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Gitex sees 20% growth despite global financial meltdown
The trade show business in the UAE continues to grow even in the face of the global financial crisis.
- By Nadia Saleem, Staff Reporter
- Published: 23:32 October 15, 2008
- Helal Saeed Al Merri with senior officials at a press conference. The UAE will spend $11.4 billion on ICT this year, and will continue to increase investments, which are expected to reach $14.8 billion by 2011; a growth of almost 30 per cent.
- Image Credit: Supplied picture
Dubai: The trade show business in the UAE continues to grow even in the face of the global financial crisis.
Gitex technology week, a trade show for the information and communication technology (ICT) industry, which will run next week, has seen 20 per cent growth since last year.
Its organiser the Dubai World Trade Centre has sold out all space for the exhibition and has noted 20 per cent growth in the show.
Research by economic and financial analysts Global Insight shows that the Gulf will spend $73 billion on ICT this year and $95 billion by 2011, a rise of 30 per cent.
The UAE will spend $11.4 billion on ICT this year, and will continue to increase investments, which are expected to reach $14.8 billion by 2011, a growth of almost 30 per cent.
Helal Saeed Al Merri, director general of the Dubai World Trade Centre, said at a press meet: "There has been no negative impact of the global crisis. The number of visitors continues to grow."
He added that there is a high level of underlying growth and spending has not been reduced at all.
"The regional market continues to hold itself up extremely well despite the global unease," he said.
The exhibition continues to bring in more international companies, with the addition of Google, Ericsson, Dell and Seagate Technology this year.
"Many international technology companies are diversifying their clientele portfolio and business offering. They will be capatalising on Gitex as the timley occasion to pursue new opportunities and greater penetration in this high growth region," Al Merri said.
Coping with rising demand for Gitex and space constraints have raised issues for the organiser, which is developing Dubai Exhibition World, a Dh8 billion project creating 120,000 square metres of space dedicated to hosting exhibitions and events.
The project, located close to Jebel Ali Port and Free Zone, is not set to come online until the beginning of 2010.
Al Merri said DWTC will face space issues for exhibitions with a high footfall for another year.
"We've had to squeeze the exhibition space this year but we have the option of extending exhibition space, which we have not used yet," he said, mentioning the reasons being infrastructural challenges and a compromise on customer service.
The show, at the Dubai International Convention and Exhibition Centre, will run from October 19-23. It will be open daily to trade visitors and to the general public on October 23.
The consumer focused show, Gitex Shopper will run from October 18-24 at Airport Expo, with an entry ticket of Dh20.
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