Page 564 - MOE ENGLISH PR - MAY 2024

During the Investopia Europe sessions, experts addressed the UAE’s new economic model
centred around knowledge and innovation. Their discussions emphasized the unique
prospects and enablers this model offers to Italian and European businesses of varying

scales. Moreover, this model strives to foster a competitive landscape favourable for the
expansion of SMEs. Additionally, the experts underscored the UAE’s economic significance
and its strategic location in bolstering global economic progress.

They outlined the vital role of the Mediterranean region in strengthening economic ties
between the Middle East and Europe and the significance of SMEs in driving economic

growth. They further highlighted the strategies for countries to collaborate through policy
coordination and economic partnerships in response to rapid global changes.

Participants highlighted that the transition towards sustainability poses a significant
challenge for both small and medium-sized enterprises. This challenge requires substantial
investments in the creative economy, technology, and AI sectors to effectively address this

challenge. It is crucial to capitalize on cutting-edge technologies and adhere to global best
practices in developing creative economy industries.

Moreover, Investopia Europe sessions highlighted the significance of fostering collaboration
to establish policies and develop a tourism experience that promotes sustainable tourism

industry. They emphasized the need for investing in professional training and education
across various sectors of the tourism, recognizing its vital role as a key contributor to
economies around the world.

Experts reviewed the emerging trends in the tourism and hospitality sectors, focusing on the
importance of innovation, sustainable practices, and international cooperation. These

factors play a crucial role in driving the growth of the industry and enhancing visitor
experiences. Additionally, solutions to address the challenges that hinder the growth of
global tourism sector were discussed.

In this context, the speakers highlighted the UAE’s distinctive approach to investing in the

tourism and hospitality sectors, along with the development of state-of-the-art tourism
infrastructure. They emphasized that this approach serves as a unique model for attracting
international tourism investments. This approach focuses on investments in sectors and
activities that foster growth and prosperity in tourism industry, particularly in the current

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investments-for-both-uae-and-european-business-communities/