Dubai World Trade Center is the sole hub for a variety of exhibitions and events in Dubai. These range from lifestyle, education, sports, entertainment and finance along with trade shows.
With the help of these sectors, Dubai World Trade Centre totaled a record of AED12.7bn ($3.4 billion) in retained value towards Dubai’s economy. This made up 3.3 % of the Emirate’s GDP in the year 2017.
The Most Contributing Sector
The total economic output of DWTC’s extensive events were AED 22.5bn ($6bn), of which 57% is retained within the local economy. The report also revealed an 8% increase since 2015. This reaffirmed the importance and value of large-scale events in the MICE (Meetings, Incentives, Conference and Exhibitions) sector.
Primarily, sales in MICE sector grew 4.3 times it’s value in overall non-trade business activities across Dubai’s economy. Additionally, the multi-sector reckons to have supported a total of 84,226 jobs as a result of DWTC, hosted and managed events. This generated disposable household income of AED4.1bn ($1.1bn). MICE and adjacent sectors have also contributed to 71% of jobs created. While only 29% were the outcome of indirect and induced employment.
DWTC Large Scale Events
In the year 2017, DWTC hosted about 103 wide-ranging events and attracted 2.63 million attendees. About 1.1 million of theses attendees were overseas visitors. Furthermore, the complex opened 3 new halls in the last quarter of 2015 to meet the increasing demand and number of exhibitors.
Large-scale events mostly host more than 2,000 attendees, and form the focus of the report. They also highlight the importance of sustainable scalability through their ability to attract a diverse audience which are significant in strengthening the economic growth and value.