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2021-06-03

Dubai’s Events to Prompt Growth for Business Community

Dubai opened its borders to welcome international tourists on July 7 last year, in a mark of its resilience amid the COVID-19 pandemic, and in a broader attempt to reposition itself as regional tourism and economic hotspot.

Before welcoming visitors through its international airport, Dubai received the Safe Travels Stamp from the World Travel and Tourism Council, validating the measures undertaken by the emirate to ensure the safety of inbound travellers.

This was followed by the gradual return of industry-specific events to the emirate, after business amounting to between Dhs2.8bn and Dhs5.5bn was lost due to the pandemic prompting the closure of the events industry, a survey by International Live Events Association (ILEA)’s crisis committee, revealed. All events in Dubai were halted in late March as part of a series of steps undertaken to stem the spread of COVID-19.

However, the resumption of live events across the emirate was furnished with the adoption of responsible practices and held under stringent precautionary measures instituted by relevant authorities.

2020 closed on a positive note for Dubai, as it held the region’s biggest in-person technology event, lending support to its attempt of restarting its events space and relaunching vital communication channels. This was followed by other industry-specific events spanning the fields of F&B, art, etc.

Greater Connectivity

Dubai Airshow will host its 2021 edition as an in-person showcase, bringing together experts and participants from commercial and business aviation, defence and military, aircraft interiors and air traffic management verticals, among others. Having hosted 84,043 trade visitors, welcomed 1,200 exhibitors and recorded over US$54.5bn in signed orders in its 2019 edition, this year’s event will focus on emerging technologies, start-ups, and future transport and sustainability.

The 17th edition of the Dubai Airshow will not only be a cynosure for aerospace professionals but will also aid in the recovery of the industry. After a difficult last year, the global aerospace and defence (A&D) industry revenue is expected to begin recovery in 2021.

More so, the in-person events industry is also expected to pick pace as participants are willing to go the extra mile for greater connectivity. A recent survey of visitors and exhibitors of the Dubai Airshow revealed that both group of participants – who experienced a virtual event – rated live events higher across key metrics. Visitors chose live events for multiple reasons, from the quality of networking and educational content to finding new suppliers and doing business. Meanwhile, in-person events scored higher among exhibitors based on core attributes such as ROI (return on investment) and brand representation, among others, the survey unveiled.

A multitude of participants are also willing to undertake long-haul travel to attend in-person events, as a further stamp of approval – 52 per cent of exhibitors and 34 per cent of visitors are willing to go the distance (intercontinental travel) for events this year, the survey further revealed. Furthermore, 77 per cent of exhibitors plan to exhibit at the Dubai Airshow in November.

On the Road to Recovery

The commercial aerospace sector is expected to recover slowly, as travel demand is not expected to return to pre–COVID-19 levels before 2024, but the defence sector is expected to remain stable in 2021, according to a Deloitte report.

“In 2021, defence budgets and revenues for defence contractors are expected to remain largely stable, as military programmes continue to be critical to national defence, especially considering geopolitical tensions. Global defence spending is expected to grow about 2.8 per cent in 2021, crossing the US$2 trillion mark. Countries across the globe continue to spend on strengthening their militaries as geopolitical tensions intensify despite the global pandemic,” the report read.

Meanwhile, deal activity is likely to recover in 2021 as aerospace and defence companies seek long-term growth, the Deloitte study further revealed.

Meanwhile, the Deloitte report also suggested that long-term growth prospects for the A&D industry remain strong and that the space sector and technological developments, such as advanced air mobility, hypersonics, electric propulsion, and hydrogen-powered aircraft, are likely to drive future growth for the industry.

In line with the rising trend of emerging technologies within the aviation sector, Dubai Airshow 2021 will offer a platform for showcasing cutting-edge technologies. Sectors including blockchain, global mobility, sustainability, cybersecurity, and 5G technology, among others will be facilitated by various activities at the aerospace event.

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