2015 MICE events boost Dubai's economy
UAE: The latest Economic Impact Assessment report released by the Dubai World Trade Centre (DWTC) indicates that exhibitions, trade events and conferences taking place the at the site have generated AED 12 billion for Dubai’s economy in 2015 – equivalent to 3.9 per cent of the emirate’s overall GDP. The hosting of MICE events of the exhibition centre has ‘directly supported’ 80,400 jobs in the region, with the report stating that nearly 57 per cent of the spend generated at these events has been retained within the domestic economy.
‘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,’ explained His Excellency Helal Saeed Almarri, director general, Dubai World Trade Centre Authority and Dubai Department of Tourism and Commerce Marketing. ‘The value being created by attracting and hosting business events in Dubai is unmistakably impactful for our domestic economy. As evidenced by the high growth across all key MICE sector metrics from the number of mega-events, to the overseas participation and the larger spend per attendee that we are able to drive across related sectors within Dubai, DWTC has delivered a very strong CAGR on contribution to GDP over the past three to four years.’
In addition to the overall spend, the report highlights the increase in international visitors with 1.19 million of the 2.6 million (46 per cent) attendees coming from overseas to DWTC events. It also makes the case that every AED 1 spent at a DWTC events results in AED 5 in value for the wider Dubai economy. ‘Every overseas participant at our venue is ultimately a visitor to Dubai and will benefit the wider tourism ecosystem from airlines and hotels, to retail and attractions across the city. Naturally, the massive multiplier effect of having international traffic drives much greater value to our GDP,’ added His Excellency Helal Saeed Almarri. ‘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.’