How large-scale global events powered DWTC's record economic performance

Al Etihad

11-05-2025

11 May 2025 20:07
MAYS IBRAHIM (ABU DHABI)Behind the Dubai World Trade Centre's (DWTC) record economic performance in 2024 was a surge in large-scale international events, with the hub hosting 100 such events and drawing more than two million attendees, a senior official of the centre told Aletihad. International participation remained a key growth driver as the 2024 figures jumped 32% from the numbers in 2023, Mahir Julfar, Executive Vice President at DWTC, said in a recent interview.The DWTC delivered its strongest economic performance to date in 2024, generating Dh22.35 billion in total economic output, according to its latest Economic Impact Assessment report.These numbers are fully aligned with the Dubai Economic Agenda D33, which aims to position the emirate among the world's top three cities for business and tourism by 2033."We have sharpened our strategic focus to scale impact and enhance global competitiveness," Julfar said.The report found that overseas visitors totalled 936,083, representing 46% of all attendees."This segment had a significant impact, with each international delegate spending nearly six times more per event than local participants – Dh9,833 versus Dh1,673 per event – significantly boosting local businesses."The report also highlighted the cascading economic impact of DWTC events across multiple sectors. Business entertainment spending rose 36%, retail by 34%, and food and beverage by 30%."In total, every Dh1 spent at an event held at DWTC generated Dh7.70 in wider citywide economic output," Julfar said.
High-Growth Sectors The healthcare, food and hospitality, and information technology sectors collectively contributed 58% of the total Gross Value Added to Dubai's economy from events held at DWTC, according to Julfar.He noted that the healthcare and MedTech alone generated Dh3.68 billion in GVA from 21 events and 460,858 attendees, 71% of whom were international visitors.Food and hospitality followed with Dh2.35 billion in economic value from nine events and 55% overseas participation.Information technology contributed Dh1.55 billion in GVA from five events, attracting attendees with the longest average stay of 6.12 days, highlighting Dubai's growing status as a tech innovation hub.Julfar noted that the exhibition format continues to demonstrate the highest economic impact, with 72 exhibitions contributing 89% of the total GVA."Mega-events with over 30,000 attendees were particularly impactful, with just 15 such events responsible for 66% of the Gross Value Added.""These patterns indicate that the future of Dubai's MICE industry lies in developing domain specialisation in high-growth sectors while concentrating resources on large-scale international exhibitions," he said.
Collaborative Growth Model Julfar stressed that DWTC operates within an integrated ecosystem that brings together government entities and private sector partners to maximise economic impact across multiple dimensions.These include the Dubai Festivals and Retail Establishment, the Department of Economy and Tourism, the Roads and Transport Authority, and the Dubai Police."This includes implementing comprehensive operational and security measures to ensure a smooth and secure citywide experience for exhibitors and visitors during large-scale events," Julfar said."This collaborative model not only ensures operational excellence but also drives meaningful cross-sector impact."The report demonstrates how adjacent industries have benefitted from this approach with significant growth recorded in hotel accommodation (Dh3.41 billion, up 15%), retail trade (Dh2.64 billion, up 34%), restaurants and F&B (Dh2.23 billion, up 30%), and transport (Dh2.86 billion, up 8%)."DWTC's impact lies not just in hosting events, but in creating platforms that connect global businesses, drive trade, and foster innovation, all while reinforcing Dubai's position as a resilient, future-ready economy built on partnership and collaboration," Julfar said.
Vision 2033: Dh54 Billion Target Looking ahead, DWTC aims to nearly triple its economic contribution to Dh54 billion annually by 2033, up from Dh18 billion in 2023."Central to this evolution is our Dh10 billion expansion of the Dubai Exhibition Centre (DEC), designed to double our venue capacity and host larger, more complex international events. The expanded infrastructure will allow us to support the growing scale and sophistication of mega-events, while accommodating new demand from emerging markets," Julfar said.DWTC also plans to deepen its international outreach to high-growth markets beyond the MENA region, such as Asia-Pacific, Central Asia, and the Indian subcontinent.
"Backed by strong infrastructure, data-led decision-making, and a commitment to innovation, we will continue to enhance our venue capabilities, strengthen international partnerships, and align with Dubai's Economic Agenda, positioning DWTC at the heart of Dubai's ambition to become a leading global destination for business, innovation, and economic opportunity," Julfar added.