DWTC events generated AED 12 bn in 2015
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The latest Economic Impact Assessment report released by Dubai World Trade Centre (DWTC) revealed that spend associated with large-scale exhibitions, trade events, conventions and conferences hosted at DWTC in 2015 has contributed AED 12 billion.
This is an equivalent to 3.1% of the emirate’s GDP (Gross Domestic Product).
The 2015 annual report also focused on cross-sectoral impact of MICE events driving incremental value across tourism, travel, hospitality and entertainment industries, collectively supporting over 80,400 jobs. Estimating total economic output at over AED 20.9 bn for the 2015 period.
DWTC led the region’s MICE sector activity in 2015, hosting 104 ‘large-scale’ events that attracted a total of 2.6 million attendees, of which 1.19 m were from overseas resulting in nearly 46% international participation at these events.
The data represents a significant growth across both parameters when compared to the first economic impact report published by DWTC in 2011, which reported just over 30% international participation of a total of 1.3 m visitors to events at the venue that year.
The 2015 study estimated that DWTC events generated AED 20.9 bn in total sales from event participation-related spends, not including any commercial deals closed at, or resulting from the events, or value of business partnerships established during the events.
A total of AED 14.9 bn of this value was directly driven by event participants with the MICE and adjacent sectors relating to travel, tourism, hospitality and entertainment.
The DWTC report highlighted the ability of MICE sector to sustainably generate wider value for Dubai’s GDP and particularly ability of DWTC to attract high-profile global events.
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