GITEX 2022 achieves an economic output record of $698 million

GITEX 2022 achieves an economic output record of $698 million

A record Dh2.6 billion ($698 million) in overall economic production was produced by GITEX 2022, one of the biggest technology exhibits in the world, according to the Dubai World Trade Center’s economic effect assessment study.

According to the survey, Dubai’s economy kept close to $394 million, or around 57% of the overall output.

The 42nd technology expo, which was held at DWTC from October 10 to 14, was predicted to create 9,600 employment and generate Dh463 million in disposable household income, a 55 percent increase from the year 2019.

More than 170,000 people attended, of which 68,000 (40%), were from outside the country.

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.”

According to the DWTC study, almost 50% of international guests arrived with a companion this year and spent an average of 6.4 days in Dubai.

Five times as much money was spent on goods and services during the event by each international participant, who spent an average of Dh13, 000 on travel, lodging, entertainment, and shopping.

More than 5,000 enterprises from 90 countries participated in GITEX, which covered two million square feet of space—a 25 percent increase from the previous year—equivalent to 33 football fields.

The expo was also named the best large-scale exhibition of any kind in the globe by GRS, an independent event industry research company with offices in Dubai.

An exhibitor satisfaction survey was conducted by GRS, which examined key performance indicators such as the significance of the occasion, general satisfaction, likelihood of recommending the show, and likely 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.

According to him, GITEX’s net promoter score, which serves as a proxy for advocacy, has increased steadily over time.

“We have never seen any large-scale exhibition with more than 2,000 exhibitors during the past decade that has 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.

To read our blog on “Gitex makes its debut in Africa, holding its first exhibition in Morocco in May 2023,” click here.

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