Dubai Expo 2020 and its impact on UAE Economy
Since the UAE won the bid to host the Expo in 2013, it has hugely invested in building infrastructure for the well-hyped world event. The District 2020 – the site of the Dubai Expo 2020 – has been under construction for years. Although many features are temporary, 80% of the infrastructure will become permanent after the Expo. This District will serve as the hub of business and tourism in the future. Thus, Dubai, which previously was famous for its tourist attractions and shopping sprees, will now have a dedicated space where the world’s business will converge.
a whopping 190 countries will be participating in the Dubai Expo 2020. it was estimated before the pandemic that around 25 million people will attend the Dubai Expo 2020. The experts argue over the numbers since after the pandemic but agree that millions of people will still be coming to witness this historical event that is set to steer the world in a new direction. It will directly influence the tourism industry and its allied fields of aviation, hospitality, transport, and a lot more. What is even more interesting is that the Dubai Expo will not only be attracting people towards itself, but the timings of its setting will be beneficial for other attractions: the Global Village, the Miracle Garden, and the Glow Garden, all of which are set to be open to the public in October 2021 and will bring unprecedented revenue for the economy.
Dubai has always been the dream destination for aspiring employees. The Expo, in particular, will create 300,000 jobs. It means millions of people will find their dream opportunity in this emirate set to be the future of business and employment.
It is not just the multi-national, billion-dollar business that will benefit from this world event, but the small business will get their well-deserved attention too. With all eyes on Dubai, even small businesses will have their share of the limelight. Opportunities for the new businesses to establish will increase while existing businesses will flourish through several investment opportunities.
The District 2020 is expected to retain 80% of its infrastructure into a permanent hub for business and affordable housing. The Real estate sector will flourish through rental or ownership-based dealing for people who wish to look for a new home in the world’s business hub.
The well-anticipated Dubai Expo 2020 will be a turning point for UAE’s non-oil, tourism-based economy. This event will be a turning point in several areas of growth for every small or large-scale industry. The organizers of the Expo are hopeful of the sustainable and multi-fold opportunities and benefits the Expo is expected to bring, and have their fingers crossed for an event the world will remember for years to come.
As a renowned accounting and auditing firm, Bader Saleh Auditing of Accounts is optimistic about the opportunities the expo will bring. Every new business that will establish after the expo is welcome to avail of our consultation services that will benefit a business greatly.
