Expo 2020 to help boost region’s economies

Expo 2020 is a six month event which will be held from October 20, 2020 to April 10, 2021 at Dubai Trade Centre, Jebel Ali. It is the first World Expo in the Middle East, North Africa and South Asia (Menasa). Dubai won the bid to host this event last November and this is expected to attract at least 25 million visitors. The economic impact of this Expo is valued to be around 89.89 Billion Dirhams.

This Expo has even more potential for a wider impact up to the event and following the event for years to come as Dubai is located within four hours of a third of the total world population. The infrastructure and operational costs are estimated to be around €6.45 Billion. The onsite construction is expected to be completed by October 2019. Various jobs in fields like tourism, aviation, real estate, construction, transportation, logistics and retail are likely to increase to service the Expo 2020.

In Dubai, during Expo 2020, it is estimated that at least 50,000 more hotel rooms will be required in more than 200 properties, whether it be budget, luxury etc. This may lead to create 100,000 job vacancies in the field of tourism and hospitality.

There will be a tremendous boost in the economy of Dubai valued at $23 billion from now onwards to 2020, while the total receipt from visitors is estimated to reach $ 60 Billion.

A survey conducted by the strategic research company shows that the residents of UAE are very much excited and they expect that the Expo 2020 would have a positive impact on their lives. 95% showed great interest in the Expo, out of which 62% expressed strong interest.

Dubai stays always as an attraction for overseas businesses and with the Expo 2020, it is likely to increase even more. Even though there are still many companies that haven’t invested in Middle East before, Expo 2020 would be a component of any strategy to give Dubai a major place in business world.

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