cubic feet. The reserve was discovered between the Emirates of Abu Dhabi and Dubai.

Highlights

In November 2019, UAE announced the discovery of 7 billion barrels of oil. This raised the crude reserves of the country to 105 billion barrels making it the sixth largest in the world. IT had also announced the discovery of 58 trillion cubic feet of gas. This puts the total reserves of natural gas of UAE to 273 trillion cubic feet conventional gas and 160 trillion cubic feet unconventional gas.

UAE

The UAE is formed by seven Emirates namely Dubai, Abu Dhadi, Ajman, Sharjah, Ras Al-Khaimah, Fujairah and Umm Al-Quwain. Around 30% of the GDP of the country is directly based on oil and gas.

India-UAE

The India-UAE bilateral trade currently stands at 59.9 billion USD. India is the third largest investor in UAE. There are more than 2 million Indian population living and working in UAE. The total remittances from UAE to India in the year 2009 was 10 to 12 billion USD. This is one-third of the total remittances received by India and also highest among all the GCC countries.

Abu Dhabi selected as World’s leading Sports Tourism Destination

Abu Dhabi has been selected as the World’s leading Sports Tourism Destination for seventh time in a row. This time the coveted award was conferred at 26th edition of World Travel Awards (WTA), being held in Muscat, Oman.

In 2019, Abu Dhabi gained many prestigious accolades, including being selected as Best City Break at UK’s Selling Travel Agents’ Choice Awards and West Asia’s Leading Business Tourism Destination at the West Asia edition of WTA.

Why was Abu Dhabi Awarded?

Abu Dhabi, the capital of UAE, has been making strides within sports tourism by developing and promoting sports facilities and events.  In early 2019, Department of Culture and Tourism, Abu Dhabi had announced a 5-year partnership with Ultimate Fighting Championship (UFC) for hosting annual premier fixtures in capital as part of Abu Dhabi Showdown Week. Also, recently the emirates has won the rights to host 2020 FINA Short Course World Championship.

Abu Dhabi has shined as a premium destination for sports tourism once again this year, after hosting some of the world’s top sporting events like: FIFA Club World Cup 2017 and 2018, the first edition of UAE Tour, the UFC 242 showdown, the Special Olympics World Games 2019, the AFC Asian Cup 2019, and the Brazil vs South Korea international friendly match.

Abu Dhabi also continues to play host to annual acclaimed sports events including Formula 1 Etihad Abu Dhabi Grand Prix, the ITU World Triathlon Abu Dhabi, the Mubadala World Tennis Championship, the ADNOC Abu Dhabi Marathon and the Abu Dhabi Golf Championship.

About World Travel Awards (WTA)

WTA was established in 1993. They are made annually by an international jury of hospitality experts and peers, mainly from World Travel and Tourism Council (WTTC). The awards are given both on an overall world-level basis, and on 8 international region-levels. It acknowledges and rewards excellence across all key sectors of hospitality, travel and tourism industries.

NOTE: The United Nations World Travel Organisation (UNWTO), has labelled Sports tourism as one of the fastest growing sectors of tourism worldwide.