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Expo 2020 is expected to change the UAE economy

04 June, 2019 By Dhruti Thakkar

 

Dubai has given a whole new definition to the word ‘grandiose’ by assuring the success of upcoming event mammoth World Expo 2020. This event will last for 6 months scheduled between October 2020 to April 2021 and will be based on the theme ‘Connecting minds, Creating future’. For the first time in UAE, this will bring together innovation, traders and products around the globe.

The UAE government is organizing and taking care of the full event and has invested a substantial amount of money to ensure that Expo 2020 takes place without a glitch. For UAE, hosting this exhibition at this magnitude gives the nation unmatchable business opportunities to foreign investors. It is expected that the event will call forth entrepreneurs which will lead to a raise in the country’s economy.

Analysts believe Expo 2020 will mainly affect industries like real estate, construction, tourism, hospitality, food chain, fashion and others.

Here are some of the key aspects of Expo 2020:

  • According to Reem Al Hashimi, MD of Expo 2020 Executive Body, Dubai’s Expo 2020 is expected to yield $24.2 billion in revenue;
  • The cost of Dubai Expo 2020 is estimated at $9 billion, which makes it the most expensive world’s fair ever;
  • Expo 2020 will provide 277,000 new job opportunities and will have a positive impact on small and medium enterprises (SMEs);
  • The UAE government has predicted that revenue up to $17.7 billion will be generated if the Expo is a success, which organizers feel is certain;
  • Some analysts have predicted that by 2020, UAE could garner as much as $150 billion in foreign direct investment in sectors such as real estate, hospitality, and tourism;
  • The 25 million figure is in line with past expos – what’s never been done before is having 70% of the attendance comes from outside of the host country;
  • For the Expo, Dubai is constructing a massive new city area over 1,082-acre. This project itself has generated 15% new jobs in the city. The figure is expected to double as the time gets closer to 2020.


This could be a great time for you to invest in UAE. If you are looking for an expert advise, visit www.doingbusinessdubai.com or just drop us a line on incorporate@nrdoshi.ae. We will be happy to assist you.

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