The launch of the program has been backed by the Dubai Shopping Malls Group and the Dubai Gold and Jewellery Group, as well as the support of local authorities, who see this initiative as a tool to revive traditional retail in a context where competition from shopping malls and digital platforms is increasing. The Gold Souk, with its unmistakable ambiance and rich cultural heritage, thus consolidates itself as a space where tradition and innovation go hand in hand to enhance the visitor experience.
How the program works is simple: tourists must link their boarding pass to the UTU app and make purchases at participating establishments. Instead of receiving the classic bank refund of VAT, they have the option of transforming that amount into a digital voucher with an additional value that can be used on future purchases in Dubai. This approach not only increases the value perceived by the tourist, but also stimulates the return visitor and reinforces loyalty to the Gold Souk stores.
According to statements by Asad Jumabhoy, CEO of UTU, this return model seeks to empower the tourist consumer by giving them greater control and better benefits for their purchases. "Tourists are entitled to fairer and more rewarding options when receiving their tax refunds. Our system puts the power of decision in the hands of the traveler and, at the same time, generates a positive impact on the local economy," stressed the executive.
This initiative also aligns with Dubai's strategic objectives in tourism and trade by encouraging a more circular and sustainable economy within the retail sector. The Gold Souk, which has for decades been a magnet for visitors in search of gold jewelry and precious stones, is now positioned as an example of modernization within shopping tourism, without losing its historical essence.
UTU's new program is being launched at a key moment for Dubai, which in recent years has redoubled its efforts to consolidate its position as one of the world's leading tourist destinations. The city has committed to digitalization, innovation and constant improvement of the traveler experience as pillars of its strategy, and this project fits perfectly into that vision.
This measure is expected not only to attract a greater number of tourists interested in getting more value for their purchases, but also to boost the competitiveness of traditional commerce vis-à-vis large international retailers and platforms. Dubai thus demonstrates that, even in places where tradition carries enormous weight, it is possible to innovate in order to adapt to the new expectations of global travelers.
