Official figures indicate that cancellations of residency visas in January 2008 rose 86% over January of 2007.  Dubai’s Ministry of Interior Naturalization & Residency (DNRD) released data showing that 54,684 residency visas were cancelled during the month of January, compared with 29,418 in January 2008.  This translates to approximately 1,764 per day, higher than the 1,500 cancellations reported in the media during the past three weeks.

The DNRD also released data showing that the number of new residency visas issued in January was higher than the number cancelled, with 88,423 visas being approved.  The figures support Dubai’s chief economist’s comments on Sunday in which he said the number of visas issued in the emirate remained “net positive”.

 “Dubai’s economy has always been dynamic and resilient and this is mainly due to the great leadership of the country that managed over the last four decades to turn every challenge into an opportunity,” said Major General Mohammed Ahmad Al Marri, director of the Interior Naturalization & Residency.

The total number of inbound and outbound travelers exceeded 6.6 million during the last quarter of 2008, compared to 5.8 million for the same period the previous year.