ADNEC Group’s economic contribution in 2023 tops Dhs7.4bn

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UAE’s ADNEC Group said its economic contributions to Abu Dhabi and the UAE surged by 107 per cent to reach Dhs7.37bn in 2023 from Dhs3.56bn a year ago, the largest in the group’s history since its establishment in 2005.

“These record achievements came in line with the group’s commitment to develop and innovate solutions and initiatives aimed at accelerating performance growth rates and seizing investment opportunities in its seven business sectors,” said Humaid Matar Al Dhaheri, managing director and CEO of ADNEC.

The group owns and operates three prominent international venues, including the Abu Dhabi National Exhibition Centre, the Al Ain Convention Centre, as well as the ExCeL London Exhibition and Convention Centre in the UK.

Last year, the Abu Dhabi National Exhibition and Al Ain Convention Centre welcomed 1.78 million visitors, up 123 per cent from 802,000 visitors in 2022.

Similarly, the ExCeL London Exhibition Centre hosted more than 300 events in 2023 including the Formula E and the Olympia London International Horse Show, with 15 events being hosted for the first time.

ADNEC said other international events, and exhibitions attracted more than 3.5 million visitors from different countries.

The group also said the number of events doubled in one year to more than 476 events since the founding of the group, with events hosted by the Abu Dhabi National Exhibition Centre and Al Ain Convention Centre increasing by 100 per cent compared to 238 events in 2022.

With this figure the group’s centres in both the UAE and the UK attracted more than 5.3 million visitors from all over the world, hosting more than 776 specialised international exhibitions, conferences and events.

ADNEC advances economic diversification

The tourism sector is playing a significant role in promoting Abu Dhabi as a vibrant tourist destination, offering personalised travel experiences as well as organising special events.

ADNEC Hotels received more than 681,000 visitors in 2023. The division fully owns seven prestigious international hotels including London ExCeL, DoubleTree by Hilton, Aloft ExCeL London Hotel, Aloft Abu Dhabi Hotel, Andaz Capital Gate Abu Dhabi and Anantara Sir Bani Yas Island Abu Dhabi.

The group teamed up with Abu Dhabi wealth fund ADQ in January to acquire a 40.5 per cent stake in ICON, the hospitality arm of Egypt’s Talaat Moustafa Group, a deal that will see the two entities take part ownership of several luxury hotels including Four Seasons properties in Cairo, Sharm El Sheikh and Alexandria as well as the Kempinski Nile Hotel in Cairo.

The group’s hospitality and food division provided more than 27 million meals in 2023 and served 13 airlines operating through Abu Dhabi International Airport.

Read: ADQ, ADNEC Group to acquire 40.5% stake in Egyptian hospitality company