How Expo 2020 will affect the UAE Economy

How Expo 2020 will affect the UAE Economy

In terms of cultural and economic influence, the World Expo is the world’s third largest event after the Olympics and the FIFA World Cup. World Expos usually have a long-lasting impact on the host city. It will be fascinating to see what changes Expo 2020 will bring to Dubai, a city that already has change written all over it, changing nearly unrecognizably every few years! Meanwhile, even as the city prepares to celebrate human culture and progress for six months, Dubai Expo 2020’s economic impact is already noteworthy!

The Economic Impact of the Dubai Expo 2020

Infrastructure : Typically, the Expo host city spends a lot of money on infrastructure. Shanghai, which hosted Expo 2010, spent around $40 billion on projects such as six extra metro lines, highways, tunnels, bridges, and bolt rail, among others. In terms of infrastructure, Dubai Expo 2020 is likely to have a similar impact. Over $ 8 billion is thought to have been spent on infrastructure around the Expo 2020 site, which includes a 480-hectare space with its own state-of-the-art setup.

Employment: An event of this size and scope creates a large number of job openings. According to MEED Reports, 277,000 jobs would be created in the build-up to Expo 2020. Construction accounts for 60% of these, with tourism, travel, and leisure accounting for 40%.

Tourism: Expo 2020 is anticipated to draw more than 25 million visitors. The corresponding plans are part of Tourism Vision 2020, and they feature a huge capacity increase. Up to 100,000 new hotel rooms, including some in new premium hotels, will be available by the time the event begins. Several attractions will be put on by the Department of Tourism and Commerce Marketing (DTCM) to help enhance tourism.

There has never been a better time to Start Your Business in the UAE, with Dubai Expo 2020 just around the corner and various UAE government measures in place to stimulate business.

Source: MBG”

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