The GCC exhibition market is facing unprecedented growth with a 77% increase in current exhibition capacity by 2009, a report has revealed.
The study, released by the global association of the exhibition industry (UFI), said that the GCC would be able to offer 429,800 square metres of exhibition space in three years with four centres being built in Dubai, Abu Dhabi, Doha and Riyadh. “It is clear that the GCC exhibition market is in a period of significant expansion, demonstrated by the increasing sophistication and economic value of the regional event sector,” said Jochen Witt, president of UFI.
The report also found that 289 trade fairs were held in the GCC in 2006, a 40% increase compared to 2002.
This year, 16 new trade fairs and exhibitions will be launched with consumer goods and education leading themes.
The research also discovered differences in market size depending on the cities or countries involved.
It noted that the UAE, and particularly Dubai, led the regional industry when it came to exhibition space availability and the number of events organised. By the year 2009, the UAE’s exhibition space will comprise 65% of the region’s total exhibition area while Dubai alone will represent 47%.
It added that Dubai’s leading position would be reinforced in the future with newcomers including Abu Dhabi and Doha boosting the amount of exhibition space across the Middle East.
There are currently 16 operational exhibition centres throughout the Gulf, offering a total net covered exhibition space of 243,300 sq m. Over half of this exhibition space is located in the UAE and more than one third in Dubai.For all the latest banking and finance 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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