The Dubai World Trade Centre (DWTC) has continued to play a pivotal role in reinforcing the city’s position as a powerhouse of economic activity and innovation. The DWTC’s 2023 Economic Impact Assessment (EIA) Annual Report underscores the company’s sustained contribution to Dubai’s GDP, highlighting the remarkable surge in Total Economic Output of AED18.28 billion ($4.97 billion) from 76 large-scale exhibitions, international association conventions, and industry conferences. This represents a 40 percent year-on-year (YoY) increase, according to DWTC.
Strong growth in large-scale events
The 76 large-scale business events hosted, organized, and delivered by DWTC attracted 1.54 million attendees, with 46 percent being international attendees. This reflects a remarkable 53 percent YoY increase in foreign attendance, further cementing Dubai’s growing dominance and heightened relevance in the increasingly borderless world of business.
Remarkable economic implications
The Gross Value Added (GVA) to Dubai’s GDP by these large-scale events amounted to AED10.53 billion, representing 58 percent of the total economic output being retained within the local economy. Additionally, these events created 69,281 jobs and generated AED3.36 billion ($914.79 million) in disposable income.
Read more: Dubai named number one global meetings destination
Impact on adjacent sectors
The unprecedented results in 2023, attributed to the increased number of large-scale events and international business visitors, resulted in remarkable growth and higher spending across MICE business services and adjacent industry sectors. Direct revenue generated through expenditure in adjacent sectors reached over AED10.81 billion, with significant growth in sectors such as Hotel Accommodation, Air Travel and Local Transport, Retail, Restaurants, and Business Entertainment.
Rise in international participation
Dubai’s status as a premier international MICE destination, coupled with DWTC’s robust events calendar, has been instrumental in drawing the global business community in record numbers to the city. The notable 53 percent YoY increase in international participants yielded significant contribution to Dubai’s GDP, with an average participant spend of AED10,313 per event, which is 6.2 times higher than that of local participants.
DWTC’s large-scale events boost economic impact
The 76 large-scale events (2,000 or more attendees) generated sales of approximately AED2.33 billion within the MICE sector, resulting in nearly 8 times that value in economic output. The success of DWTC’s own events and exhibitions, such as GITEX Global and Gulfood, which generated AED7.22 billion in economic output and AED4.15 billion in GVA, reflects DWTC’s unparalleled expertise in delivering world-class events that resonate with global audiences.
Top performing events and sector diversity
Sector diversity was evident in the top-performing events hosted at DWTC, with a robust portfolio featuring innovative large-scale exhibitions, conventions, and conferences aligned with Dubai’s economic agenda’s key priority verticals. ‘Healthcare, Medical, and Scientific’, ‘Information Communications Technology (ICT)’, and ‘Food, Hotel, and Catering’ stood out as the top three sectors, collectively accounting for 59 percent (AED6.27 billion) of the GVA to Dubai’s economy.
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