The UAE enjoys a safe business and political climate, and has become the centre of attention for investors and businessmen in the wake of political disturbances in the Middle East and North Africa.
Addressing a gathering of MICE industry in Las Vegas, Mr Saif Mohammed Al Midfa, Director-General of Expo Centre Sharjah, said prudent policy decisions and high oil prices have helped the UAE ride out the global financial crisis in 2008 and the aftereffects of the current slowdown in the debt crisis-hit eurozone.
Mr Midfa was speaking at the International Association of Exhibitions and Events’ (IAEE) Expo! Expo! Annual Meeting and Exhibition, which was held from December 6 to 8, 2011, in Las Vegas.
Mr Midfa told the audience that government policy to spend more helped in creating more jobs, reviving projects and boosting infrastructure facilities in the fields of transport, tourism, health, education and housing.
Presenting growth prospects of the region, Mr Midfa cited recent estimates that project overall development for the economy. The region’s GDP is expected to reach US$ 1.8 trillion in 2015 from US$1.1 trillion in 2010. The per capita income is likely to increase to US$ 38,100 from US$ 26,700 during this period. The GCC population is also expected to expand from 40.6 million in 2010 to 45.6 million in 2015, contributing to rise in demand for products and services from all industrial sectors of the economy.
“In the past, sectors used to be considered for investment, but now geographies are assessed for their stability. Because of global factors, investors are thinking about which are the more stable countries and discount for global, regional factors before committing their money. The UAE has the most politically and economically stable business climate in the region. We are also a young nation in need of expertise and investments to achieve our full potential,” Mr Midfa said.
The findings of the Changing Environment of Exhibitions Study were also released at the event. “The study explores how the exhibition industry is evolving and provides key market insights into opportunities and challenges. The findings document the current and planned use of the full array of available marketing, communications and sales tactics; positioning of B2B exhibitions in this mix; current high priority marketing and sales objectives and perceived value of using B2B exhibitions to achieve them; as well as the factors that drive the decision to exhibit or pull out of an exhibition,” said Mr Midfa, while speaking about the study.
The event attracted more than 2,200 attendees and 266 exhibitors to the Las Vegas Convention Centre, and the excellent attendance was attributed to a number of factors, including a rise in industry optimism.
IAEE’s annual conference included 11 education tracks with more than 130 speakers and 50 sessions over the three-day event. Attendees were given a wide range of topics to learn about including attendee experience development, e-Merge technology, exhibitor solutions, global business development, marketing, operations, professional development, public and consumer event solutions, sales, and specialized programming for both senior executives and young professionals.
IAEE is the largest association of the exhibitions and events industry in the world, with a membership of show organizers, exhibitors and exhibition suppliers. Organizers of more than 20,000 exhibitions and buyer-seller events around the world are members of IAEE.
