Dubai reports significant growth in business events and tourism for H1 2024

Dubai is reporting significant progress in business events for 2024. The city secured 175 international business events in the first half of 2024 – a 24% increase from the previous year. The events of this year are expected to attract a total of over 92,000 delegates. This promising start to 2024 suggests that Dubai is on track to achieve its Economic Agenda D33, which aims to double the size of Dubai’s economy by 2033. Dubai Business Events (DBE), part of the Dubai Department of Economy and Tourism, played a crucial role in winning these bids, collaborating with stakeholders and industry experts. The International Congress and Convention Association (ICCA) recognised Dubai as the top city in the Middle East for association meetings in 2023. Cvent also ranked Dubai the number one meeting destination in the Middle East and Africa. Ahmed Al Khaja, CEO of Dubai Festivals and Retail Establishment, commented: “Associations, businesses and organisations around the world are increasingly recognising the power of hosting their meetings in Dubai. Our vibrant calendar of upcoming events will bring together industry leaders, visionaries and delegates from all over the world, taking advantage of and feeding into our knowledge economy and propelling collective growth, and we look forward to welcoming them to Dubai.” In the tourism sector, Dubai welcomed a record 9.31m international overnight visitors in the first half of 2024 – a 9% increase from the same period in 2023. This growth follows a landmark 2023, where the city hosted a total of 17.15m international visitors. The increase is a result of citywide strategies implemented in collaboration with public and private sector stakeholders. Dubai’s consistent high performance earned it the No.1 global destination title in the Tripadvisor Travellers’ Choice Awards for the third consecutive year. The World Travel Awards also named Dubai the Middle East’s leading destination, with Dubai International Airport and Mina Rashid recognised as the leading airport and cruise port in the region. Sheikh Hamdan commented: “With every year, Dubai continues to consolidate its status as a frontrunner in the global tourism landscape and grow in popularity as an international destination.” Growth in these industries is by no means an outlier statistic. Dubai’s economy grew by 3.2% year-on-year in Q1 2024, achieving a GDP of AED 115bn ($31bn). This growth reflects the strong performance of key sectors: transportation, finance and insurance, trade, information and communications, accommodation, food services, and real estate. The economic expansion continues the positive trend from 2023, when Dubai’s GDP reached approximately AED 429bn ($117bn), a 3.3% increase from 2022. Sheikh Hamda Helal Saeed Almarri, director general of the Dubai Department of Economy and Tourism, said: “Dubai’s impressive quarterly growth performance underscores the sustained momentum and confidence within its dynamic business ecosystem, reflecting the robust diversification of our economic foundations. We remain committed to advancing the comprehensive economic framework set forth in Dubai’s Economic Agenda 2033.” These achievements are testament to Dubai’s effective business strategy. With its strong economic performance expected to continue, Dubai is poised to cement itself as a global hub for business events and tourism in years to come.