Abu Dhabi’s Adnec Group delivered Dh7.3 billion worth of economic impact to UAE in 2023
Value of direct, indirect economic contributions increased by 107% compared to 2022
Abu Dhabi: Abu Dhabi National Exhibitions Company (Adnec) said Wednesday that the combined economic impact of its seven business sectors on the Abu Dhabi and UAE economy is set to double, reaching Dh7.37 billion in 2023.
This marks a significant 107 per cent surge compared to the Dh3.56 billion recorded in 2022, representing the highest in Adnec’s history since its inception in 2005.
Humaid Matar Al Dhaheri, Managing Director and CEO of ADNEC Group said, “These record achievements came in line with the group’s commitment to develop and innovate solutions and initiatives aimed at accelerating performance growth rates.|
He said, “We are committed to seizing investment opportunities in its seven business sectors and working closely to achieve added value for all its shareholders and partners in the government and private sectors.”
Adnec Group's accomplishments were possible due to the unwavering support of the wise leadership. Their ongoing efforts aim for desired economic diversification and the promotion of sustainability across economic and knowledge domains. Through its business units, this support has significantly propelled economic development in Abu Dhabi, especially in business tourism—a key focus in the country's future development plans for non-oil sectors.
Seven key sectors
In 2023, ADNEC Group refreshed its identity to strengthen its presence in seven key sectors. These include exhibition centres, event organisations, hospitality, food, event services, hotels, leisure tourism, and media. More than 30 brands work in seven key sectors and business areas.
The group’s exhibition centres have achieved a significant increase in the number of visitors to the events hosted by the Abu Dhabi National Exhibition and Al Ain Convention Centres by 123 per cent compared to 2022, with the number of visitors reaching about 1.78 million visitors compared to nearly 802,000 visitors in 2022.
Since its establishment in 2005, the number of events has doubled in one year to more than 476 events, and the number of events hosted by the Abu Dhabi National Exhibition Centre and Al Ain Convention Centre increased last year by almost 100 per cent compared to 238 events in 2022.
> The group organised 488 events and expands to 8 regional markets
> Tourism 365 records a 270% increase in hotel bookings to reach a total of 170,000 hotel nights
> Group provides over 27 million meals for more than 1,600 events
Job opportunities
Last year, Adnec Group revealed it created 51,400,000 jobs, an increase of 145 per cent over 2022, which amounted to 21,000 jobs in the supporting sectors.
Some of the largest events hosted in the group’s venues include - Abu Dhabi International Petroleum Exhibition, Abu Dhabi International Hunting and Equestrian Exhibition and more.
In 2023, ExCeL London Exhibition Centre hosted more than 300 events, including 15 events held for the first time. The group’s UAE and UK centres have attracted more than 5.3 million visitors worldwide, hosting more than 776 specialised international exhibitions, conferences, and events.
Events management
Adnec Group, in cooperation with the Ministry of Defence, organised the largest session in the history of IDEX and NAVDEX 2023 exhibitions and their accompanying conference. The number of visitors reached more than 132,000, an increase of 114 per cent compared to the 2021 session.
The World Media Congress, organised in cooperation with the Emirates News Agency (WAM), saw 23,924 visitors, an increase of 76.5 per cent over the first session. The company also organised the Abu Dhabi International Boat Show, the second edition of the Abu Dhabi International Food Exhibition, and the Abu Dhabi Dates Exhibition.
In the hotel segment, Adnec acquired a share in some hotels, such as Shangri-La Bari Village, Fairmont Bab al Bahr, Park Rotana Abu Dhabi, and Traders Hotel Bari Village.
In cooperation with the ADQ, the group also announced the acquisition of 40 per cent of Talaat Mustafa’s Icon Group, which includes 15 luxury and heritage hotel assets in Egypt. In 2023, the group’s hotels received more than 681,000 visitors.
In hospitality and food, the group’s companies provided more than 27 million meals for more than 1,600 events and services to 13 airlines operating through Abu Dhabi International Airport, in addition to the services provided to eight hospitals operating in Abu Dhabi.
Tourism boom
In 2023, the group acquired the French tourism group Karavel, with which it strengthened its presence in Britain, France, Germany and Jordan. 365 Tours also launched its first daily charter flights from three German cities to Abu Dhabi in the last quarter of 2023.
The percentage of hotel bookings also increased by more than 270 per cent to 170,000 hotel nights in 2023 compared to 46,000 hotel nights nationwide in 2022. The company also organised more than 115 cruise trips during 2023 compared to 83 in 2022, an increase of 39 per cent.
In the media sector, through TwoFour54, the company announced plans to open two new destinations to serve specialised creative communities in Abu Dhabi, which are scheduled to be launched over the next three years. This will provide the largest network of studio facilities in Abu Dhabi.