DWTC Boosts Dubai's Economy with AED22.35 Billion in 2024

Post by : Layla Badr

Photo: Dubai Government Media Office

Dubai’s World Trade Centre (DWTC) has made a significant impact on the city’s economy in 2024, with a total economic output of AED22.35 billion. This result comes from hosting a record number of large events, which has helped grow Dubai’s economy even more.

Dubai’s Crown Prince, Sheikh Hamdan bin Mohammed, praised the city’s success in becoming a global leader in hosting big international events. He said that the city’s growth is the result of long-term planning and the vision of Dubai’s leaders to keep creating new opportunities for development.

Record Number of Events in 2024

DWTC hosted 100 large-scale events in 2024, which is 32% more than the previous year. These events attracted over 2 million people, and nearly half of them (46%) came from other countries. This shows how Dubai has become a top choice for global business events.

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These events had a huge impact on the economy, contributing AED22.35 billion to Dubai’s economy. Of this amount, AED13.04 billion was directly added to the city’s GDP, meaning this money stayed in Dubai’s economy and helped its growth.

Job Creation and Growth in Other Sectors

The large-scale events also supported over 85,500 jobs in the MICE (Meetings, Incentives, Conferences, and Exhibitions) industry and other sectors related to these events. This created many benefits for people living in Dubai and helped the economy grow.

DWTC’s role in Dubai’s economic growth is key to achieving the city’s goals for 2033, as part of the Dubai Economic Agenda D33. This plan aims to make Dubai one of the top three cities in the world for both business and leisure by 2033.

DWTC’s Role in Supporting the Economy

DWTC plays a major role in supporting Dubai’s economy. Sheikh Hamdan bin Mohammed said that the city’s ongoing success in attracting large events shows the effectiveness of Dubai’s vision. By investing in world-class infrastructure and creating a business-friendly environment, Dubai is able to bring together some of the brightest minds and innovative companies from around the world.

DWTC’s Director General, Helal Saeed Almarri, also emphasized that DWTC is helping Dubai achieve its goal of becoming a global business and innovation center. The center continues to attract international businesses and talent, helping to make Dubai a key player in the global economy.

Impact of Large Events on Dubai’s Economy

In 2024, the 100 big events held at DWTC brought in AED2.9 billion in sales for the MICE industry. This money was mainly spent by event organizers, exhibitors, and companies who rented space at the venue and used services like logistics and business support. The total impact on Dubai’s economy was even greater – for every AED1 spent at DWTC, the city’s economy gained AED7.7 in return. This shows how DWTC’s events create a lot of value for Dubai.

Spending Across Different Sectors

The growth in events and the number of international visitors led to an increase in spending across many sectors of the economy. In 2024, spending in areas related to these events was estimated at AED13.17 billion. This includes sectors like:

• Business Entertainment: AED1.78 billion (up 36%)

• Retail Trade: AED2.64 billion (up 34%)

• Restaurants and Food & Beverages: AED2.23 billion (up 30%)

• Hotel Accommodation: AED3.41 billion (up 15%)

• Air Travel and Local Transport: AED2.86 billion (up 8%)

These numbers show that DWTC’s events have a positive effect on many industries, including travel, retail, hotels, and restaurants, by encouraging people to spend money during their visit to Dubai.

International Visitors Spend More

International attendees play a bigger role in driving economic growth than local participants. On average, international visitors spent AED9,833 each at the events they attended, which is nearly six times the amount spent by local visitors (AED1,673). This shows that international visitors contribute more to Dubai’s economy.

The highest number of international visitors came from the Middle East and North Africa (MENA) region, followed by Europe and Asia. Countries like Saudi Arabia, India, China, Turkey, and the United Kingdom are among the top visitors to Dubai’s business events.

Key Sectors Driving Growth

DWTC’s events focus on industries that are important to Dubai’s economy. In 2024, three sectors contributed the most to Dubai’s economic growth:

1. Healthcare, Medical, and Scientific: This sector held 21 events and brought in AED3.68 billion to Dubai’s economy.

2. Food, Hotel, and Catering: Nine events in this sector contributed AED2.35 billion.

3. Information Technology: Five IT-related events generated AED1.55 billion.

These sectors accounted for more than half of the total economic output generated by DWTC’s events, showing their importance to Dubai’s economy.

Looking Ahead

Looking to the future, DWTC plans to continue hosting global events and expanding its role in Dubai’s economy. The first phase of the Dubai Exhibition Centre’s expansion is expected to be completed by 2026. With this new venue, DWTC will be able to host even bigger events and attract more international visitors, helping Dubai grow even more as a global business hub.

In conclusion, DWTC’s success in 2024 shows how important it is to Dubai’s economy. The center not only brings in revenue but also creates jobs, supports various industries, and helps Dubai maintain its position as a leading global destination for business and innovation.a

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