Expo 2020 Dubai has been called a “triumph” and will boost the UAE economy by more than $42 billion.The World Expo was a major success, drawing more than 24 million visitors and generating 35,000 new employment annually for decades to come. According to an EY research, the best is yet to come.
Dubai Expo 2020 victory
According to an EY estimate, from 2013 to 2042, Expo 2020 Dubai and its legacy are anticipated to bring AED 154.9 billion ($42.2 billion) in gross value added (GVA) to the UAE’s economy.Throughout the course of its six-month run, the World Expo attracted 24.1 million visitors and is projected to generate 1,039,000 full-time equivalent (FTE) job-years, or more than 35,000 FTE jobs annually in the UAE.
The Industries with the largest contributions to GVA, a metric of economic production, are:
- Business Services and Event Planning (AED 75.5 billion/$20.6 billion)
- Building (AED 31.9 billion/$8.7 billion)
- Inns and Hotels (AED 23.1 billion/$6.3 billion)
- Almost one-fourth of the GVA was provided by the pre-event phase, nearly one-third by the event itself, and six-in-ten (62%) of the economic advantages would be realised in the legacy phase through 2042.
Legacy concerns were at the centre of planning from the start, and more than 80% of the infrastructure constructed for the six months of the event is reused in Expo City Dubai. It is a crucial component of the Dubai 2040 Urban Master Plan and the emirate’s continued development, and it carries forward the spirit of teamwork that underpinned Expo 2020 Dubai through the ongoing delivery of initiatives, programmes, and events that will attract guests, businesses, and tenants to increase the impact and economic value.
The 192 participating nations reported benefits in terms of commerce and economic alliances, nation branding and cultural understanding, as well as International diplomacy and collaboration. More generally, research has revealed that Expo 2020 Dubai inspired progress on a worldwide scale.
As part of its ongoing transformation into a smart, sustainable, and people-centered city of the future, Expo City Dubai will also bring its own projects on board and recently unveiled new ideas for residential buildings.
The Middle East, Africa, and South Asia region’s first World Expo, Expo 2020 Dubai, was hosted there and symbolised a commitment to creating a better future for all people by fostering international collaboration and enhancing the UAE’s standing in the world.
