Dubai World Trade Centre (DWTC) has reaffirmed its pivotal role in driving Dubai’s economy with a remarkable surge in economic output in 2023. Hosting 301 events and attracting 2.47 million participants, including 1.54 million from overseas, DWTC’s impact on adjacent industries such as Travel, Accommodation, and Retail was substantial.
The 2023 Economic Impact Assessment (EIA) Report highlighted an astounding 40% year-on-year increase in total economic output, reaching US$4.98 billion, largely driven by 76 large-scale events. These events contributed US$2.87 billion to Dubai’s GDP, with 58% of the economic output retained locally. International participation surged by 53%, making a significant contribution to the city’s economy.
Moreover, events hosted at DWTC supported 69,281 jobs and generated US$915 million in disposable household income, emphasizing their broader socio-economic impact.
His Excellency Helal Saeed Almarri, Director General of DWTC Authority said, “Aligned with Dubai’s Economic Agenda D33, we continue to spearhead efforts in sector diversification, reinforcing the city’s stature as a leading global business hub. The remarkable accomplishments of 2023, presented in the ‘DWTC Economic Impact Assessment Report’ demonstrate that Dubai’s MICE sector, driven by DWTC, remains a vital pillar of financial resilience and growth underscoring our accelerated strides towards sustainable socio-economic development.”
DWTC’s events portfolio, strategically aligned with Dubai’s economic priorities, showcased Healthcare, IT, and Food sectors as top contributors, collectively accounting for 59% of GVA and 49% of total large-scale event visitation. Additionally, adjacent sectors like hotels and transportation experienced significant economic boosts.
DWTC’s accomplishments underscore Dubai’s commitment to fostering business tourism and sustainable socio-economic development. As a global business hub, Dubai continues to leverage DWTC’s influence to drive growth and resilience in various sectors, further solidifying its position on the global stage.
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