The spending associated with large-scale exhibitions, trade events, conventions and conferences hosted at Dubai World Trade Centre in 2015 has contributed AED12 billion ($3.26 billion) in retained value towards Dubai’s economy, according to a new report.
The latest Economic Impact Assessment report released by DWTC said the spending is equivalent to 3.1 percent of the emirate’s gross domestic product.
The 2015 annual report also focused on the cross-sectoral impact of MICE events driving incremental value across tourism, travel, hospitality and entertainment industries, collectively supporting over 80,400 jobs.
Estimating the total economic output at over AED20.9 billion for 2015, the study said that nearly 57 percent of all the layers of spend generated by these events has been retained within the domestic economy.
The whitepaper said that DWTC led the region’s MICE sector activity in 2015, hosting 104 large-scale events that attracted a total of 2.6 million attendees through the year, of which 1.19 million were from overseas.
The data reported a rise on 2011, which reported just over 30 percent international participation of a total of 1.3 million visitors to events at the venue that year.
The report added that every AED1 spent at a DWTC event created AED5 in value for the wider Dubai economy in 2015.
Saeed Almarri, director general, Dubai World Trade Centre Authority and Dubai Department of Tourism and Commerce Marketing, said: “DWTC is committed to Dubai’s economic diversification strategy firmly aligned to the Dubai Plan 2021, and is working towards contributing business visitors to the tourism target of 20 million visitors by 2020.
"The value being created by attracting and hosting business events in Dubai is unmistakably impactful for our domestic economy. With our ongoing capacity investments, we expect to continue to keep the momentum going on driving both, optimal scale and quality of content across our show calendar to ultimately allow business tourism to become an even greater economic engine for Dubai.”For all the latest travel news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
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