Dubai World Trade Centre (DWTC) earns total economic output of AED 18.3bn

Wednesday, May 22, 2024

Dubai World Trade Centre (DWTC), a leader in the global events and exhibitions industry, has significantly impacted Dubai’s economy with a total economic output of AED 18.3 billion from its 2023 large-scale events. Notably, AED 10.5 billion of this was retained as Gross Value Added (GVA) to Dubai’s GDP.

The DWTC’s 2023 Economic Impact Assessment (EIA) Annual Report highlighted that the 76 large-scale events held at the venue, including exhibitions, international conventions, and industry conferences, played a crucial role in this achievement. These events alone generated 58% of the total economic output, fostering 69,281 jobs and creating AED 3.36 billion in disposable income.

These large-scale events attracted 1.54 million attendees, with 46% being international visitors. This marked a 53% year-on-year increase in foreign attendance, reinforcing Dubai’s growing prominence in the global business landscape. The increase in international participation not only boosted direct economic impact but also fostered wider trade and business output for the global business community.

His Excellency Helal Saeed Almarri, Director General of the DWTC Authority, emphasized the role of DWTC in supporting Dubai’s Economic Agenda D33, aiming to position Dubai among the top three global destinations for business and travel by 2033. He highlighted the significant economic contributions of DWTC’s MICE sector, which is essential for sustainable socio-economic development.

In 2023, adjacent sectors also saw significant growth due to increased spending from international visitors. Key sectors such as hotel accommodation, air travel, local transport, retail, restaurants, and business entertainment experienced substantial year-on-year growth, generating over AED 10.81 billion in direct revenue.

The report also underscored the success of major events like GITEX Global and Gulfood, which alone generated AED 7.22 billion in economic output. Sector diversity was prominent, with healthcare, ICT, and food services leading the contributions to Dubai’s GDP.

Looking ahead, the DWTC remains committed to advancing Dubai’s business tourism and trade, ensuring the city retains its status as a leading global events and exhibitions hub, fostering collaboration, innovation, and sustainable development.

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