Media ININ Economy We Trust
Media IN ABU DHABI, 30th June 2019 (WAM)
According to a study conducted by PwC Middle East, the 10-day event Special Olympics World Games 2019 that was held in the UAE in March,generated AED 957 million in economic output.
The economic output measures the increase in economic output expressed as the value of all sales of goods and services generated by expenditure in a mega event.
In addition to the economic output, the PwC Middle East study revealed that the Gross Value Added generated by the Games was over AED 500 million, with an additional AED 236 million when factoring in-kind contributions through sponsorships and partnerships.
Gross Value Added captures only the value added component of expenditure on the Games.
The report also revealed that nearly 8,000 job years were created in supporting sectors along the supply chain of the Games, in addition to the 279 job years that were created through the Local Organizing Committee during the 2 year period of planning leading up to the Games.
Since it was created in 2017, the Local Organizing Committee employed 304 staff from 47 nationalities to run the Games. The report also revealed that 90% of the total procurement expenditure of the World Games was spent on local suppliers.
In addition to the healthy economic contribution of the Games, the World Games ultimately improved attractiveness for international organizations to seriously consider the UAE as a host for future mega-events.
The World Games attracted over half a million spectators, with more than 18,000 coming from overseas for an average 10-day stay. These visitors had a higher spend profile than local visitors.
His Highness Sheikh Mohamed bin Zayed Al Nahyan, as the patron of the event, strongly believed and drove the vision and noble mission of this event, and what we could achieve as a lasting legacy for People of Determination in the UAE and beyond.
His constant involvement in every critical milestone of these Games allowed us to elevate the conversation around People of Determination and enabled us to deliver the largest and most unified Games in the history of the Special Olympics movement.
