|14 August, 2019

ADNEC contributed $626.14mln to Abu Dhabi economy in H1 2019

ADNEC and AACC hosted 29 exhibitions, 108 conferences and events, as well as 88 special events and supported more than 12,502 jobs

UAE currency, 500 dirhams closeup note. Image for illustrative purposes. Expatriate deposits made up about 11.5% of total deposits in the UAE’s central banks

UAE currency, 500 dirhams closeup note. Image for illustrative purposes. Expatriate deposits made up about 11.5% of total deposits in the UAE’s central banks

ABU DHABI - The first half of 2019 saw an input of AED2.3 billion into the Abu Dhabi economy, revealed the Abu Dhabi National Exhibitions Company on Wednesday.

In a statement, the company said that its Abu Dhabi National Exhibition Centre, ADNEC, and Al Ain Convention Centre, AACC, contributed AED2.3 billion to the Abu Dhabi economy in H1 2019, taking the company’s cumulative economic impact to AED34.3 billion since its establishment in 2005.

"The company’s direct and indirect contribution to the UAE capital’s economy increased by 45 percent this year, compared to the same period in 2018," the statement continued, adding that this increase was as a result of hosting two major events on the MICE calendar -- the International Defence Exhibition and World Future Energy Summit, both of which were held at ADNEC.

ADNEC and AACC hosted 29 exhibitions, 108 conferences and events, as well as 88 special events and supported more than 12,502 jobs in business tourism related sectors in the first half of 2019. The total number of the venues’ surrounding hotels registered 343,100 overnight visitors.

In H1 2019, ADNEC and AACC welcomed more than 1.5 million visitors from the UAE and across the world, marking a significant increase of 79 percent of visitors, compared to the first half of 2018 (684,747).

The Emiratisation rate reached 73 percent and Emirati women now represent 41 percent of the total national workforce, with 86 percent of Emiratis holding senior management positions, the company noted.

Commenting on the results, Noura bint Mohammed Al Kaabi, Minister of Culture and Knowledge Development and ADNEC Group Chairperson, said, "The UAE capital is leading the way in positioning itself as the region’s preferred business tourism hub and ADNEC’s H1 performance testifies to our concerted efforts to maintain this status." She added, "In line with our priority to contribute to achieving the Abu Dhabi Plan and its Economic Vision 2030, ADNEC will continue to drive the diversification and growth of the emirate’s economy as a central part of its strategy." Speaking on the robust performance, Humaid Matar Al Dhaheri, Group CEO of ADNEC, said, "The impressive number of events hosted by our venues in the first half of 2019 reinforces our position as a leading destination in the flourishing business tourism sector." Abu Dhabi National Exhibition Centre is the largest venue operated by the company and offers 133,000 square metres of flexible events space. The state-of-the-art venue offers facilities to support local and international event organisers in hosting high-profile MICE events.

© Copyright Emirates News Agency (WAM) 2019.

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