Gitex 2022 generates record $698m in economic output

Gitex 2022, one of the world's largest technology shows held in Dubai in October, generated a record Dh2.6 billion ($698 million) worth of total economic output, Dubai World Trade Centre said in its economic impact assessment report on Wednesday.

Nearly $394 million, almost 57 per cent of the total output, was retained in the Dubai economy, the report said.

The 42nd technology show, which took place from October 10-14 at DWTC, was estimated to support 9,600 jobs generating disposable household income of Dh463 million, a 55 per cent increase from 2019. It attracted more than 170,000 attendees, 40 per cent (68,000) of which were international.

Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, called the event the “largest technology exhibition in the world”.

DWTC director general Helal AlMarri said: “Gitex has been a key contributor to the economic growth of Dubai … [it] achieved unprecedented success across all levels, positioning Dubai and the UAE at the forefront of future technologies.

“DWTC has always been a flag bearer for the global MICE [meetings, incentives, conferences and exhibitions] sector, especially in asserting the greater need for events in the post-pandemic new economy … [Gitex] has not only been a resounding endorsement of this fact but has also reflected the confidence of 176 nations in Dubai as the global capital for business and tourism.”

Nearly 50 per cent of the international attendees travelled with a companion this year, staying in Dubai for an average of 6.4 days, according to the DWTC report.

The average spending of Dh13,000 per international attendee during the show on goods and services including flights, hotels, entertainment and retail, was five times that of the UAE-based attendees.

Gitex featured more than 5,000 exhibiting companies from 90 countries, spanning two million square-feet of exhibition space, a 25 per cent year-on-year increase, and matching the scale of 33 football pitches.

The event was also rated as the world’s best large-scale exhibition of any industry by GRS, a Dubai-based independent event industry research consultancy.

GRS carried out an exhibitor satisfaction survey looking at key performance indicators including the importance of the event, overall satisfaction, likelihood to recommend the exhibition and the likelihood of returning.

“Combining these four KPIs, Gitex 2022 is the best large-scale exhibition we have ever monitored in any industry,” said Enrico Gallorini, chief executive at GRS.

Gitex’s net promoter score — a proxy for advocacy — has grown consistently over the years, he said.

“We have never seen any large-scale exhibition with more than 2,000 exhibitors during the past decade that have achieved an NPS recorded by Gitex … it’s an extraordinary result because exhibitions struggle to find a balance between volume and quality,” Mr Gallorini said.

Source: The National