Dubai’s MICE sector grows 25% while events industry clocks Dh165 billion in 2023 as Alltech Events doubles turnover
News Highlights:
- The event industry in Dubai is estimated to be worth Dh165.15 billion (US$44.7 billion) in 2023 and grow at a Compound Annual Growth Rate (CAGR) of 25% from 2023 to 2027.
- Dubai’s exhibitions, conferences, seminars and business events sector has recorded a 25 percent growth last year as Dubai World Trade Centre (DWTC) said it has attracted 2.47 million participants in 2023.
- The events industry supports 100,000 jobs in Dubai while it will create a further 10,000 more in the next five years.
- The Meetings, Incentives, Conferences, and Exhibitions (MICE) industry in the UAE is expected to grow at 8.5 per cent during the 2023-30 from US$5.21 billion to US$9.22 billion by 2030 due to increasing business events, exhibitions and conferences in the country.
- According to Market Decipher, a research entity, Middle East Event Services Market shall reach a value of US$144.2 billion in 2033, growing with a CAGR of 12.1% during the forecast period of 2023 to 2033.
UAE News 24/7 