The study attributed the record AED13.1 billion in retained economic value for Dubai’s economy to the performance of the DWTC‘s large-scale events, estimating that for every AED1 ($0.27) spent at these events , a further 4.4 times in sales value was generated for ancillary sectors and Dubai’s wider economy.
The total corresponding gross output was estimated at Dh23 billion, resulting in a high 57 percent locally retained impact, marking a three percent increase over 2017, according to the latest Economic Impact Assessment report for 2018 by the DWTC
DWTC‘s latest Economic Impact Assessment report for 2018 also showed that the economic value of the events in 2018 was equivalent to 3.3 per cent of Dubai’s Gross Domestic Product (GDP).
Dubai: Dubai World Trade Centre (DWTC) said on Sunday its net economic value stood at Dh13.1 billion, creating a positive impact of 3.3 per cent of the city’s GDP in 2018.
DWTC has noted completion on projects including nine offices in One Central; 4,300 and 2,700 parking bays at One Central and Happiness Street Car Park, respectively; and road, utilities, and district cooling infrastructure for 2,300 residential units in Expo Village.
Commenting on the wins, Mahir Julfar, senior vice-president – Venue Services Management, Dubai World Trade Centre, said: “Securing the new congresses demonstrates DWTC‘s growing appeal as a business events destination, with a range of capabilities and offerings to suit professionals in the Mice sector across the globe.
“PRIME has been created to provide brands operating across the manufacturing, retail, hospitality, foodservice and other industries with a dedicated platform to grow their business through private label and contract manufacturing deals,” said Trixie LohMirmand, Senior Vice President, Exhibitions and Events Management, DWTC. “Encompassing food and non-food consumer packages goods, PRIME will strive to build a marketing platform to educate the market and create growth opportunities through brand licensing.”
The development offers an interconnected space, integrating offices, retail, residences, hotels and a wide variety of F&B options, which the official statement said reaffirms DWTC‘s role as a destination developer and is set to further draw international businesses to set up base in Dubai.
The 1 megawatt system, located above DWTC‘s Sheikh Rashid Hall, includes more than 3,000 solar photovoltaic (PV) panels covering 6,600 square meters of rooftop space.
Organisers of GITEX Shopper, Dubai World Trade Centre (DWTC), has announced the merger of the GITEX Shopper Spring edition, which was supposed to take place from 3rd to 7th April with the Autumn edition scheduled from 2nd to 6th October.
A core team of 44 chefs from DWTC participated in the five-day event, demonstrating their culinary skills across multiple categories including Five-course Gourmet Dinner, Emirati Cuisine – Practical Cookery, An Arabian Feast, Ice carving, and Pastry Showpiece.