Business tourism at Dubai World Trade Centre generated $3.5 billion in 2018, the equivalent of 3.3 percent of the emirate’s gross domestic product.
The total corresponding gross output was estimated at $6.2bn, resulting in a high 57 percent locally retained impact, which marked a three percent increase over 2017.
The latest ‘Economic Impact Assessment’ report revealed the venue hosted 97 large-scale exhibitions, trade events, conventions and conferences during 2018, as reported by Emirates News Agency.
The study attributed the record $3.5bn in retained economic value for Dubai’s largely import-based economy to the performance of the DWTC’s large-scale events, estimating that for every AED1 spent at these events, a further 4.4 times in sales value was generated for ancillary sectors and Dubai’s wider economy.
Europe accounted for the highest number of international business event visitors at 25 percent, followed by the GCC (21 percent), and the MENA region (17 percent).
Five key industry sectors dominated in 2018, including food, hotel and catering; healthcare, medical and science; information technology, business and finance; energy and environment; and industrial manufacturing, accounting for 66 percent ($2.3bn) of the gross value added to Dubai’s economy.
The report estimates that these five sectors attracted 62 percent (1.6 million) of all attendees to the DWTC’s 97 large-scale events in 2018.
According to the economic impact report, a total of 87,861 jobs were attributable to the DWTC’s business events sector in 2018, and generated an aggregate $1.14bn in disposable household income.
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