DWTC economic output surges to Dh18.3 billion in 2023

Dubai World Trade Centre (DWTC) announced on Monday that it generated a total economic output of Dh18.28 billion from 76 large-scale exhibitions, international association conventions, and industry conferences (of the total 301 exhibitions and events) in 2023.

The gross value added (GVA) to Dubai’s GDP by these large-scale events amounted to Dh10.53 billion, representing 58 per cent of the total economic output being retained within the local economy, fostering 69,281 jobs and generating Dh3.36 billion in disposable income.

The 76 large-scale business events hosted, organised and delivered by DWTC attracted 1.54 million attendees, with 46 per cent being international attendees. This reflects a 53 per cent 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.

Helal Saeed Almarri, Director General, DWTC Authority, said: “Dubai’s MICE [meetings, incentives, conferences, and exhibitions] 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.”

2023’s results resulted in remarkable growth and higher spending across MICE business services and adjacent industry sectors. Direct revenue generated through expenditure in adjacent sectors reached over Dh10.81 billion. The key sectors in the domestic economy that benefited were hotel accommodation (Dh2.96 billion, 54 per cent year-on-year growth), air travel and local transport (Dh2.64 billion, 20 per cent YoY growth), retail (Dh1.97 billion, 71 per cent YoY growth), restaurants (Dh1.71 billion, 51 per cent YoY growth), and business entertainment (Dh1.31 billion, 27 per cent YoY growth).

“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,” Almarri said.