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Egypt Applies Zero-Customs for Gold Expo Participants

An exhibitor displays gold jewelry to a client during the last edition of the Nebu Expo for Gold. (Asharq Al-Awsat)
An exhibitor displays gold jewelry to a client during the last edition of the Nebu Expo for Gold. (Asharq Al-Awsat)
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Egypt Applies Zero-Customs for Gold Expo Participants

An exhibitor displays gold jewelry to a client during the last edition of the Nebu Expo for Gold. (Asharq Al-Awsat)
An exhibitor displays gold jewelry to a client during the last edition of the Nebu Expo for Gold. (Asharq Al-Awsat)

Egypt approved a zero-customs policy for participants of the Nebu Expo for Gold and Jewelry, scheduled for the end of November.

Head of the Gold Division at the Cairo Chamber of Commerce, Hani Milad, announced that the Egyptian Customs Authority agreed with the Assay and Weights Authority to exempt international participants from gold customs and taxes, allowing them to bring their products in their luggage.

The third edition of Nebu will be held between Nov. 25 and 27 amid a rise in the price of gold.

Milad explained that exhibitors in the past two editions had to agree with a shipping company and pay customs and tax duties, which affected the percentage of participants.

However, he expects the number of international participants to double with the new facilities introduced, as long as the incoming shipments will be re-exported with the exhibitors.

Authorities aim to transform Egypt into an international and regional center for gold and jewelry.

According to a document seen by Asharq Al-Awsat, there are 13 steps in the new plan, beginning with the Gold Division notifying the Assay and Weights Authority with a list of names and data of the international exhibitors scheduled to participate in the expo.

It will also include a detailed statement of the types and specifications of the artifacts accompanying the exhibitor.

The document stated that the Assay and Weights Authority would inspect the jewelry and coordinate between customs, exhibitors, and organizers.

Egypt International Exhibitions Center Customs will deliver to the exhibitor a temporary release permit and a secured safe containing the artifacts imported with them. Before departure, they must provide the safe to the authorities for examination and verification.

Head of Assay and Weights Authority Ahmed Soliman approved the new procedures during a meeting with representatives from the Egyptian Customs Authority and the Gold Division.

Gold Division spokesman Wael Shahboun stated that these measures would double the number of international exhibitors at the expo, which supports Egypt’s efforts to transform into a global and regional hub for gold and jewelry.

Shahboun pointed out that most of the exhibitors in the upcoming Nebu exhibition are from Türkiye and Italy.

He told Asharq Al-Awsat that the government is expected to extend the customs and tax-free period for gold imports for another six months.

The Gold Division had submitted a request to the cabinet to exempt gold imports carried by passengers from customs and taxes for another six months.

Shahboun explained that there are indications that the government would agree to the extensions, backed by Minister of Trade and Supply Ali el-Moselhi and the shortage of raw gold and dollars in the country.

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Gulf States Expand Tourism Footprint as Emerging Markets Gain Momentum at Arabian Travel Market in Dubai

Saudi Arabia’s participation in the Arabian Travel Market (Asharq Al-Awsat) 
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Gulf States Expand Tourism Footprint as Emerging Markets Gain Momentum at Arabian Travel Market in Dubai

Saudi Arabia’s participation in the Arabian Travel Market (Asharq Al-Awsat) 
Saudi Arabia’s participation in the Arabian Travel Market (Asharq Al-Awsat) 

Emerging tourism markets are carving out space on the global travel map, drawing attention for their dynamic participation at the Arabian Travel Market (ATM) in Dubai, while Gulf nations—particularly Saudi Arabia and the United Arab Emirates—are accelerating their expansion in the tourism sector.

As global travel gathers momentum, Gulf-based airlines are eyeing new investment opportunities despite lingering global economic uncertainty, driven by shifting trade patterns and evolving consumer behavior in the international travel landscape.

The 32nd edition of ATM opened in Dubai with more than 2,800 exhibitors and nearly 55,000 industry professionals from 166 countries. Held under the theme “Empowering Innovation: Transforming Travel Through Entrepreneurship,” the event emphasized building a more sustainable and globally integrated travel industry.

The exhibition reflects the profound changes shaping global tourism, with cross-border and sustainable connectivity now central to the industry’s development. It also highlights the growing influence of emerging markets and the increasing role of Gulf investments in tourism and aviation.

During its participation in ATM, the Saudi Tourism Authority showcased the Kingdom’s accelerating tourism growth, revealing it had attracted approximately 116 million visitors in 2024—a 6.4% increase from the previous year. Fahd Hamidaddin, the authority’s CEO, said Saudi Arabia aims to strengthen its position as a unique summer destination through a robust calendar of events and strategic private-sector partnerships. The focus is on key source markets across the Middle East, Asia, and Africa.

UAE Tourism Supports Economic Diversification

UAE Minister of Economy and Chairman of the Emirates Tourism Council, Abdulla bin Touq Al Marri, emphasized the country’s growing stature as a global tourism hub. He pointed to the launch of major national initiatives that align with best international practices, support economic diversification, and attract investment in hospitality, aviation, and travel.

According to bin Touq, the UAE’s tourism sector continued to deliver strong performance in 2024. Hotel revenues rose to AED 45 billion (USD 12.2 billion), up 3% from 2023, while occupancy rates reached 78%, among the highest globally. The country added 16 new hotels last year, increasing the total to 1,251, with room capacity growing 3%. Hotel guests rose 9.5% year-on-year to 30.8 million, achieving 77% of the UAE’s 2031 national tourism target seven years ahead of schedule.

Gulf Airlines Gear Up for Growth

Etihad Airways CEO Antonoaldo Neves said the airline has yet to feel any major impact from global trade tensions, with seat occupancy remaining strong despite global uncertainty. Etihad plans to add 20 to 22 aircraft in 2025, with the goal of expanding its fleet to more than 170 aircraft by 2030. Neves also noted that the euro’s recent appreciation could boost European travel to the Gulf.

Etihad, which currently operates a fleet of around 100 aircraft, has significant financial flexibility, with 60% of its fleet debt-free. “If a crisis arises, we can ground planes and save up to 75% of operating costs,” he noted.

The airline plans to receive 10 Airbus A321XLR jets starting in August, in addition to 6 Airbus A350s and 4 Boeing 787s. Neves said while delays in aircraft delivery remain a challenge, they have not altered Etihad’s growth strategy. He also confirmed ongoing discussions with manufacturers and signaled interest in Boeing aircraft originally designated for China but now potentially available due to trade restrictions.

Riyadh Air Nears Major Aircraft Deal

Tony Douglas, CEO of Saudi Arabia’s Riyadh Air, said the new airline is open to acquiring Boeing jets initially built for the Chinese market if trade disputes disrupt those deliveries.

Douglas said global economic headwinds have not affected demand and announced plans to finalize a major widebody aircraft deal soon. The airline aims to expand its workforce to around 1,000 employees in the coming year, as it prepares to begin operations in the fourth quarter of 2025.

Commenting on broader regional developments, Douglas said the resumption of flights from the UAE to Syria and the use of Syrian airspace “may be an early sign that conditions are improving.”