Dubai World Trade Centre continues to play an integral role in strengthening the emirate’s position as a global economic hub by generating over Dh200 billion of total economic output and hosting over 5,000 business and MICE events from 1979-2018.
dubai — Dubai World Trade Centre (DWTC) continues to play an integral role in strengthening the emirate’s position as a global economic hub by generating over Dh200 billion of total economic output and hosting over 5,000 business and MICE events from 1979-2018.
DWTC, which celebrates its 40th anniversary this year, has attracted over 30 million business visitors to Dubai from inception through 2018, of which 12 million visitors were from international markets thereby facilitating international trade and consolidating Dubai’s status as a global business destination, according to DWTC statement on Friday.
Inspired by the ground-breaking vision for Dubai to be a model growth-oriented city for the world, the emirate’s founding father, Sheikh Rashid bin Saeed Al Maktoum, triggered the city’s extraordinary and rapid metamorphosis in just four decades, with DWTC fuelling the evolution and cementing of Dubai’s reputation as a competitive international leader in business tourism, events trade and investment.
Embodying the aspirations of the city’s leadership, the thirtynine-storey, Sheikh Rashid Tower (commonly known as Trade Centre Tower) that started its journey as the tallest structure in the Arab world and the symbol of business on the face of the Dh100 currency bill, has dramatically and sustainably transformed its purpose over time to become (i) home to regional and international businesses within the multi-dimensional 1.3 million square feet DWTC complex in the heart of Dubai; (ii) pivotal to the city’s global leadership in the expansive events industry; and (iii) steadily building the emirate’s competitiveness as a business, knowledge and networking hub for 2025 and beyond.
Helal Saeed Almarri, directorgeneral, Dubai World Trade Centre Authority (DWTCA) and Dubai Department of Tourism and Commerce Marketing (DTCM), said: “Our founding father, Sheikh Rashid bin Saeed Al Maktoum, defined a bold vision — for Dubai to be ‘the’ globally recognised trade and business hub for the entire region, propelling a domestic economic agenda rooted in diversification — an unconventional and defiant position to adopt for any nation in the Middle East given the traditional stronghold of oil-driven GDP growth. It has been this pathdefining leadership that has guided our mission as DWTC and seen our city soar to heights ‘beyond’ what many believed to be ‘possible’. His mandate since DWTC’s inception has been our guiding beacon in defining our mission and strategic priorities that have over the years focused on shaping Dubai’s core proposition as a hub for tourism, trade and finance. Throughout the past four decades, we have been humbled and honoured by the privilege of bearing the flagship of ‘future definers’, both for the wider region and beyond. DWTC’s success is measured by our ability to continuously grow the sector’s relevance and contribution to Dubai’s GDP and to this end, our fulfilment of this objective is a testament to the strength of our foundation, which will grow even stronger as we enter the next era of enablement of the city’s digitised, hyper-connected, new-age business ecosystem.”
DWTC plays host to over 600 events annually across key sectors, including technology and innovation, healthcare, energy and sustainability, real estate, food and beverage, hospitality, automotive and transportation, among others, all of which are closely aligned with Dubai’s and the UAE’s strategic vision for economic diversification.
The nation is already paving the way for a tomorrow, rooted in innovation, knowledge creation, open data sharing and diversification as outlined in the UAE Centennial 2071 Agenda. As Dubai accelerates towards this goal, DWTC plays an even more crucial role in charting the next stage of growth, over the forthcoming decades.
To facilitate this purpose, DWTC continues to enhance Dubai’s business ecosystem, enabling new industries, fostering entrepreneurship, providing a rich content network, developing sustainable and integrated infrastructure, facilitating knowledge sharing and creating opportunities for youth of this region and the world — all working in tandem to strengthen the emirate’s position as an inclusive, stable and worldclass destination to live and work, the statement said.
It said DWTC has also significantly contributed to growing investor confidence in Dubai’s economy. In the first half of 2018 alone, foreign direct investment (FDI) into the emirate has risen to $4.84 billion, according to Dubai Investment Development Agency (Dubai FDI). New landmark properties developed by DWTC are also bolstering the emirate’s ability to consistently attract international businesses, as well as long-term foreign investment. The development of One Central, which stands adjacent to the DWTC complex, is a significant milestone that is aligned to DWTC’s long-term strategy.