Inaugural Middle East International CEO Forum Brings Together Perspectives on the Future of Events Sector
Dubai Setting the Pace for Attracting International Visitors
Dubai, United Arab Emirates: Dubai is the foremost exhibition destination in the Middle East and Africa, spearheading a regional sector with annual revenues of AED 12 billion (US$ 3.37 billion), according to data gathered from the CEOs of some of the world's biggest event management companies.
Delegates assembled at the Dubai International Convention and Exhibition Centre for the inaugural Middle East edition of the International CEO Forum (ICF). This annual, invitation-only event - supported by Dubai World Trade Centre - brought together top executives from the world's largest event-organizing companies. It was the first time that the forum was held outside of Europe, drawing the highest turnout of delegates in its history.
Research presented at the ICF suggests that enlightened leadership, an enabling business environment and ongoing investment in support infrastructure are three of the major factors that have helped to position Dubai at the forefront of the global events and exhibitions industry.
"The International CEO Forum has traditionally been the most important meeting of minds in the events industry, enabling leading executives to analyse key trends affecting the market, as well as providing unique networking opportunities. Dubai provided an ideal venue to host this year's event, because the city is rapidly becoming one of the world's most important venues for exhibitions," said PRM Smulders, Organiser of the ICF.
Discussions at the 2008 Forum focussed on the key issues of attracting the optimum number and right calibre of visitors to ensure the success of a trade exhibition. Globally, this is proving to be a challenge for the industry, given the high volume of alternative business networking channels available and the growing "time poverty" of executives and consumers.
However, Dubai has successfully avoided this trend to date, registering record double digit visitor growth across many of its leading events in 2007.
"One of the major drivers of success in the events sector is the strength of the underlying economy. Dubai is seeing significant expansion of the non-oil sector, as well as a large surplus created by the rise in oil prices, all of which stimulate trade and creates new business opportunities," said Roger Martin-Fagg of Henley Management College, an economist who spoke at the event.
Another factor is the global interest in networking with UAE's wealth fund managers. "Dubai entities control a significant proportion of the US$2.9 trillion funds available worldwide for investment. This creates huge demand for spaces at events, particularly those that offer the potential to network with the companies that manage these funds," he added.
Delegates also discussed the general shift in audience profile, experienced by the industry world-wide. Today, many events are moving from an exclusively trade only, business-to-business customer profile, to offering an interactive global platform for both business and consumer visitors, attracting larger crowds and providing enhanced business opportunities.
With a vision to make Dubai the leading destination for all major exhibitions, conferences and events, Dubai World Trade Centre has ensured that it is able to anticipate and respond dynamically to these global industry trends through its ambitious strategic growth agenda.
Its twin major integrated commercial developments - Dubai Exhibition City (DEC) and Dubai Trade Centre District (DTCD) - are being designed to have the capacity, facilities and infrastructure that can cater to the requirements of the world's largest consumer and trade events. These world-class integrated commercial destinations will seamlessly blend business and lifestyle offerings to attract high volumes of new and repeat visitors.
"The overwhelming support we received from delegates at the International CEO Forum was intensely gratifying. We have received very positive feedback on our role as hosts of this debut Middle East edition of the ICF and there has been tremendous widespread interest in our future plans for growth," said Helal Saeed Al Marri, Director General, DWTC.
"The international event industry is continuously evolving, becoming increasingly professional and extremely competitive. The range of new challenges and opportunities promises a very exciting future and it is very encouraging that the world is seeing Dubai operate at the cutting-edge of these global changes," he concluded.
-Ends-
For more information, please contact:
Dubai World Trade Centre - Corporate Communications Division
Ashok Thomas
Tel: +971 4 308-6083
Fax: +971 4 331-4853
E-mail: Ashok.Thomas@dwtc.com
© Press Release 2008
