Dubai World Trade Centre (DWTC) has continued its trajectory of driving substantial impact for Dubai’s economy. Against the backdrop of the ambitious Dubai Economic Agenda D33 – aiming to secure the city’s status as one of the top three global destinations for business and travel by 2033, DWTC’s international leadership in the Meetings, Incentives, Conferences, and Exhibitions (MICE) sector continues to play a pivotal role in reinforcing Dubai’s position as a powerhouse of economic activity and innovation.
DWTC’s 2023 Economic Impact Assessment (EIA) Annual Report underscores the company’s sustained contribution to the city’s GDP, especially highlighting the remarkable surge in Total Economic Output of AED 18.28Bn from 76 large-scale Exhibitions, International Association Conventions, and Industry Conferences (of the total 301 exhibitions and events in 2023). Notably, the Gross Value Added (GVA) to Dubai’s GDP by these large-scale events amounted to AED 10.53Bn, representing 58% of the total economic output being retained within the local economy, fostering 69,281 jobs and generating AED 3.36Bn in disposable income.
The 76 large-scale business events hosted, organised and delivered by DWTC attracted 1.54 million attendees, with 46% being international attendees. In absolute terms, this reflects a remarkable 53% year-on-year increase in foreign attendance, further cementing Dubai’s growing dominance and heightened relevance in the increasingly borderless world of business. Beyond the impressive domestic economic implications of these statistics, activities at DWTC not only provided a platform for businesses and individuals to connect, collaborate, and innovate, but also facilitated wider trade and business output for the global business community.
His Excellency Helal Saeed Almarri, Director General, DWTC Authority, said: “Guided by the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, Dubai World Trade Centre stands as a symbol of innovation and economic advancement. Aligned with Dubai’s Economic Agenda D33, we continue to spearhead sector diversification efforts, reinforcing the city’s stature as a leading global business hub”.
“The remarkable accomplishments of 2023, presented in the ‘DWTC Economic Impact Report’ demonstrate that Dubai’s MICE sector, driven by DWTC, remains a vital pillar of financial resilience and growth underscoring our accelerated strides towards sustainable socio-economic development. The increase in international participation, along with the significant economic impact generated across diverse sectors such as travel, accommodation and retail, highlights the city’s steadfast commitment to propelling business tourism.”
Sector diversity was evident in the top-performing events hosted at DWTC, with a robust portfolio featuring innovative large-scale exhibitions, conventions, and conferences aligned with Dubai economic agenda’s key priority verticals. ‘Healthcare, Medical, and Scientific’, ‘Information Communications Technology (ICT)’, and ‘Food, Hotel, and Catering’ stood out as the top three sectors, collectively accounting for 59% (AED 6.27Bn) of the GVA to Dubai’s economy. These three sectors combined attracted 49% (747,468) of total event attendees and 60% (430,122) of all international visitors, underscoring their significance. In 2023, the ICT events welcomed 259,837 visitors and generated a GVA of AED 2.22Bn, while Healthcare, Medical, and Scientific events attracted 261,348 attendees, contributing to a combined GVA of AED 2.17Bn whereas the Food, Hotel and Catering events attracted 226,283 attendees and generated a GVA of AED 1.87Bn.
“Moving forward, DWTC remains dedicated to shaping the future of Dubai’s business tourism and trade. We are unwavering in our commitment in ensuring Dubai remains a front-runner in the global events and exhibitions landscape, fostering new avenues for collaboration, knowledge sharing, and sustainable development,” concluded His Excellency Almarri.
