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Dubai World Trade Center events will boost Dubai’s economy in 2022. Total economic output generates $3.55 billion
DUBAI, United Arab Emirates , May 30, 2023 /PRNewswire/ — A key driver of growth in the MICE sector and the largest operator in the entire MENASA region, the Dubai World Trade Center (DWTC) calendar of events continues to be an economic catalyst. The emirate generates high and stable income for nearby industries linked to the MICE ecosystem. The 63 large-scale events hosted at DWTC welcomed nearly 1.2 million attendees, 40% of whom were international – an impressive 49% increase in overseas participation year-on-year, highlighting Dubai’s leadership as a global hub for mega-events.
“As Dubai attracts companies and talent from around the world, DWTC provides an effective connectivity platform to collaborate, accelerate innovation and showcase next-generation products and services in 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.” ,” said Helal Saeed Almari, CEO of DWTC Authority.
According to DWTC’s 2022 Economic Impact Assessment report, released today, DWTC’s 63 large-scale events (> 2,000 attendees) grew 26% year-over-year. Total direct economic output in MICE business services and related sectors more than doubled year-on-year (108%) to reach $2.55 billion. This further strengthens DWTC’s global leadership as a sustainable driver of revenue that benefits other key sectors of the economy.
DWTC events supported more than 48,000 jobs, representing a 110% year-over-year increase, resulting in an increase of $651 million in disposable household income.
DWTC’s robust portfolio of events spans key priority verticals for Dubai’s economic agenda with health, medicine and science; Information Technology (IT); and food, hotel and catering, emerge as the top three sectors. It accounts for 57% ($1.16 billion) of Dubai’s gross economic value (GVA). Combined attendance was 46% (535,000) of total attendance for large-scale events.
Annual events including GITEX Global and Gulfood generated $3.55 billion in economic results, of which $2.03 billion was retained in Dubai’s GDP.
“2022 is an important year for global MICE, and Dubai’s ability to continue to maintain its pace of growth in this transformative sector showing a post-pandemic resurgence is a testament to our ability to deliver. business value. attendees,” concluded Honorable Almari.
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