Dubai Expo 2020: What Dubai’s economy can expect
Organizers are expecting an estimated 25 million visitors during the six-month period
Within 20 days from now, Dubai’s South District will be the destination where every path will lead. The world’s greatest show World Expo is to be hosted by Dubai in the UAE, which was originally scheduled for October 20, 2020 – April 10, 2021.
Nevertheless, due to the worldwide pandemic COVID-19, the new dates are October 1 – 31 March 2022. Dubai Expo 2020 will be providing the opportunity to explore 191 countries in one place hosting the world for 182 days. Here each day is going to be filled with new experiences, it’ll be an opportunity to craft, collaborate and innovate on a global platform.
This mega cultural fest is the greatest global event since the outset of the pandemic. Expo 2020 Dubai is the first world exhibition being held in the Middle East, South Asia and Africa. Underneath the theme ‘Connecting Minds, Creating the Future’, it aims to bring together ideas, people and nations from across the globe under one platform to motivate innovations and growth on a global level.
Delayed by a year, the Expo promises to be a bigger and better experience for visitors. Organizers are expecting an estimated 25 million visits throughout the six-month period between October 1 and March 31. With rigid Covid-19 preventive measures, UAE is going to provide a secured environment. Positioning the UAE among the top 5 nations in vaccine distribution rate, 90 per cent of the population has been vaccinated against Covid-19 in the UAE.
Impact on Dubai’s Economy
The World Expo has historically generated the path for strong economic growth and impacted the GDP positively within its host country, but for the UAE, Expo 2020 holds even bigger significance as Dubai becomes the first ever city to host such an extensive international event in the MENA region, making it a long-term investment in the future of the UAE.
A most important question surrounding the Expo is whether the benefits of hosting the event will persist once the Expo is over. The driving force behind the ‘long-lasting legacy’ is that over 80% of the Dubai Expo 2020 site will be reused, and focus will be on infrastructure and cutting-edge technology within four major industries i.e. real estate, education, tourism, and transport & logistics.
The conference center and exhibition will also become a major event venue for Dubai, and there will be enormous retail outlets and residential communities. Expo 2020 would also have a substantial effect on start-ups and SMEs, as these companies will get worldwide exposure. The Expo 2020 is anticipated to attract 25 million visitors, out of which 17 million will be international. Hence, during its tenure of six-months it will clearly provide a great boost to the tourism and hospitality industries. The government of the UAE is expecting revenue of up to $17.7 billion provided that Expo is a success. The Dubai 2040 Urban Master Plan affirms that District 2020 (the Expo site) will become a major growth destination for economic growth.
The international event in Dubai will undoubtedly create significant changes in terms of both opportunities and challenges when it comes to most industries and market sectors across the UAE. The Expo 2020 will provide considerable opportunities for business and economic growth in the UAE, in the build up to and beyond the event.
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