Expo 2020
Business Investing UAE

Expo 2020: the biggest event to be held in the Arab world is foreseen to bring significant impact to the UAE economy

Expo 2020 Dubai will increase the UAE economy by AED122.6 billion ($33.4 billion) and provide 905,200 job-years between 2013 and 2031, according to an independent report published by global consultancy EY.

The scale of investment coming in to construct and host an event of this ambition, as well as goods and services consumed by the millions expected to visit and the businesses that will occupy the Expo site in the legacy phase, will result in an economic dividend that will benefit businesses large and small across a range of sectors for years to come, according to the report.

Najeeb Mohammed Al-Ali, executive director of the Dubai Expo 2020 Bureau, said: “This independent report demonstrates that Expo 2020 Dubai is a critical long-term investment in the future of the UAE, which will contribute more than 120 billion dirhams to the economy between 2013 and 2031.

The report also shows that small and medium enterprises, a core component of the UAE economy, will receive AED4.7 billion in investment during the pre-Expo phase, supporting 12,600 job-years.

Expo 2020 expects 30 million visits, with 70 per cent of visitors coming from outside the UAE, giving the hospitality industry with an unmissable opportunity to show the world what the UAE has to offer.

“As the host, Dubai aims to use the event to further enhance its international profile and reputation. The event will celebrate innovation, promote progress and foster cooperation, and entertain and educate global audiences.”

SOURCE

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