Gitex Global 2022, held last October in Dubai, has achieved record-breaking results in generating AED2.6 billion ($698 million) worth of total economic output, with 57% (AED1.4 billion, $394 million) retained in Dubai’s economy, according to an Economic Impact Assessment Report.
Gitex Global 2022 attracted more than 170,000 attendees, 40% (68,000) of which were international. The 42nd edition of the world’s largest tech show, which took place at Dubai World Trade Centre (DWTC), was estimated to support 9,600 jobs generating disposable household income of AED463 million ($126 million), a 55% increase from 2019.
Omar Sultan Al Olama, Minister of State of Artificial Intelligence, Digital Economy and Remote Work Applications, and Chairman of Dubai Chamber of Digital Economy, said that the UAE is moving forward towards new futuristic horizons, under the directives of its wise leadership, leading to new summits of growth and comprehensive sustainable development.
He added that the UAE is pioneering the pivotal sectors of tomorrow’s economy to continue its development path including artificial intelligence, digital transformation, knowledge economy, and the 4th industrial revolution, among others, propelled by its proactive strategies that consolidates its status as a global economic hub
He further emphasized the importance of organizing GITEX Global 2022, and its remarkable success that reaffirms Dubai’s leadership and status as a global business and tech investment destination of choice. The world’s largest tech show has once again set the benchmark for any international mega-event to scale, providing a much-needed boost for the global economy.
“GITEX has been a key contributor to the economic growth of Dubai,” added Helal Saeed AlMarri, Director General of the Dubai World Trade Centre. “The 42nd edition in 2022 has 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 sector, especially in asserting the greater need for events in the post-pandemic new economy. Gitex Global 2022 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,” concluded AlMarri.
Global attendees drive economic impact with longer stays and higher spend
The 40% share of international attendees at Gitex Global 2022 represents a big jump surpassing previous editions reflecting the truly global stature of the event. According to DWTC’s Economic Impact Assessment Report, half of all international attendees travelled with a companion this year, while staying in Dubai for an average of 6.4 days. The average spend of AED13,000 per international attendee during the show on goods and services including flights, hotels, entertainment, and retail, was five times that of UAE-based attendees.
Gitex Global 2022 world’s ‘best large-scale exhibition’ reported independent research
The mega tech show’s unprecedented scale and growth this year was duly matched by its reputation as a super-connector accelerating the world’s digital economy, with it being rated as the ‘World’s best large-scale exhibition of any industry’ according to GRS, an independent event’ industry research consultancy.
The largest ever edition of Gitex Global unleashed the full power of the digital universe, featuring over 5,000 exhibiting companies from 90 countries spanning 2 million sq ft of exhibition space, an impressive 25 percent year-on-year increase, and matching the scale of 33 football fields.
GRS carried out an exhibitor satisfaction survey looking at Key Performance Indictors (KPI) 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’ve ever monitored in any industry,” said Enrico Gallorini, CEO at GRS, adding that Gitex Global’s NPS (Net Promoter Score), a proxy for advocacy, has grown consistently over the years.
“We’ve never seen any large-scale exhibition with more than 2,000 exhibitors during the past decade that have achieved an NPS recorded by Gitex Global 2022. It’s an extraordinary result because exhibitions struggle to find a balance between volume and quality. Gitex Global 2022 has exceptionally managed to achieve huge numbers while preserving incredibly high quality and delivering excellence,” added Gallorini.
Gitex Global’s rising economic impact and stature as the world’s ultimate tech super-connector comes as international visitors to Dubai remain on an upward track. According to the latest figures, the Emirate welcomed 10.1 million visitors from January – September 2022, up by 163% versus the same period last year, and just shy of the 12 million for the same period in pre-Covid-19.
Economic Impact Model Framework
The Gitex Global 2022 Economic Impact Assessment Report is based on a framework that considers direct spend by event organisers, exhibitors and attendees along with the ‘indirect’ and ‘induced’ value impacts in the adjacent sectors linked to the delivery of goods and services for the events sector. The model excludes any capital infrastructure investments, impacts of deals closed during events and any human capital benefits.
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