This month Dubai will host a significant international event - the Annual Meeting of the Board of Governors of the World Bank and The International Monetary Fund will be held in an Arab country for the first time since the annual meetings began in 1946.

    For the last three years Dubai has been gearing up to welcome more than 14,000 delegates, among them finance ministers and central bank chiefs from all 184 member countries of the IMF and the World Bank. As well as finance chiefs and business leaders, representatives of more than 50 Non-Governmental Organizations (NGOs) are invited to attend the meetings to enable their voices to be heard as part of the policy-making process.

    The preparation for the event, Dubai 2003, has brought together leaders from the public and private sector with the objective of hosting the best ever meeting of this kind. Emphasis has been focused on hospitality, security and infrastructure. One of the biggest investment has been the purpose-built US$ 175 million (Dh 650 million) Dubai International Convention Centre with a capacity of 6,000 people in the main auditorium, which will be the venue for the meetings, and also will enable Dubai to market itself as a future host for similar global conventions, conferences and international events. In addition, a state of the art press centre with 400 seats will be available for the international press. The Dubai 2003 Technology Committee has put in place a world-class communications and technology network to make sure that delegates, press and other visitors get the best possible means of communication. With assistance from Etisalat a wide range of high tech communications equipment and solutions has been made available within the Convention Centre.

What will this event bring to Dubai and the United Arab Emirates? 

    Increased investment opportunities in the region and strengthening of trade ties are being cited as the main long-term benefits of the meetings being held in the UAE, but they are also immediate benefits trough the direct spending of the massive influx of visitors – with more than 10,000 hotel rooms in the city booked for the 10 days of the event by the organizing committee. The city will for a few days be in the whole world press’ focus; all major newspapers, radio stations and economic press will be reporting from the event- not only from inside the conference centre and what the delegates are saying and doing, but also everything related to the city of Dubai, development, infrastructure, hospitality, security and level of technology. This will be the golden opportunity for the private and public sector to showcase to the world their capabilities to handle an event of such magnitude, and present their offerings of products and services. Emirates Airlines will be the main carrier for the delegates, and the Dubai International Airport, with its state of the art technology is fully prepared to bring the delegates and other visitors through its facilities, into buses, taxis and limousine services for transportation to the hotels in a smooth and efficient way.

    More than 20 selected luxurious hotels will take care of the main delegates, and all other hotels are fully booked with other visitors for the meeting. The estimate is that there will be a direct investment boost of US$ 45 million, generated trough spending on hotels, restaurants, transportation and other areas. Millions of dollars worth of additional business is projected to be generated from the ripple effect of the meetings-repeat visits, word-of- mouth referrals and increased global awareness of the UAE and the region. The staging of international event of such importance in the UAE also presents an ideal opportunity to challenge and address misconceptions about the region and show  ‘the true face’ of the Middle East.

    Dubai has already a significant place on the world map as a trade, technology and a financial hub. The importance of the emirate will definitely increase in the future, and it will be also seen and used as a role model for other countries and economies in the years to come.

Khalaf Al Habtoor