The Dubai World Trade Center (DWTC) has confirmed that GITEX Technology Week has continued to play its role as a strong catalyst that is contributing to the growing position of Dubai and the region globally as a market leader in embracing modern technologies and innovations.

The results of the Gitex Technology Week's Economic Impact Assessment Report, released yesterday, show the growing contribution of the exhibition to Dubai's economy, with AED 1.6 billion in direct, indirect and up-to-date revenues in Dubai's GDP. The value retained in the local economy amounted to AED 919 million, representing 57% of revenues.

Multiply

According to the report, the number of attendees of the exhibition has nearly doubled by 60 times, and has seen a significant increase in its size since its inception by about 100 times.

The direct economic output generated by the participants amounted to AED 1.136 billion within the related sectors and sectors, which represents their total expenditure on goods and services related to their participation in the event. GITEX also recorded AED 468 million in indirect and innovative output resulting in a total economic output of AED 1.6 billion.

The event generated a significant retention value of 57% of its economic revenues, with AED 919 million, of which AED 669 million was directly added, AED 126 million was indirect, and AED 124 million was created.

Direct spending

The total direct expenditure of participants related to the exhibition (AED 354 million), including the rental of exhibition space, building platforms and other related expenses, in addition to spending on services related to business (AED 37 million), bringing the total direct spending to 391 million dirhams, It represents 34% of the event's direct economic output.

Participants' total spending on accommodation, restaurants and retailers in 2019 was AED 651 million, equivalent to 58% of GITEX's direct economic output, while aviation and visas totaled AED 94 million, about 8% of the show's direct economic output.

sales

The economic impact report showed that the total economic output was AED 1.6 billion, driven by direct spending of AED 354 million, which means that every AED 1 spent at GITEX resulted in 4.5 times its value as sales in the wider Dubai economy.

According to the report, GITEX 2019 registered a total of 171,282 participants, 33% of whom were from outside the country, while the event hosted more than 4,500 exhibitors.

Participants came from 152 countries, 40% of them from the GCC.

Careers

Estimates showed that GITEX Technology Week supported 6,239 jobs and generated disposable income for families living in Dubai worth AED 298 million. The events and related sectors contributed 4442 jobs with 71% of the jobs, while 1797 jobs (29%) resulted from indirect employment across the wider local economy.

World center

Hilal Saeed Al Marri, Director General of Dubai World Trade Center Authority and Dubai Department of Tourism and Commerce Marketing, said that the UAE is witnessing a major development that will enable it to become a global center for innovation. ».

Days of residence .. and spending

The economic impact assessment report of GITEX TECHNOLOGY WEEK 2019 showed that the expense of participants from outside the country was six times the number of participants from within the country.It also pointed out that the average days of stay for international participants was 5.7 days, while the average daily expenditure per person was AED 1741 (AED 9925 throughout the stay).

• 354 million dirhams total direct spending for participants in the exhibition.

• Every AED 1 spent at GITEX resulted in 4.5 times its sales value in Dubai's economy.