Dubai, UAE – The total economic output generated by 63 large-scale events hosted at Dubai World Trade Centre (DWTC) reached $3.53 billion (AED 13 billion) in 2022. Out of this amount, a substantial $2.01 billion (AED 7.4 billion) was retained within the local economy, showcasing the venue’s strong contribution to Dubai’s GDP.
The DWTC has released its latest Economic Impact Assessment (EIA) Annual Report for 2022, revealing significant contributions to Dubai’s economy through its events. The report highlights the remarkable growth of DWTC as a global mega-event hub and emphasizes the positive impact of business tourism on economic growth and development.
The events organized at DWTC attracted nearly 1.2 million attendees, with 40 percent of them coming from international locations. This represents a 49 percent year-on-year increase in foreign participation, demonstrating Dubai’s position as a leader in hosting global events.
The study conducted for the EIA Annual Report further revealed that every $274,725 (AED 1 million) spent at these MICE (Meetings, Incentives, Conferences, and Exhibitions) events generated approximately $1.96 million (AED 7.4 million) of economic output for Dubai across various interlinked sectors. This multiplier effect underscores the significant impact of direct investments in DWTC events on the wider economy.
The report highlighted the positive influence of DWTC’s large-scale events on adjacent sectors across Dubai’s economy. An estimated $2.07 billion (AED 7.6 billion) in direct revenue was generated through spend across sectors such as business entertainment, accommodation, restaurants, retail trade, transport, and government services. These events also supported over 48,000 jobs, representing a significant 110 percent year-on-year increase, and resulted in an increase in disposable household income of $653.4 million (AED 2.4 billion).
The growth in international participants had a direct impact on the GDP, as overseas travelers spent six times more per event compared to domestic attendees, with an average spend of $1,636 (AED 6,000). This influx of spending contributed to the positive economic growth and prosperity experienced by Dubai in 2022.
“The MICE sector has long been an integral pillar of the city’s economy, as the business ecosystem stimulator for the wider region, reflecting the emirate’s commitment to GDP diversification,” said Helal Saeed Almarri, the Director General of DWTC Authority. “The latest 2022 EIA Annual Report from DWTC underscores business tourism as a key driver of economic growth and sustainable development.”
