Expo 2020 would grow finance sector

The UAE finance sector would be boosted if Dubai is successful next month in its bid for the Expo 2020, one industry finance leader told Gulf News.

Abu Dhabi Security Exchange (ADX) Chief Executive Rashid A Al Baloushi, said the finance sector would see direct and indirect from the benefits because of the increase in projects.

“Hosting the Expo means more infrastructure developments and more liquidity into the economy. We would expect an increase in employment and more products and goods to become available,” he told Gulf News in an exclusive interview on Dubai’s Expo bid.

UAE residents and business leaders are gearing up in anticipation in the lead up to the winning host city to be announced next month. But Al Baloushi said it is not just about Dubai and the UAE.

“The impact of the Expo is not just going to be seen during the event, but before and after as well. The whole region will be able to take advantage of that and put the spotlight on regional investment,” he said.

According to Al Baloushi, the UAE and Dubai’s multiculturalism and awareness of international culture and customs makes the emirate “unique.”

Current estimates peg that 25 million visitors would head to Dubai if it was to host the Expo 2020, giving ample opportunity for exposure and development in other parts of the country.

“If you look at the amount of people that could visit the UAE as part of the Expo you will see investment being made across Abu Dhabi, Dubai, Sharjah, and the Northern Emirates,” Al Baloushi said.

Ultimately, Al Baloushi sees the Expo bid as a feather in the cap of Dubai, the UAE, and all Emiratis.