DWTC delivers Dh22.35 billion in economic output in 2024, driven by record increase in large scale events

Al Etihad

27-04-2025

27 Apr 2025 15:57
DUBAI (WAM) The Dubai World Trade Centre (DWTC) continues to reinforce its role as a vital pillar of Dubai's economy, contributing significantly to the emirate's GDP through a dynamic calendar of world-class business events.As the emirate advances towards the ambitious goals of the Dubai Economic Agenda D33 – to rank among the world's top three cities for business and leisure by 2033 – DWTC remains a powerful catalyst, driving economic growth and strengthening the city's global position in the Meetings, Incentives, Conferences, and Exhibitions (MICE) sector.DWTC's 2024 Economic Impact Assessment (EIA) underscores its substantial contribution to Dubai's economy, led by 100 large-scale exhibitions, international association conventions, and industry conferences – a 32% increase year-on-year. These events drew over two million attendees and generated a total economic output of Dh22.35 billion. Of this, Dh13.04 billion was retained as Gross Value Added (GVA) to Dubai's GDP, reinforcing the significant value retained within the local economy.His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Deputy Prime Minister, Minister of Defence and Chairman of The Executive Council of Dubai, said, "Dubai's continued growth as a leading global destination for major international events reflects the power of the leadership's long-term vision and the city's ability to constantly create new growth pathways. The record performance of DWTC in 2024 reaffirms Dubai's ability to bring together the world's brightest minds, pioneering companies, and transformative ideas with the potential to shape the future. This success is driven by sustained investment in future-ready infrastructure, global connectivity, and a business-friendly environment that bridges markets and fosters partnerships.""The MICE sector plays a vital role in strengthening Dubai's profile as a leading global hub, as envisioned in the Dubai Economic Agenda D33. We continue to strengthen this sector as a key pillar of an increasingly diversified and innovation-led economy. Dubai will remain a global hub for ideas, investment, and enterprise – a city that turns opportunity into growth and enduring value."Director-General, DWTC Authority, Helal Saeed Almarri, said, "The results we are seeing today are a clear reflection of the long-term vision set forth by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister, and Ruler of Dubai, to position Dubai as a leading global business and innovation capital. DWTC continues to play a pivotal role in advancing this vision, serving as a key enabler of economic growth and diversification.""In alignment with the Dubai Economic Agenda D33, every initiative at DWTC is focused on accelerating the growth of a future-ready economy — one that attracts global talent, empowers enterprise, and enables meaningful international collaboration. The growth in large-scale events and international attendance in 2024 is a clear validation of our strategic investments in hosting capacity and infrastructure, with the first phase of the Dubai Exhibition Centre's expansion on schedule for completion in 2026. With this enhanced world-class venue, we are not only increasing our ability to host high-impact global events but also deepening DWTC's role as a driver of economic opportunity, innovation, and sustainable growth."The study, designed to provide data-backed intelligence on the impact of Dubai's MICE sector on the city's economy, analyses the performance of large-scale events, which are defined as those that host over 2,000 participants, and their contribution to the city's economy, its growth and development. It assesses four key metrics: total spend at MICE events; other 'direct' spends in related sectors such as hotels and restaurants, retail and recreation, air and ground transport, government, and business services; 'indirect' spends related to necessary production increases to meet increased demand; and the 'induced' impact driven by increase in household income of the local population.DWTC achieved record-breaking growth in 2024 across its calendar of large-scale events, with a 32% year-on-year increase, not only in the number of events but also in the size and scale of existing mega events.Of the over two million attendees at these flagship events, 936,083 travelled from overseas – a testament to Dubai's rising prominence as a top global destination for business tourism.This surge in large-scale events is estimated to have supported 85,533 jobs across the MICE ecosystem and its adjacent sectors, while the rise in international participation played a pivotal role in delivering broader socio-economic impact, significantly amplifying the total economic output generated.In 2024, the 100 large-scale events hosted at DWTC generated an estimated Dh2.9 billion in sales value within the MICE sector — a clear indicator of the strength of Dubai's event-driven economy. This value was primarily driven by event organisers and exhibitors' investment in venue space, stand services, logistics, and other business support services. Notably, this direct expenditure catalysed nearly eight times its value in broader non-trade business activity across Dubai's economy, meaning that for every Dh1 spent at a DWTC event, Dh7.7 in economic output was generated citywide.This powerful multiplier effect underscores the sustained value created by DWTC's event ecosystem. It illustrates how the impact of events extends well beyond the venue itself, stimulating growth across allied sectors, supporting job creation, and strengthening Dubai's position as a global destination for business, innovation, and sustainable economic development.The growth of DWTC's large-scale events and the surge in international attendance translated directly into increased spending across both MICE-related business services and adjacent sectors. In 2024, direct spending in these adjacent sectors soared to Dh13.17 billion, reflecting widespread economic gains.Sectors that saw marked increases include:• Business Entertainment: Dh1.78 billion (up 36%)• Retail Trade: Dh2.64 billion (up 34%)• Restaurants and F&B: Dh2.23 billion (up 30%)• Hotel Accommodation: Dh3.41 billion (up 15%)• Air Travel and Local Transport: Dh2.86 billion (up 8%)These results reinforce DWTC's role as a key economic engine, stimulating activity across vital sectors such as travel, hospitality, retail, and entertainment. The ripple effect of DWTC's events significantly magnifies the overall value delivered to Dubai's economy, not just through direct MICE transactions, but by driving incremental economic value to these supporting industries.International attendees contributed significantly more to the economy than domestic participants, spending an average of Dh9,833 per event—almost six times the Dh1,673 spent by local attendees. Their expenditure on travel, extended stays, hospitality, retail, and F&B, and travel with business colleagues or family members, generates a greater economic impact for the city.In 2024, the MENA region led international business event visitation, accounting for 32% of attendees, followed by Europe (27%), Asia Pacific (10%), East Europe and Central Asia (10%), the Indian subcontinent (10%), Africa (6%), the Americas (5%), and Oceania (1%). The top 10 source markets – Saudi Arabia, India, China, Turkey, Oman, the United Kingdom, Egypt, Iran, Russia, and Germany – highlight the city's strategic position as a leading global business destination bridging East and West.The breadth of sectors represented across DWTC's events calendar reflects Dubai's strategic focus on fostering growth in high-impact industries. In line with the emirate's economic priorities, DWTC continues to serve as a powerful platform for exhibitions, conventions, and conferences that support key sectors driving innovation and diversification.In 2024, the three leading industries – Healthcare, Medical, and Scientific; Food, Hotel, and Catering; and Information Technology – accounted for 58% (Dh7.59 billion) of the total Gross Value Added (GVA) to Dubai's economy.These sectors collectively attracted 51% (1.02 million) of all event attendees and 61% (569,216) of international visitors, reinforcing their pivotal role in shaping Dubai's MICE and economic landscapes.The Healthcare, Medical, and Scientific sector led the way with 21 events and 460,858 attendees, generating Dh3.68 billion in GVA.Food, Hotel, and Catering followed with nine events and 283,119 participants, contributing Dh2.35 billion, while Information Technology hosted five events, welcomed 280,967 attendees, and delivered Dh1.55 billion in economic value.
Almarri concluded, "Looking ahead, DWTC remains committed to redefining the global MICE landscape, leveraging innovation, strategic partnerships and Dubai's unique geographic positioning to unlock new opportunities for economic impact. The progress achieved in 2024 sets a strong precedent for future growth, as we continue to build dynamic, world-class platforms for international business engagement that reinforce Dubai's rise as one of the world's top three destinations for business and tourism."