Dubai World Trade Center Events Stimulate Dubai Economy in 2022; Generate $3.55 billion in gross incremental economic output

DubaiUAE, May 30, 2023 /PRNewswire/ — A key driver of MICE sector growth and the largest operator in the wider MENASA region, Dubai World Trade Center (DWTC) event calendar has been an economic catalyst for the emirate – generating sustainable high incomes for nearby industries linked to the MICE ecosystem. The 63 large-scale events held at DWTC welcomed nearly 1.2MM attendees, 40% of which were international – a 49% YOY increase in foreign participation, emphasizes. of Dubai Leadership as a global mega event hub.

Dubai Continuing to attract businesses and talent from around the world, DWTC provides an effective connectivity platform to collaborate, accelerate innovation and showcase next-generation products and services to far-flung markets. „This lasting impact of individual events is a clear indicator of the MICE industry’s role in supporting economic growth and achieving a return on investment for all stakeholders.” He Helal Saeed Almari Director General of DWTC Authority.

According to DWTC’s 2022 Economic Impact Assessment report, released today, DWTC’s 63 large-scale events (> 2,000 attendees) have grown 26% YOY. Total direct economic output in MICE business services and surrounding sectors more than doubled (108%) $2.55 billion. This further strengthens DWTC’s global leadership as a sustainable driver of revenue growth that benefits other key sectors of the economy.

DWTC events supported more than 48,000 jobs, representing a 110% YOY increase, resulting in increased disposable household income. $651 million.

DWTC’s robust portfolio of events spans key priority verticals of Dubai a health, medicine and science-based economic agenda; Information Technology (IT); And food, hotel and catering emerge as the top three sectors. They are 57% ($1.16 billion) to Gross Value Added (GVA). of Dubai economy. Combined attendance accounted for 46% (535,000) of total large-scale event attendance.

Annual events, including GITEX GLOBAL And Gulffootwas created $3.55 billion In economic production, in which $2.03 billion retained within of Dubai GDP.

“2022 is a milestone year for global MICE of Dubai The industry’s ability to sustain its momentum of growth through a transformative period characterized by post-pandemic resurgence is a testament to our ability to deliver sustainable value to business participants. Hon Almari concluded.

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Source Dubai World Trade Center

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