EXPO 2020: Boosting the Dubai Economy

The highly anticipated EXPO 2020 is finally due to open its doors in a matter of days. Delayed due to the global pandemic, EXPO 2020 is the latest Worlds Fair to feature a stunning exhibition of international achievement and progress. Scheduled to open on 1^st October 2021 in Dubai the EXPO 2020 is set to be one of the most exciting and inclusive events in the city’s calendar. As well as bringing together collaborative ideas and works from nations all over the world, the EXPO will be a boon for the Dubai economy, resulting in lucrative ripple effects that will benefit new and existing businesses across the UAE. We take a look inside this ground-breaking celebration and the positive impact it has already made.

Inside EXPO 2020

The theme of EXPO 2020 is ‘Connecting Minds and Creating the Future’ and will be weaved through its three districts, sustainability, mobility and opportunity. The sustainability area will explore how to live in balance with the world around us and how the human race can ‘enjoy harmony with nature in a high-tech future’. In the mobility space the emphasis will be on creating smarter and better connections that can foster new possibilities in the movement of knowledge and goods. Lastly the opportunity district aims to ‘unlock the potential within each one of us’ and introduce the audience to the ideas that are already shaping a brighter future with the hopes of inspiring more innovations. There will be 191 country pavilions, endless entertainment attractions and theme weeks including ‘health and wellness’, ‘global goals’ and ‘tolerance and inclusivity’. At its heart, the EXPO will echo the ethos of the UAE that aims to work together with others to build a more connected society that facilitates talent, invention and progress. With so many countries involved and such an exciting programme of activities, the visitor numbers for EXPO are expected to be in the millions, resulting in a huge demand for travel, hotel rooms and local businesses.

The Benefits to the Dubai Economy

Thanks to the record of previous expos and extensive research, the hosting of EXPO 2020 is considered to be a long-term investment for the UAE and one that will add significant benefits before, during and after the event. Prior to the event, the Dubai economy has already seen the impact of job creation and the influx of foreign business and investment looking to capitalise on the upcoming event. Despite having to delay the event, Dubai has been internationally recognised for its unrivalled stability and recovery throughout the pandemic. Their flexible approach, swift preventative measures and generous stimulus packages have enabled many businesses to sustain their continuity and has highlighted the appeal of Dubai and the UAE as a lucrative host for SME’s and start-ups. According to an official report, EXPO 2020 is likely to contribute further to economic growth in some of the following ways:

• AED 122.6 billion gross value to the UAE economy
• AED 40.1 billion investment in infrastructure and assets that will remain in place for future use
• Over 25 million visitors from all over the world, each requiring air travel tickets, hotel or accommodation stays and additional spending in a variety of outlets and attractions
• Key sectors that will benefit will include the events industry, business services, construction, transport and communication, retail, restaurants and hotels, all of whom experienced the negative effects of the pandemic

Since the event will also further elevate the global reputation of Dubai and the UAE, many more international organisations and entrepreneurs will have access to the unique attributes of the nation’s environment and the power of the Dubai economy. 2021 has already seen a sharp rise in the Dubai property market, hotel occupancy and start-up arena, many of which is projected to increase even further during the expo and beyond. This is great news for anyone interested in setting up a business in Dubai, especially when it comes to engaging investment and attracting a new audience. It is quite clear that while EXPO 2020 looks to be an amazing event with the potential to foster global change and progress, it has already begun to accomplish its work as a positive catalyst for the Dubai economy.

If you would like to enquire about how EER can help you with setting up a business, get in touch today on info@eerme.com or call us on +971 4 4211819.