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– 7.4 billion dirhams, the economic value retained in the Dubai economy, representing 57% of the total economic output of major events.
– 63 major events that attracted 1.2 million visitors, 40% of whom came from outside the country.
– More than 48,000 jobs were supported by major events, resulting in a family income of 2.4 billion dirhams.
Dubai, May 30 / The Dubai World Trade Center revealed that the total economic output achieved by the major events in the center, which numbered 63 activities, amounted to about 13 billion dirhams, and the economic value retained within the gross domestic product of the Emirate of Dubai amounted to 7.4 billion dirhams, and the events received The Grand Mosque attracted about 1.2 million visitors, 40% of whom were international visitors.
According to the 2022 Economic Impact Assessment Report issued by the Dubai World Trade Center, the strong performance of events, coupled with an increase in the number of international visitors by 49% year on year, reflects the prominent position of the Emirate of Dubai as a leading global destination for major and mega-events, in line with the Dubai Economic Agenda (D33). The aim is to consolidate the emirate’s position as one of the three best economic cities in the world.
The business tourism sector continues to enhance its contributions at an accelerated pace to the sustainable economic development of the Emirate of Dubai during the past year, driven by the strong performance of the Dubai World Trade Center, which is a major driver of the meetings, incentives, conferences and exhibitions sector in Dubai and the region, as the center organized and hosted major events that achieved great economic returns. and sustainable for the various related economic sectors.
The report indicated that every dirham invested in the activities of the center and related services achieved 7.4 times the value of the Dubai economy, which means that every million dirhams spent directly on the activities of the meetings, incentives, conferences and exhibitions sector achieved 7.4 million dirhams as an economic output that returns to the economy as a whole.
His Excellency Helal Saeed Al Marri, Director General of the Dubai World Trade Center Authority, said: “We are working in accordance with the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, may God bless him, and the Dubai Economic Agenda (D33) launched by His Highness with the aim of doubling Dubai’s GDP over the next decade and consolidate its position as one of the three best cities in the world.”
He added that the meetings, incentives, conferences and exhibitions sector is a fundamental pillar of Dubai’s economy as it is an important engine for the business system in the region, and at the same time reflects the emirate’s efforts to diversify the sources of gross domestic product. The Dubai World Trade Center Economic Impact Assessment Report 2022 confirms the important role that business tourism plays as a major driver of economic growth and sustainable development. Dubai continues to attract companies and talents from around the world.
And he added: “The year 2022 was exceptional for the meetings, incentives, conferences and exhibitions sector, as it demonstrated Dubai’s ability to continue to maintain its rapid growth in this sector, which went through a transformational period that showed recovery in the post-pandemic economy, which confirms our ability to provide sustainable business value in the region.” It is a changing world, and as we approach the second half of 2023, we will continue to work to enhance the record of Dubai World Trade Center in attracting high-level international events, and to make the events sector in Dubai a global platform for talents, knowledge and the economy of the future.”
The report estimates that direct revenues amounted to 7.6 billion dirhams and were achieved through spending in related sectors, which include entertainment, accommodation, restaurants, retail trade, transportation and government services.
The report estimates that the events held at the Dubai World Trade Center during 2022 supported more than 48,000 jobs, an increase of 110% year-on-year, and contributed to household income of 2.4 billion dirhams. In addition to the promising financial implications of these statistics, the main importance of the events lies in supporting the knowledge and skills-based economy, making a positive social and economic impact, as well as creating a digital future without borders.
Following the unparalleled success of Expo 2020 Dubai, which strengthened the emirate’s position as a major destination for the global business community, the Dubai World Trade Center continues its leading role in consolidating Dubai’s position as a global business center, as international visitors accounted for 40% of the total visitors to major events in the center in 2022, with an increase 49% year on year.
The importance of international visitors lies in their direct impact on Dubai’s GDP, as spending per international visitor per event amounted to 9,921 dirhams, which is 6 times more than the value of spending by local visitors.
The highest spending value for international visitors is associated with travel, accommodation and retail shopping expenses, along with extended stay (for leisure) and accompanying international visitors.
The strong performance of the Dubai World Trade Center in the events sector during 2022 confirms the significant economic acceleration and the important role the center plays in strengthening the supply chain system within the events and travel-related sectors.
The number of major events (attracting more than 2,000 participants) grew by 26% year on year, while the total direct economic output in various business services and sectors related to the meetings, incentives, conferences and exhibitions sector doubled and achieved a growth of 108% year on year (9.4 billion). dirhams).
This growth contributes to strengthening the leadership of the Dubai World Trade Center and its vital role in setting high-level standards for the events sector at the global level, in addition to being an important engine for achieving revenues that benefit the GDP of Dubai.
The Dubai World Trade Center has a busy and diverse agenda that includes major events, exhibitions and conferences covering the main sectors important to Dr.’s agenda
