Latest news with #AED22.35
Hi Dubai
05-05-2025
- Business
- Hi Dubai
UAE Exhibitions Sector Drives Record Economic Impact and Global Recognition
The UAE's exhibitions and conferences sector surged in 2024, generating billions in economic output and cementing its status as a global hub for business tourism and mega-events. Backed by world-class infrastructure and a strategic national vision, the industry is now a key driver of the country's diversified, knowledge-based economy. Leading the charge, the ADNEC Group contributed AED8.5 billion to the UAE's GDP in 2024, up from AED7.4 billion in 2023. Its venues, including Abu Dhabi National Exhibition Centre and Excel London, hosted over 1,000 events and welcomed a record-breaking 5.4 million visitors. ADNEC's Capital Events arm generated AED10 billion in business deals, while Capital Hospitality served over 40 million meals and managed 2,200 events. The Dubai World Trade Centre also recorded a banner year, hosting 100 major events—a 32% annual increase—that brought in more than 2 million attendees. The total economic output reached AED22.35 billion, with AED13.04 billion contributing directly to Dubai's GDP. International attendance soared, with 936,000 global visitors reinforcing Dubai's position as a premier destination for business events. Sharjah's Expo Centre added to the momentum, organising 80 major exhibitions—a 60% rise from the previous year—across its venues in Sharjah, Khor Fakkan, and Al Dhaid. These drew nearly 3 million visitors and spotlighted sectors including smart transport, healthcare, and trade. As Dubai rolls out the first phase of DWTC's expansion, due in 2026, and with a packed calendar of specialised events across the Emirates, the UAE's exhibitions industry continues to grow in scale and influence—advancing its role in shaping the region's economic future. News Source: Emirates News Agency
Hi Dubai
28-04-2025
- Business
- Hi Dubai
DWTC Drives Dubai's Economic Growth with Record-Breaking Events in 2024
The Dubai World Trade Centre (DWTC) played a pivotal role in boosting Dubai's economy in 2024, contributing AED22.35 billion to the emirate's GDP through a dynamic slate of business events. With over 100 large-scale exhibitions, conventions, and conferences, DWTC not only exceeded its performance from the previous year but also solidified Dubai's standing as a leading global destination for business tourism. The 2024 Economic Impact Assessment revealed a 32% increase in the number of events hosted at DWTC, drawing over 2 million attendees. Of these, nearly 1 million were international visitors, highlighting Dubai's rising global prominence. The economic output generated by these events was substantial, with AED13.04 billion retained as Gross Value Added (GVA) to Dubai's GDP. DWTC's growth aligns with the Dubai Economic Agenda D33, which aims to position the city among the world's top three destinations for business and leisure by 2033. The success of DWTC's large-scale events was underscored by a strong multiplier effect, with every AED1 spent at an event generating AED7.7 in broader economic output across sectors such as hospitality, transport, and retail. Key sectors such as Healthcare, Food and Hospitality, and Information Technology drove much of this growth, attracting significant international participation. The MENA region was the leading source of international attendees, further bolstering Dubai's role as a business bridge between East and West. With its continued investments in infrastructure, including the expansion of the Dubai Exhibition Centre, DWTC is poised to maintain its status as a major economic engine and a critical driver of Dubai's future growth. News Source: Emirates News Agency
Arabian Business
27-04-2025
- Business
- Arabian Business
Dubai World Trade Centre generates $3.5bn economic output in 2024
Dubai World Trade Centre (DWTC) has strengthened its position as a key contributor to Dubai's economy, adding AED13.04 billion in Gross Value Added (GVA) to the emirate's GDP through its business events in 2024. The centre hosted 100 large-scale exhibitions, international association conventions, and industry conferences – representing a 32 per cent increase year-on-year. These events attracted over 2 million attendees and generated a total economic output of AED22.35 billion, the Emirates News Agency (WAM) said in a statement. DWTC contributes $3.5bn to Dubai's GDP in 2024 '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,' 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. The Economic Impact Assessment (EIA) for 2024 revealed that for every AED1 spent at a DWTC event, AED7.7 in economic output was generated citywide, demonstrating the multiplier effect of the events ecosystem. Of the 2 million attendees at these flagship events, 936,083 travelled from overseas, highlighting Dubai's growing prominence as a destination for business tourism. The events supported 85,533 jobs across the MICE ecosystem and adjacent sectors. International visitors drive economic growth at Dubai World Trade Centre '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,' Helal Saeed Almarri, Director-General, DWTC Authority said. International attendees contributed significantly more to the economy than domestic participants, spending an average of AED9,833 per event—almost six times the AED1,673 spent by local attendees. The MENA region led international business event visitation, accounting for 32 per cent of attendees, followed by Europe (27 per cent), Asia Pacific (10 per cent), East Europe and Central Asia (10 per cent), the Indian subcontinent (10 per cent), Africa (6 per cent), the Americas (5 per cent) and Oceania (1 per cent). Direct spending in adjacent sectors reached AED13.17 billion, with notable increases in business entertainment (AED1.78 billion, up 36 per cent), retail trade (AED2.64 billion, up 34 per cent), restaurants and F&B (AED2.23 billion, up 30 per cent), hotel accommodation (AED3.41 billion, up 15 per cent), and air travel and local transport (AED2.86 billion, up 8 per cent). The three leading industries – Healthcare, Medical, and Scientific; Food, Hotel, and Catering; and Information Technology – accounted for 58 per cent (AED7.59 billion) of the total GVA to Dubai's economy. These sectors attracted 51 per cent (1.02 million) of all event attendees and 61 per cent (569,216) of international visitors. The Healthcare, Medical, and Scientific sector led with 21 events and 460,858 attendees, generating AED3.68 billion in GVA. Food, Hotel, and Catering followed with nine events and 283,119 participants, contributing AED2.35 billion, while Information Technology hosted five events with 280,967 attendees, delivering AED1.55 billion in economic value. DWTC aims to continue expanding its influence, with the Dubai Exhibition Centre's expansion scheduled for completion in 2026, supporting Dubai's ambition to rank among the world's top three cities for business and leisure by 2033.
