The Dubai World Trade Center's latest economic impact report for 2018 confirmed that the Dubai World Trade Center (DWTC) has achieved record high returns of AED 23 billion, of which AED 13.1 billion has been retained in the economy as a cumulative cumulative value, equivalent to 3.3% of the emirate's GDP. Representing 57% of revenue, up 3% from 2017.

The report analyzed the factors responsible for the continued growth of Dubai World Trade's contribution to Dubai's GDP acceleration agenda, highlighting the success of 97 exhibitions, business events and major conferences hosted by the Center during 2018, attracting more than 2.5 million visitors, Million visitors from outside the country, reflecting the continued participation of global participants in achieving sustainable returns on investment.

The role of Dubai

The Director General of the Dubai World Trade Center Authority and the Department of Tourism and Commerce Marketing in Dubai, Helal Saeed Al Marri, said that the year 2018 saw the completion of the Center four decades in the life of the fast pace, towards achieving the ambitious task set by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Prime Minister and Ruler of Dubai, to make the emirate a global hub for business communication in the region.

"Our strategic investments and efforts during this period have been to strengthen the role of DWTC and its position as a leading platform in the event sector, ideally positioned to connect developing economies with rapidly growing emerging markets across the world. Which we have received from our leaders, has resulted in the development of the event sector, increasing its continuous contribution to the UAE's economic diversification agenda and Dubai's GDP, in line with the Dubai 2021 Plan.

"At DWTC, we seek to build on our strong portfolio and build on it in our pursuit of this vision to help grow the knowledge economy and the entrepreneurial ecosystem."

Al Marri emphasized that the major events in Dubai are key factors in accelerating GDP. They have contributed positively to supporting the economy year after year. The role of the Center is a global platform for organizing and hosting business events across Europe, the Middle East, Africa and South Asia. , Can effectively support the agenda of diversification and sustainable growth in Dubai and the UAE.

"The development of Dubai has been an excellent destination for the business sector to further enhance its reputation as a hub for the global business community.

"The Center's portfolio, and its amazingly rich portfolio, has evolved into innovative business segments, including key sectors identified in the Emirates National Innovation Strategy, and through our diversification strategy and the development of increasingly bold methods to host major events, we have supported Dubai's strategic position Globally enabling business and commerce, allowing us to attract more international business visitors and having a significant positive impact on Dubai's GDP. "

"His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, has set clear strategic guidelines to push Dubai forward to at least 10 years ahead of any other global competitor in all sectors. "Our focus on future scrutiny is to enhance customer experience and establish a broader economic value, both clearly demonstrated in our successful priorities so far, by attracting large numbers of international participants in business events in Dubai."

Direct output

The report attributed the achievement of AED 13.1 billion in standard economic value in the Dubai economy to the high performance of the major events at the Dubai World Trade Center, estimating that every dirham spent on major events contributes AED 4.4 to sales in other economic sectors Relevance to the event sector and Dubai's wider economy.

Overall, Dubai's event sector generated AED 16.3 billion in direct economic output in 2018, an increase of 2% over 2017, driven by higher demand for goods and services.

In addition to the direct revenue generated, the frequent visits of participants in events support the development of industry through knowledge exchange and internal investment in the economy.

Visitors and participants

According to the report, visitors to European countries represented the largest number of visitors to global business events, 25%, followed by visitors to the GCC by 21%, and visitors to the countries of the Middle East and North Africa by 17%.

The top 10 destinations were Saudi Arabia, India, Oman, China, Egypt, Turkey, the United Kingdom, Germany, Italy and Kuwait.

The participants from outside the country in the major events of the center accounted for 41% of the total number of participants. They were responsible for achieving 79% of the total direct expenditure of 12.9 billion dirhams, while participants from within the state accounted for 59% of the total number of participants. Of the total direct expenditure of AED 3.4 billion.

The expenditure of participants from outside the country was seven times higher than in the UAE (AED 7,775 versus AED 1,099). This was due to an increase in the average stay of visitors from outside the country and their companions to 5.5 days during 2018 compared to five days in 2017, While the number of escorts increased by 76% compared to 2017.

Key sectors

According to the report, five key sectors in 2018 are food, hotels, hospitality, health care, medicine, science, information technology, finance, business, energy and environment, and manufacturing industries, responsible for achieving 66% (AED 8.6 billion) of the total value added in the economy of Dubai.

The report estimated that these five sectors attracted 1.6 million participants, representing 62% of the total number of participants in 97 major events held at the Dubai World Trade Center in 2018. The same sectors attracted 66% of the total number of participants from outside the country, Dubai is an attractive destination, in addition to being a city equipped for business and attracting foreign investment.

87.8 thousand jobs

According to the Economic Impact Report, DWTC's business activities supported 87,861 jobs in 2018, generating 4.2 billion dirhams of disposable income for Dubai-based households.

Seventy-one percent of employment opportunities were generated as a direct result of demand generated within the sector of activities and related sectors, while the remaining 29% was due to the broader domestic economy as a result of the impact of indirect employment.

Transformative Industries

The manufacturing sector witnessed the fastest growth rate in all sectors, achieving AED 800 million as a total value added equivalent to double the value in 2017 and attracting 50% of international participants.

Food and hotels

The food, hospitality and hospitality sector maintained its position at the top of the sector with an international participation of 46%, achieving AED 2.7 billion in total value added and grew by 41% compared to 2017.

Health care and medicine

Healthcare, medicine and science accounted for 49% of the total number of international participants in 18 activities, accounting for AED 2.5 billion in total value added, up 7% from 2017.

Information Technology and Finance

The IT, finance and business sector contributed AED 1.7 billion in total value added, an increase of 75% compared to 2017 and an international share of 32%.

Energy and environment

The energy and environment sector witnessed an international participation of 48% and an added value of AED 900 million.