Innovative Tourist Refund Vouchers Boost Spending in Dubai's Gold Souk

Travel fintech utu launches a pioneering tourist refund voucher program in Dubai's Gold Souk. Tourists can convert tax refunds into higher-value vouchers, enhancing spending power in participating stores. The initiative aligns with Dubai's goal to maximize tourist spending, while utu plans broader expansion across the UAE.

In a groundbreaking move, travel fintech company utu has introduced Dubai's first downtown tourist refund voucher program, aimed at boosting spending in the famed Gold Souk. The initiative allows tourists to convert tax refunds into vouchers worth up to 25% more, accessible via utu's web app and redeemable in-store.

The program operates seamlessly with existing UAE frameworks, offering immediate benefits without altering official procedures. Tourists purchasing from participating Gold Souk merchants can upgrade their refund to a voucher through an easy process on the utu web app, aided by store staff guidance.

With over 380 traders, the launch positions the Gold Souk as a key driver of increased tourist spending. Partnering with prominent names like Thangals Jewellery, utu's voucher system is set to enhance Dubai's retail ecosystem, aligning with its objective of heightened tourist expenditure while preserving regulatory compliance.

(With inputs from agencies.)