DWTC events made $6bn for Dubai economy
Almost half of visitors came from overseas
Direct economic impact up 22% to AED16.1bn
Dubai’s large-scale events are having a positive impact on the local economy, buoying a variety of sectors and propelling the emirate into the “global top tier” of cities with the most influential events industries, analysts say.
The most recent figures from the Dubai World Trade Centre (DWTC) show that a record number of events staged at the venue last year generated AED22.35 billion ($6.08 billion) of value to the emirate’s economy, with a ripple effect across the retail, hospitality, transport and other sectors.
DWTC hosted 100 large-scale events (above 2,000 participants) in 2024, up 32 percent from 2023. These events drew more than 2 million attendees, of which 46 percent were from overseas, according to DWTC’s 2024 Economic Impact Assessment report.
Last year’s calendar featured a mix of exhibitions, international conventions and industry conferences including technology expo Gitex, tourism fair Arabian Travel Market and fintech event Seamless Middle East.
For every AED1 spent at the events, AED7.7 of economic output was generated across Dubai, the report showed. About 58 percent – AED13.04 billion – of that was retained as gross value added (GVA) to the Dubai economy.
Commentators say this demonstrates a significant uplift for Dubai’s economy and highlights the capacity of large-scale events to power growth.
Naim Maadad, chief executive and founder of Gates Hospitality, says DWTC’s performance “underscores the vital role large-scale events play in driving Dubai’s economy”.
Unlike sectors that focus on a single market, the MICE (meetings, incentives, conferences and exhibitions) market engages with a broad spectrum, introducing new business streams characterised by diverse spending habits, Maadad says.
“It plays a particularly vital role in the hospitality industry, often bridging gaps during off-peak seasons when market demand and rates may otherwise be low,” he adds.
Last year’s events generated a direct economic impact of AED16.1 billion in 2024, up 22 percent year on year, according to the report. This figure includes the provision of all MICE goods and services, as well as revenues to intermediaries involved in the sales process.
Within this, MICE sales reached AED2.9 billion, including event organisers and exhibitors’ investment in venue space, stand services, logistics and other support services.
This expenditure catalysed a further AED13.17 billion of direct spending in adjacent sectors.
A key driver of increased economic activity from DWTC events last year was a 31 percent annual surge in international attendees to 936,083.
They contributed almost six times more to the local economy than domestic participants, spending an average of AED9.8 per event compared to AED1.6 for local attendees, DWTC’s report showed.
The top source regions for international participants were the Middle East and North Africa, accounting for 32 percent, followed by Europe (27 percent), Asia Pacific, East Europe and Central Asia and the Indian subcontinent (10 percent each).
Top source countries included Saudi Arabia, India, China, Turkey, Oman, the UK, Egypt, Iran, Russia and Germany, “highlighting the city’s strategic position as a global business destination bridging East and West”, the report says.
Mahir Abdulkarim Julfar, executive vice-president at DWTC, says the increase in overseas visitors was the result of a series of converging macro and micro factors.
“At a macro level, Dubai’s growing reputation as a global business hub, supported by visionary leadership, world-class infrastructure and strong air connectivity, has made the city a strategic destination for business tourism,” he says.
“Micro-level factors include DWTC’s continued investment in venue hosting capacity and event infrastructure, our strategic partnerships and the growing relevance of sectors represented at our events.”
“Dubai offers everything the international business community seeks, from a logistics standpoint – with unrivalled airlift capacity, world-class safety standards and a vast selection of five-star hotels and dining experiences – to its evolution as a city that actively drives global markets,” says Mansoor Ahmed, an independent economic adviser for the Mena region based in Dubai.
“DWTC’s events remain a critical economic engine for Dubai,” he says. “And at $3.5 billion per year, DWTC firmly positions itself within the global top tier of MICE destinations.”
Ahmed says that, in terms of absolute economic output, DWTC is still “modestly behind” the largest MICE destinations – but “given Dubai’s fast-rising status in global trade and tourism, this is a strong performance”.
DWTCThese large venues, including Las Vegas Convention Center, Orlando’s convention venues and Frankfurt Messe, generate between $4 billion and $15 billion annually in combined citywide economic activity.
However, as Ahmed points out, they also typically host twice as many annual attendees compared to DWTC and benefit from larger local tourism ecosystems.
Dubai’s reliance on business travel, as well as leisure tourism, alters the nature and distribution of its economic impact, Ahmed says.
“As such, DWTC’s economic contribution is expected to grow at a faster pace than that of more mature MICE destinations.”
Dubai is now well-equipped to establish itself as a preferred destination for mega events worldwide
Mansoor Ahmed, independent economic adviser on Mena
Last year three key sectors – healthcare, medical and scientific; food, hotels and catering; and information technology – accounted for 58 percent (AED7.59 billion) of total GVA to Dubai’s economy, 51 percent of event attendees and 61 percent of international visitors, according to the report.
Spending on hotel accommodation reached AED2.23 billion, up 30 percent year on year, while spending on retail rose 36 percent to AED2.64 billion.
Spending on air travel and local transport reached AED2.86 billion (up 8 percent); restaurants and the food and beverage sector earned AED2.23 billion (up 34 percent); and business entertainment captured AED1.78 billion (up 36 percent).
Ahmed says Dubai is “now well-equipped to host complex, high-profile international gatherings and establish itself as a preferred destination for mega events worldwide” – and that it can capitalise further on the high-spending footfall that such large-scale events generate.
Malls, retail outlets and local brands have an opportunity to align their product launches and promotions with the event calendar, he says.
The hospitality sector, meanwhile, could develop and market bespoke business traveller packages based on MICE-specific rates, as well as loyalty programmes tied to major events and cross-promotions with event organisers to boost revenue.
In the years ahead, DWTC hopes its events will play an even bigger role in the ongoing growth of the Gulf’s second-largest economy, with its focus on promoting and celebrating high-impact industries.
For more information about Dubai World Trade Centre go to dwtc.com
