Dubai International Business Centre (DWTC), the worldwide occasions and exhibitions trade chief and industry enabler, has endured its trajectory of riding really extensive have an effect on for Dubai’s economic system. Towards the backdrop of the progressive Dubai Financial Schedule D33 – aiming to hold the town’s condition as one of the most supremacy 3 world locations for industry and move via 2033, DWTC’s world management within the Conferences, Incentives, Meetings, and Exhibitions (MICE) sector continues to play games a pivotal position in reinforcing Dubai’s place as a powerhouse of financial process and innovation.
DWTC’s 2023 Financial Affect Evaluation (EIA) Annual File underscores the corporate’s sustained contribution to the town’s GDP, particularly highlighting the impressive surge in Overall Financial Output of AED 18.28Bn from 76 large-scale Exhibitions, World Affiliation Conventions, and Business Meetings (of the whole 301 exhibitions and occasions in 2023). Particularly, the Improper Worth Added (GVA) to Dubai’s GDP via those large-scale occasions amounted to AED 10.53Bn, representing 58% of the whole financial output being retained throughout the native economic system, fostering 69,281 jobs and producing AED 3.36Bn in one-use source of revenue.
The 76 large-scale industry occasions hosted, organised and delivered via DWTC attracted 1.54 million attendees, with 46% being world attendees. In absolute phrases, this displays a impressive 53% year-on-year build up in overseas attendance, additional cementing Dubai’s rising dominance and heightened relevance within the increasingly more without boundary lines global of commercial. Past the noteceable home financial implications of those statistics, actions at DWTC no longer best equipped a platform for companies and folks to tied, collaborate, and innovate, but in addition facilitated wider industry and industry output for the worldwide industry crowd.
His Excellency Helal Saeed Almarri, Director Basic, DWTC Authority, mentioned: “Guided by the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, Dubai World Trade Centre stands as a symbol of innovation and economic advancement. Aligned with Dubai’s Economic Agenda D33, we continue to spearhead sector diversification efforts, reinforcing the city’s stature as a leading global business hub”.
“The impressive accomplishments of 2023, introduced within the ‘DWTC Economic Impact Report’ exhibit that Dubai’s MICE sector, pushed via DWTC, extra an important pillar of economic resilience and expansion underscoring our speeded up strides against sustainable socio-economic building. The rise in world participation, at the side of the numerous financial have an effect on generated throughout various sectors corresponding to move, lodging and retail, highlights the town’s steadfast loyalty to propelling industry tourism.”
Adjacent sectors drive increased GDP impact2023’s unprecedented results, 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 AED 10.81Bn. The key sectors in the domestic economy that benefited were Hotel Accommodation (AED 2.96Bn, 54% YOY growth), Air Travel and Local Transport (AED 2.64Bn, 20% YOY growth), Retail (AED 1.97Bn, 71% YOY growth), Restaurants (AED 1.71Bn, 51% YOY growth), and Business Entertainment (AED 1.31Bn, 27% YOY growth).
According to the Economic Impact Report, the large-scale events at DWTC supported a total of 69,281 jobs and generated an aggregate AED 3.36 billion in disposable household income, demonstrating the significant impact of high value- adding sectors, like Dubai’s MICE industry, to the local economy.
Rise in international participation at DWTC events 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. International participants deliver a higher ‘tourism’ related direct economic impact, linked to their increased daily spends with local businesses, longer stays in hotels, and by travelling with colleagues or family members (companions). The notable 53% YOY increase in international participants yielded significant contribution to Dubai’s GDP, with an average participant spend of AED 10,313 per event, which is 6.2 times higher than that of local participants. This reflects the value beyond the MICE sector, as DWTC’s performance in 2023 directly contributed to increased economic activity across Air Travel and Local Transport; Hotel Accommodation; Retail; Restaurants and Business Entertainment.
DWTC’s large-scale events boost economic impact76 large-scale events (2,000 or more attendees), generated sales of approximately AED 2.33Bn within the MICE sector, resulting in nearly 8 times that value in economic output. This means that for every dirham invested by an organiser or attendee at a DWTC event, it generates eight times in sales value for the broader Dubai economy. The success of DWTC’s own events and exhibitions such as GITEX Global and Gulfood, which generated AED 7.22Bn in economic output and AED 4.15Bn in GVA – a 53% increase over 2022 – reflects DWTC’s unparalleled expertise in delivering world-class events that resonate with global audiences.
Top performing events highlight Dubai’s sector diversitySector 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 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% (AED 6.27Bn) of the GVA to Dubai’s economy. These three sectors combined attracted 49% (747,468) of total event attendees and 60% (430,122) of all international visitors, underscoring their significance. In 2023, the ICT events welcomed 259,837 visitors and generated a GVA of AED 2.22Bn, while Healthcare, Medical, and Scientific events attracted 261,348 attendees, contributing to a combined GVA of AED 2.17Bn whereas the Food, Hotel and Catering events attracted 226,283 attendees and generated a GVA of AED 1.87Bn.
“Shifting ahead, DWTC extra devoted to shaping the era of Dubai’s industry tourism and industry. We’re i’m sure in our loyalty in making sure Dubai extra a front-runner within the world occasions and exhibitions soil, fostering fresh avenues for collaboration, wisdom sharing, and sustainable building,” concluded His Excellency Almarri.
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