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Why SandboxAQ says the Gulf must lead on GPS alternatives

Luca Ferrara, GM of AQNav at SandboxAQ, on their new quantum-based navigation system, and why it could offer the Gulf a strategic edge in aviation resilience

Neesha Salian
Neesha Salian

06 August, 2025

Why SandboxAQ says the Gulf must lead on GPS alternatives
Image: Supplied

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As GPS disruptions escalate across the Middle East, affecting everything from flights to smartphones, the risks to national security and economic stability are mounting.

Gulf Business speaks with Luca Ferrara, GM of AQNav at SandboxAQ, about why GPS has become aviation’s single point of failure — and how their new quantum-based navigation system, recently tested with Airbus, could offer the Gulf a strategic edge in aviation resilience.

GPS disruptions have made headlines in the Middle East recently, with incidents affecting shipping, aviation, and even personal devices. How serious is this threat, and what risks does it pose to regional economies and safety?

It’s far more serious and taking place to a far greater degree than many people realise. Many commercial flights lose satellite signals mid-air, and when tensions in the region flared up recently, we even saw people in the UAE complain about their phones’ clocks and maps being impacted.

What makes this especially urgent for the Gulf is how much of the economy and infrastructure depends on GPS. Every oil shipment, every aircraft, every logistics hub, all of it depends today on the signals from GPS satellites. And when these signals are jammed or spoofed the ripple effects can jeopardise safety, national security, and public trust.

Why has GPS become such a critical vulnerability for aviation, and why is it often described as a single point of failure? Don’t reliable fallbacks already exist?

It’s not an exaggeration to say that presently, GPS is the single most important navigation tool globally, especially for aviation. But in case of failure, the fallbacks deployed at present are not built for the scale and complexity of modern air traffic.

If a plane loses GPS, pilots have to revert to radar and radio communication with control towers, which are already under strain. They also switch to inertial navigation which drifts over time, like a spinning top wobbling out of balance.

Beyond GPS jamming there is also GPS spoofing, where the pilot is not aware that they are navigating with a misdirected fake GPS signal. That’s even more dangerous because you don’t even know you’re off course.

SandboxAQ and Airbus recently announced the successful completion of comprehensive real-world trials of AQNav, a GPS-independent alternative. Can you explain how it works and why it offers greater resilience?

Absolutely. The system we’ve pioneered, AQNav, takes a radically different approach to positioning, inspired by nature. Birds and whales have been navigating vast distances for millennia by sensing the Earth’s magnetic field.

Today we have the technology to achieve biomimicry of this capability. At SandboxAQ, we are using ultra-sensitive quantum sensors to detect the changes in the magnetic field as a plane flies. Then we combined that with AI-powered software running on compact, low-power GPUs, to compare the detected magnetic field with the magnetic map of the Earth.

All this is done without reliance on any external sources such as satellites. It’s entirely self-contained, about the size of a toaster, passive (so it can’t be jammed or intercepted), and inherently resilient to spoofing. Everything happens inside the device. That’s the beauty of it — simple, elegant, and resilient.

Your testing shows AQNav met FAA standards across more than 100 flights. What do these results tell us about its commercial viability and reliability?

Those results give us enormous confidence in both the technology and its readiness for real-world use. Over more than 100 flights, across diverse geographies and conditions, AQNav consistently showed performance that could satisfy FAA standards known as RNP1 and RNP2.

In total, we logged over 44,000 kilometres, which is more than the circumference of the Earth. And we did all this without GPS. That’s proof not just of the science, but of the commercial viability. The system is already being tested with the biggest players in the industry — Airbus, Boeing, and the US Air Force.

Why are you inviting Middle East airlines and governments to participate in the next phase of testing? How can the region take a leading role in adopting this technology?

The Gulf is uniquely positioned to lead here. This region sits at the crossroads of global air travel, is home to some of the fastest growing airlines and logistics hubs in the world. At the same time, given ongoing geopolitical issues, it is also a region that faces some of the highest levels of GPS interference globally.

This combination of high stakes and strong growth makes the Gulf the perfect proving ground for resilient navigation. By partnering with us early, Gulf region airlines and governments can help shape the future of aviation safety, sovereignty, and resilience.

How AIR’s founder is building the future of real estate tech

Milad Monshipour’s AIR platform is using Dubai as a launchpad to build AI-native property journeys that eliminate inefficiency and friction

Rajiv Pillai
Rajiv Pillai

06 August, 2025

How AIR’s founder is building the future of real estate tech
Milad Monshipour, the founder and CEO of AIR/Image: Supplied

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Milad Monshipour, the founder and CEO of AIR (AI Realtor), is no stranger to disrupting established sectors. After leading mobility app TAPSI to a historic IPO, he has now set his sights on real estate. With AIR, he is introducing an AI-native brokerage model, designed not just to digitalise, but to fundamentally restructure how property transactions work in one of the world’s most dynamic real estate markets: Dubai.

“Unlike surface-level system integrations that merely layer AI-based features onto traditional systems, AIR is AI-native,” says Monshipour. “It has been designed from the ground up to employ artificial intelligence as the core engine driving the entire property journey.”

AIR comprises three proprietary tools—AIR Brain, AIR Match, and AIR Value—that guide the user journey, from discovery to closing, using Dubai-specific data sets. “AIR was trained specifically on Dubai’s real estate data with advanced algorithms, enabling a level of localisation and precision unmatched by generic global tools,” he adds.

Fixing a fragmented market

Monshipour believes real estate is the Middle East’s next big tech disruption—not fintech, not mobility. The reason is clear: property transactions across the region remain opaque, heavily manual, and fragmented. “AIR aims to fix this by streamlining discovery, automating admin-heavy tasks, and providing real-time information to both buyers and agents,” he says.

Dubai’s market conditions make it ripe for this transformation. It is highly digital, fast-growing, and backed by clear regulations and data transparency. Yet the industry still depends heavily on brokers navigating inconsistent, time-consuming workflows. “In a dynamic and fast-growing market like Dubai, it is the right time to rethink how real estate operates and to give buyers and brokers a smarter, faster, and more transparent experience.”

Built inside-out, not adapted top-down

Monshipour argues that startups in the region must build with local DNA. “In markets like the UAE, and Dubai in particular, the nuances are too complex for imported models to succeed without significant adaptation,” he says. “Dubai is, in many ways, ahead of the curve globally, with advanced regulation, data transparency, seamless digital processes, and a property market that far exceeds its population size in scale and dynamism.”

AIR’s foundation reflects that philosophy. “Our data models are trained exclusively on Dubai-specific datasets, making the platform naturally attuned to local demand, legal frameworks, and customer behaviour.”

That grounding in local insight doesn’t mean AIR lacks global ambition. The startup plans to expand to other markets, but only after proving itself in Dubai. “Our first focus is to perfect the Dubai model within 6–9 months,” he says. “From there, we see strong parallels in other high-growth, high-transparency real estate markets within the GCC region, and regulatory advanced markets—Australia and the UK.”

Not replacing brokers—empowering them

Unlike narratives around AI eliminating jobs, AIR is positioning itself as a broker-enablement platform. “AIR is designed not to replace brokers, but to supercharge them,” says Monshipour. “Our AI assumes control for tasks that machines can do best… so that agents can focus on where they deliver the most value: negotiations, personalised advice, and human connection.”

He explains how AIR dynamically adjusts its involvement. “The system steps back when a human touch is needed and steps in when efficiency is paramount.”

A smarter customer journey

AIR isn’t just about flashy tech. Its tools are built for utility. AIR Brain tracks user preferences from the first point of contact. AIR Match recommends listings in real time, and AIR Assistant manages follow-ups, CRM inputs, and even viewing schedules. Meanwhile, AIR Value helps agents negotiate with real-time pricing logic.

“All this happens in the background, ensuring a seamless experience journey for the client, while the agent stays focused on relationship building and strategy,” he says.

Consumers, Monshipour notes, are rarely resistant to such innovation. “They’re actively craving better experiences and are quick to recognise when a product like AIR delivers that.”

Lessons from TAPSI

As a second-time founder, Monshipour has approached AIR with a refined playbook. “At AIR, we’re building with global scalability in mind and not limiting ourselves to traditional growth trajectories—speed and ambition matter,” he says.

“Another key shift is rethinking conventional approaches. The real estate industry is full of legacy practices, and we’re intentionally challenging those by leveraging technology in new ways.”

He’s also more deliberate about team building. “I know that having top-tier talent from the outset can significantly accelerate execution and innovation.”

Enabling a new infrastructure layer

Monshipour is clear that AIR isn’t aiming to become just another listing platform or brokerage. “We’re not just building a unicorn; we’re reimagining the entire real estate ecosystem,” he says.

“Agents will remain essential, but their roles will evolve and be significantly augmented by AI. A few high-performing, tech-enabled firms will emerge as dominant players, delivering consistent, transparent, and superior customer service, often at lower costs.”

He envisions a future where listing platforms and brokerages blur, and AIR operates as the connective tissue powering both. “That’s where the real disruption lies… becoming a unicorn is simply the starting point.”

Why Dubai?

For AIR, Dubai isn’t just a launchpad—it’s the ideal testbed. “The real estate market is large, fast-moving, and supported by some of the most advanced regulations anywhere in the world,” Monshipour says.

Read: Dubai PropTech Hub launches at DIFC Innovation Hub

He also credits the UAE’s investment climate and growing appetite for tech talent. “From an investment perspective, the success of companies like Souq, Careem, Noon, and more recently, Tabby and Huspy, has shifted investor confidence towards tech ventures.”

AIR hopes to play a role in attracting top-tier AI talent to the UAE. “Our current team reflects that ambition, and we expect this trend to accelerate as the ecosystem continues to evolve.”

IHC posts Dhs10.8bn H1 profit on robust revenues, strategic bets pay off

IHC said it is well-positioned to benefit from emerging market opportunities, supported by a growing international footprint, long-term capital strategy, and operational resilience

Gulf
Gulf

06 August, 2025

IHC posts Dhs10.8bn H1 profit on robust revenues, strategic bets pay off
Image: IHC/ X

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Abu Dhabi’s International Holding Company (IHC) reported a 31.1 per cent rise in revenue for H1 2025, reaching Dhs54.7bn, with net profit climbing to Dhs10.8bn, driven by strong portfolio performance, disciplined investments, and a standout second quarter.

The second quarter was among the group’s strongest, with revenue up 22.5 per cent year-on-year to Dhs27.5bn and net profit rising 55.3 per cent to Dhs6.7bn.

“Our H1 2025 results reflect the continued strength of IHC’s diversified model and the disciplined execution of our strategic investment agenda,” said Syed Basar Shueb, CEO of IHC. “By delivering outstanding portfolio performance and enhancing operating leverage, we are unlocking value across sectors while deepening our impact across regional and international markets.”

Key segments such as real estate, marine and dredging, hospitality and leisure, and financial services led topline and margin growth.

Real estate and construction contributed Dhs22.6bn in revenue, up 47.8 per cent year-on-year and accounting for over 41 per cent of the group’s topline.

Marine and dredging posted Dhs14.1bn, rising 10.8 per cent, while hospitality and leisure saw revenue jump 72 per cent to Dhs4.9bn. Financial services and energy also posted solid growth, rising 21.4 per cent and 161.3 per cent respectively.

Earnings per share stood at Dhs2.49, with return on equity at 10.8 per cent.

Total assets climbed to Dhs436.9bn, up 8.7 per cent from the end of 2024.

IHC’s strategic activity included the launch of Gridora, a national infrastructure platform formed with ADQ and Modon, and RIQ, an ADGM-based global reinsurance platform developed in partnership with BlackRock and Lunate.

Read: IHC, RIQ form 10-year alliance, positions Abu Dhabi as key reinsurance hub

The group also collaborated with ADQ and First Abu Dhabi Bank on a UAE dirham-backed stablecoin, and led its subsidiaries to the 2025 World Economic Forum in Davos.

Looking ahead, IHC said it is well-positioned to benefit from emerging market opportunities, supported by a growing international footprint, long-term capital strategy, and operational resilience.

IHC H1 2025 highlights

  • Multiply Group acquired a 67.91 per cent stake in European fashion retailer Tendam.

  • Reem Finance stake acquisition (69.33 per cent) to expand financial services presence.

  • eFunder rebranded to Zelo, offering digital-first invoice financing for SMEs.

  • Dirham-backed stablecoin project with FAB and ADQ to promote blockchain innovation.

  • Modon entered UK real estate via a 50 per cent joint venture in London’s 2 Finsbury Avenue.

  • Al Ain Farms acquired Al Jazira Poultry Farm for Dhs255m.

  • Aldar expanded logistics footprint with Dhs530m ALMARKAZ acquisition.

  • NMDC Group acquired 70 per cent of Emdad, adding recurring oilfield service revenue.

  • Esyasoft bought UK-based Good Energy in a Dhs53m renewable tech push.

  • PureHealth acquired a 60 per cent stake in Hellenic Healthcare Group for $2.3bn.

IHC said it will continue to “connect innovative businesses with long-term capital and operational excellence”, aiming to deliver scalable value while playing an active role in shaping the economic ecosystems of tomorrow.

Qatar weighs in on global tokenisation rules with new policy report

The Qatar Financial Centre (QFC) has unveiled a new report outlining the regulatory and infrastructure priorities needed to unlock the potential of tokenising real‑world assets

Gareth van Zyl
Gareth van Zyl

05 August, 2025

Qatar weighs in on global tokenisation rules with new policy report
Henk J. Hoogendoorn, QFC’s chief financial sector officer. (Image: Supplied)

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Qatar is setting its sights on becoming a key player in global tokenisation frameworks as the market heads towards a potential $16tn by 2030.

The Qatar Financial Centre (QFC) has unveiled a new report, produced with Global Stratalogues and the Global Blockchain Business Council (GBBC), outlining the regulatory and infrastructure priorities needed to unlock the potential of tokenising real‑world assets.

The projection for a $16tn market comes from Boston Consulting Group and ADDX, which estimate tokenisation could represent around 10 per cent of global GDP by the end of the decade.

Drawing on insights from the inaugural Digital Assets Policy Roundtable held in Doha alongside the Qatar Economic Forum earlier this year, the report, entitled From Regulation to Realisation: Shaping the Future of Digital Assets, captures consensus among regulators, financial executives and industry experts from across multiple jurisdictions.

The findings highlight five priorities: align cross‑border regulations, invest in core infrastructure, embed financial inclusion, coordinate AI‑blockchain governance and establish public‑private “tokenisation labs” to validate real‑world use cases.

“Tokenisation can unlock real value by making assets more accessible and easier to transfer,” said Yousuf Mohamed Al‑Jaida, CEO of the QFC.

“To realise this potential, we need a clear system that combines robust regulation, secure custody and practical application. This will create a trusted environment that enables institutional adoption and drives sustainable market growth.”

Pragmatism before perfection

The report urges a measured, infrastructure‑first approach to tokenisation.

“Tokenisation must serve a purpose,” said Henk J. Hoogendoorn, QFC’s chief financial sector officer.

“It should democratise access and create real‑world value. Qatar is committed to making tokenisation of real‑world assets a success.”

Maha Al‑Saadi, head of regulatory Affairs at QFC and moderator of the roundtable, added: “Regulatory clarity is not a luxury, it is a prerequisite for scalable tokenisation. Our goal is to bridge global standards with local implementation to ensure digital assets can operate within a trusted and secure environment.”

Speakers at the Inaugural Digital Assets Policy Roundtable hosted by Qatar Financial Centre alongside Qatar Economic Forum. From Left: Patrick Tan (HELIX), Zane Suren (Zodia Custody), Shaun Swan (QFCRA), Mohammel Al-MXXX) Heinz Konzett (Lichtenstein), Henk J. Hoogendoorn (QFC), Arjun Vir Singh (ADL), Saloi Benbaha (XDC Network), Giovanni Everduin (CBI), Sandra Ro (GBBC), Jorge Carrassco (FTI), Tanvi Singh (GBBC), Michal Gromek (Global Coalition to Fight Financial Crime), Maha Al-Saadi (QFC), Oscar Wendel (Global Stratalogues), Bashir Kazour (Taurus).
Speakers at the Inaugural Digital Assets Policy Roundtable hosted by Qatar Financial Centre alongside Qatar Economic Forum. From Left: Patrick Tan (HELIX), Zane Suren (Zodia Custody), Shaun Swan (QFCRA), Mohammel Al-MXXX) Heinz Konzett (Lichtenstein), Henk J. Hoogendoorn (QFC), Arjun Vir Singh (ADL), Saloi Benbaha (XDC Network), Giovanni Everduin (CBI), Sandra Ro (GBBC), Jorge Carrassco (FTI), Tanvi Singh (GBBC), Michal Gromek (Global Coalition to Fight Financial Crime), Maha Al-Saadi (QFC), Oscar Wendel (Global Stratalogues), Bashir Kazour (Taurus).

Co‑author of the report and founder of Global Stratalogues, Oscar Wendel, said: “This report distils the collective intelligence of global thought leaders, financial experts and regulators. It is designed to help lay the policy foundations for inclusive and interoperable digital asset markets worldwide.”

Oscar Wendel, Founder & Chairman, Global Stratalogues and co-author of the report, closes the Inaugural Policy Roundtable in Doha.

Regional momentum

The Gulf is emerging as a testbed for tokenisation innovation.

In Dubai, the Virtual Assets Regulatory Authority (VARA) has introduced a regulated framework for asset‑referenced virtual assets, enabling tokenised real estate offerings. One recent example saw Prypco Mint sell out a Dh1.75 mn tokenised villa in under five minutes. The home was tokenized by 169 investors from 40 nationalities, with an average investment size of Dh10,355.

In January, Dubai‑based DAMAC Group signed a $1bn deal with blockchain platform MANTRA to tokenise real estate projects. Both initiatives reflect a broader shift in the region towards regulated, institution‑ready tokenisation models.

The QFC’s report, available online, positions Qatar to lead regional efforts in setting digital asset standards.

With a focus on clear rules, strong infrastructure and inclusion, Doha is making a play to turn tokenisation’s promise into a lasting pillar of Gulf and global finance.

India unites against US tariff threat over Russian oil trade

The trade tensions have caused concern about the potential impact on India’s economy.

Reuters
Reuters

05 August, 2025

India unites against US tariff threat over Russian oil trade

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India’s ruling party and main opposition condemned on Tuesday a threat by US President Donald Trump to raise tariffs on goods from India over its Russian oil purchases, in a show of political unity as a trade rift deepens with Washington.

Trump had already in July announced 25 per cent tariffs on Indian imports, and US officials have cited a range of geopolitical issues standing in the way of a US-India trade accord.

Manish Tewari, a member of parliament and leader of the opposition Congress, said Trump’s “disparaging remarks hurt the dignity and self-respect of Indians”.

“The time has come to call out this constant bullying and hectoring,” he added.

BJP Vice President Baijayant Jay Panda quoted Henry Kissinger — the most powerful US diplomat of the Cold War era — in a post on X: “To be an enemy of America can be dangerous, but to be a friend is fatal.”

India’s Foreign Ministry said the country was being unfairly singled out over its purchases of Russian oil, and highlighted continued trade between Moscow and both the United States and the European Union, despite the war in Ukraine.

“It is revealing that the very nations criticising India are themselves indulging in trade with Russia,” it said in a statement issued late on Monday.

“It is unjustified to single out India,” the ministry said.

It said the EU conducted 67.5 billion euros ($78.02bn) in trade with Russia in 2024, including record imports of liquefied natural gas (LNG) reaching 16.5 million metric tons.

The United States, the statement said, continues to import Russian uranium hexafluoride for use in its nuclear power industry, palladium, fertilisers and chemicals. It did not give a source for the export information.

The US embassy and the EU’s delegation in New Delhi did not immediately respond to a request for comment.

Both the United States and EU have sharply scaled back their trade ties with Russia since it launched a full-scale invasion of Ukraine in February 2022.

In 2021, Russia was the EU’s fifth-largest trading partner, with goods exchange worth 258 billion euros, according to the EU executive European Commission.

SUDDEN RIFT

India is the biggest buyer of seaborne crude from Russia, importing about 1.75 million barrels per day of Russian oil from January to June this year, up 1 per cent from a year ago, according to data provided to Reuters by trade sources.

It has faced pressure from the West to distance itself from Moscow since Russia invaded Ukraine. New Delhi has resisted, citing its longstanding ties with Russia and economic needs.

India’s National Security Adviser Ajit Doval is likely to travel to Russia this week on a scheduled visit, two government sources said. Foreign Minister S Jaishankar is expected to visit in the coming weeks.

The sudden rift between India and the US has been deepening since July 31, when Trump announced the 25 per cent tariff on goods being shipped to the US and for the first time threatened unspecified penalties for buying Russian oil.

Trump has said that from Friday he will impose new sanctions on Russia as well as on countries that buy its energy exports, unless Moscow takes steps to end the war with Ukraine.

The trade tensions have caused concern about the potential impact on India’s economy.

The equity benchmark BSE Sensex .BSESN closed down 0.38 per cent, while the rupee dropped 0.17 per cent versus the dollar.

TOURISE unveils global Advisory Board ahead of inaugural Riyadh summit

TOURISE aims to foster cross-sector convergence, creating a space where thought leaders, innovators, and visionaries can collaborate to define the future of the sector

Rajiv Pillai
Rajiv Pillai

05 August, 2025

TOURISE unveils global Advisory Board ahead of inaugural Riyadh summit
Image: Getty Images

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TOURISE, the bold new global tourism platform, has announced the formation of its cross-sector Advisory Board, a 14-member body of renowned industry leaders tasked with shaping the platform’s strategic direction and guiding the agenda of its inaugural global summit, scheduled to take place in Riyadh from 11–13 November 2025.

Positioned as a new global force in tourism, TOURISE aims to foster cross-sector convergence, creating a space where thought leaders, innovators, and visionaries can collaborate to define the future of the sector. The platform’s Advisory Board brings together influential figures from across tourism, technology, aviation, entertainment, education, sustainability, and media, making it one of the most deliberately cross-sector boards in the tourism space today.

Chaired by His Excellency Ahmed Al-Khateeb, Minister of Tourism of Saudi Arabia, the Advisory Board has been created to support TOURISE’s long-term vision and elevate tourism’s position as a driver of innovation, investment, and sustainability on the global stage.

“TOURISE is driving cross-sector global collaboration, and the formation of the Advisory Board ensures we are uniting diverse perspectives from representatives across the global tourism ecosystem,” said His Excellency Ahmed Al-Khateeb. “Their visionary thinking and deep expertise will be essential in transforming TOURISE from ambition into action, ensuring the platform becomes a catalyst of innovation, investment, and sustainability in tourism for decades to come.”

The newly appointed Advisory Board includes:

  • Julia Simpson, president and CEO, World Travel & Tourism Council

  • Randy Durband, CEO, Global Sustainable Tourism Council

  • Luis Maroto, CEO, Amadeus

  • Blake Chandlee, former President of Global Business Solutions, TikTok

  • Neil Jacobs, founder of Wild Origins and former CEO, Six Senses

  • Stephane Lefebvre, president, Cirque du Soleil Entertainment Group

  • Jordi Carnes, president, Leitat Technological Center and CTECNO; former director general, Turisme de Barcelona

  • Mario Enzesberger, founder and CEO, Liberty International Tourism Group

  • Patrick Andersen, CEO, Carlson Wagonlit Travel

  • Mo Gawdat, founder, One Billion Happy

  • Thomas Woldbye, CEO, Heathrow Airport

  • Fahd Hamidaddin, CEO, Saudi Tourism Authority and Vice Chair, TOURISE

  • Fabien Fresnel, CEO, Riyadh School of Tourism and Hospitality

  • Jean-Philippe Cossé, International Events Specialist

Commenting on her appointment, Julia Simpson, president & CEO of WTTC, said: “TOURISE is more than a summit; it’s a catalyst for global transformation in tourism. I joined the Advisory Board because I believe in the power of cross-sector collaboration to drive sustainable growth, foster innovation, and set new standards for responsible travel.”

In the lead-up to the November summit, the Advisory Board will meet regularly to provide strategic input on TOURISE’s programming. Their involvement ensures that the platform reflects diverse global perspectives and tackles the sector’s most pressing challenges. More than a one-time event, TOURISE is being positioned as a lasting global movement to reshape the tourism landscape.

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