Dubai World Trade Centre Sparks US$4.98 Billion Economic Output in 2023

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The Dubai World Trade Centre (DWTC), a global leader in the events and exhibitions industry, has once again demonstrated its significant impact on Dubai’s economy in 2023, welcoming 2.47 million participants and hosting 301 events, 76 of which were large-scale events that drew 1.54 million attendees, with 46% coming from abroad.

Based on DWTC’s 76 large-scale events (2000 or more attendees), the 2023 Economic Impact Assessment (EIA) Report revealed an impressive surge in total economic output, reaching US$4.98 billion, representing a 40% YoY increase, with high returns for adjacent industries such as Travel, Accommodation, and Retail, all of which are linked to the Meetings Incentives Conferences and Exhibitions (MICE) ecosystem. The DWTC’s large-scale events contributed US$2.87 billion in Gross Value Added (GVA) to Dubai’s GDP, accounting for an outstanding 58% of overall economic activity locally. International participation increased by 53%, with abroad tourists contributing 6.2 times more than domestic peers.

Events held at the DWTC supported 69,281 employment, providing US$915 million in disposable family income for city inhabitants. These events have a significant economic impact beyond direct revenue generation, as they promote socioeconomic growth and contribute to Dubai’s standing as a major worldwide corporate hub.

His Excellency Helal Saeed Almarri, Director General of the DWTC Authority, stated: “Aligned with Dubai’s Economic Agenda D33, we continue to spearhead efforts in sector diversification, reinforcing the city’s stature as a leading global business hub. The remarkable accomplishments of 2023, presented in the ‘DWTC Economic Impact Assessment 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.”

The venue’s impressive events portfolio is strategically aligned with Dubai’s economic priorities, with Healthcare, Medical, and Scientific; Information Technology (IT); and Food, Hotel, and Catering being the leading contributors. These major sectors accounted for 59% (US$1.71 billion) of Dubai’s GVA and 49% (747,468) of total large-scale event visitation.

Adjacent sectors such as hotels, air travel, and local transportation saw a large increase in economic activity. Direct revenue from expenditure was roughly $2.94 billion.

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