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Dubai Expo 2020

The expected impact of Dubai Expo 2020 on the UAE economy

The global center stage belongs to Dubai and the UAE for the next few months, throughout the duration of Expo 2020 Dubai, termed as one of the biggest global events ever by many. This universal extravaganza of technology, business, connectivity, and showbiz already got underway in a spectacular style and is expected to bring millions of visitors from all over the world over the next few months. The Expo 2020 Dubai will further cement the UAE’s place as a key global player in a number of fields, showcasing its strengths to the world and attracting not just tourists but business investments as well. It is no exaggeration to say that the Dubai Expo will have a telling effect on real estate, tourism, investment, construction, and many other sectors of the UAE economy. Surprised? Don’t be. Here are some statistics (from Arab News) that prove just that.   Expo 2020 Dubai will boost the UAE’s economic activity by a whopping USD 33.4 billion It will support no fewer than 905,200 full-time equivalent job-years The economic activity during Expo 2020 Dubai (October 2021 to March 2022) is expected to equal 1.5% of UAE’s total GDP Restaurants and Hotels spending will increase by USD 3.1 billion Spending in the SME sector will go up by USD 1.3 billion Event organization and business services are expected to see a growth of USD 18.8 billion The construction sector is likely to see an impressive growth of USD 7.35 billion The message from economic pundits is loud and clear. In particular, the tourism and construction industry will receive a shot in the arm, thanks to Dubai Expo. The authorities believe, and not without reason, that Expo will boost Dubai’s attractiveness as a prime destination for not only tourists but also expatriate workers. Besides targeting 25 million visits to this global event itself, experts believe Dubai will see around 23 million tourist arrivals by 2025. To put things into perspective, Dubai recorded 16.7 million visits in 2019, so we are talking of an increase of roughly 33% in six years. This massive, expected inflow of tourists has incited the DTCM (which stands for the Department of Tourism and Commerce Marketing) to prepare a large number of events and attractions that will surely wow visitors and keep their families entertained. Now, let’s see what the Expo’s impact will be on a couple of important sectors. Real Estate: Since the announcement of Expo 2020, government-led projects have increased significantly in Dubai. Smart cities, improved infrastructure, and the District Expo 2020 will all transform the real estate sector for the better. On another hand, property sales and rental prices have already increased in the second half of 2021 and this was mainly due to an rise in demand by residents, investors and short-term visitors. After this event, real estate prices are expected to stabilize. For this purpose, authorities have come up with a detailed plan. So, even after the hundreds of thousands of tourists have left, the real estate market is likely to continue to grow and be able to avoid market fluctuations. Investment: Did you know that Dubai has invested 8 billion USD in the 2020 Expo? While this is not a meager sum by any stretch of imagination, when compared to the potential revenues from the event, it does look small. Experts have forecasted that direct revenues from Expo 2020 will easily reach 16 billion USD. Also, by the end of 2031, Dubai Expo 2020 is expected to contribute a whopping 33 billion USD to the UAE’s economy. Other industries expected to move to the next level thanks to Dubai Expo 2020 include conferences and exhibitions, transportation, communications, storage and of course hospitality. After Expo 2020 — What to Expect? The District 2020 (which is also referred as the Expo site) is all set to become an important hot spot for economic growth. Because this region has affordable housing, it will go on to become the nerve center for tourism and exhibitions. The Dubai Expo 2020 will make the city one of the most attractive places to visit and live, boosting the country’s overall attractiveness. So, while the event itself is for just six months, it will continue to have a positive effect on the UAE’s economy for many years to come.

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Dubai expo

The top Expo 2020 attractions you don’t want to miss

If there was any doubt before, by now it should be clear to all that Dubai likes to do things bigger, bolder, and better. If the marvelous opening ceremony is any indication, the Dubai World Expo 2020 is likely to be one of the best global events ever. With that said, here are several major Expo 2020 attractions you wouldn’t want to miss: 1. Al Wasl  Dubbed as the beating heart of Expo 2020, Al Wasl Plaza is probably the biggest attraction of this truly global event. At roughly 130 meters wide with a colossus dome which is almost 67 meters tall, Al Wasl is not an ordinary building. As a matter of fact, the dome doubles up as a 360-degree projection surface. That said, it’s not just the exterior of Al Wasl that’s amazing — it offers you six marvelous shows, five of which are scheduled to run daily. Here are some Al Wasl Plaza shows that you wouldn’t want to miss for anything in the world: Global Awakening: As you walk leisurely through the Al Wasl Plaza’s garden early morning, you will hear the sounds of the Earth coming slowly back to life. This is the very first show of the day and it nicely sets the tone for what to expect throughout the day. Global Awakening is a show that everyone will be able to enjoy. National and Honor Day Ceremonies and Cultural Performances: Want to learn more about different cultures? Well, this is your opportunity. Grab it with both hands. With this event, all the participating countries — 192 in total — get a chance to showcase their traditions and culture to a global audience and celebrate their uniqueness. Expo Young Stars: You may have heard the saying: “Today’s Students are Tomorrow’s Future.” Well, 2020 Expo Dubai fully recognizes this age-old maxim. For this reason, Al Wasl Plaza has created this limited-time event in which students from different parts of the UAE will meet and share their stories, experiences, and dreams through dance and song — all choreographed, directed, and written by them. Come and be a part of their journey and we bet you will soon be rooting for your success as you watch their heart-moving performances. Music in the Gardens: Love music? If so, this is one event you wouldn’t want to miss. Daily from 3pm onward, musicians from all over the world will showcase their talents. There’s something to look forward to for all music lovers because the event features live music of all genres, such as classical, world fusion, pop and more. Awakening of Al Wasl: Tipped as many as the most mesmerizing events of all, Awakening of Al Wasl tells the story of humanity. Come to hear and watch the enchanting Arab tales, as well as tales from the natural world, the infinite cosmos, and our constant stride towards technological advancement. 2. Firdaus Orchestra Oscar-winning composer and music sensation A.R. Rahman has created an ensemble of 50 musicians — all of them women — from 23 Arab countries. The concert begins on 23rd October and aims to celebrate the culture, diversity, and artistic power of this part of the world. This all-women orchestra, composed of highly talented musicians, with Yasmina Sabbah as its conductor, wants to demonstrate how music is for everyone and accessible to everyone. The inaugural performance will also feature some of the top compositions of A.R. Rahman. 3. Women’s Pavilion Expo 2020 Dubai’s Women’s Pavilion shines a light on how women have contributed to the world. It also emphasizes that to achieve true global progress, sustainability and peace, this can only be done through the equal and full participation of women. The Pavilion brings together female architects to filmmakers and serves as a global platform for promoting gender balance. 4. AI-powered, multi-sensory food experience If you are a food enthusiast, you will enjoy the innovative culinary experience that Dubai Expo 2020 offers. Featuring more than 50 global cuisines, served at nearly 200 outlets across the site, the Expo will keep foodies busy and happy. Highlights include award-winning chefs, UAE’s most famous local eateries, and “Future of Food: Epochal Banquet.” Imagined by highly-talented UK design studio Bompass & Parr, Future of Food is a 3-course immersive dining experience exploring how AI will shape the future of dining.

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