In 2013 Dubai first heard the news that they won the privileges of hosting world expo 2020. It was the celebratory mood that the entire city experienced on that day. As now the event is getting closer with 2019 drawing to an end, a lot has been spoken about the impact Expo 2020 will have in the region. It is being said by many experts that the country will be forever changed by this event.
Investment options are expected to rise in the New Year. It is expected that with Expo 2020, investors in the form of new companies, new businesses, startups and corporations are likely to be interested in investing, relocating and setting up in the region. The Government of Dubai has already invested an extraordinary $8.7 billion for the event. Once the event is completed in 2021, this money will benefit the country. The UAE is expected to attract up to $150 billion spread across multiple industries ranging from hospitality, real estate and tourism.
Hospitality and tourism will see a massive boom in 2020. These two sectors will be the most impacted purely because of the millions of visitors planning to visit Dubai in the New Year. The industries will experience huge revenue with good quality hotels and accommodation being in close proximity to the location of the event. Dubai will see long-term investments take place in 2020. It is bound to impact the economy significantly and see a rise in the job market also. The event will also help Dubai make an impact in the global market. It is will enhance its reputation and international profile. Expo 2020 will be a legacy that will be remembered by Dubai for decades to come.
With Expo 2020 coming home, Dubai will be splurged with tourist who would need accommodation. 71% of the 5 to 10 million visitors who are expected to visit Expo 2020 will be non-domestic visitors. The economic impact in the aftermath of the event will be even more consequential to Dubai, than the economic impact during the event and leading up to it. Over 70% of them international visitors - during the six-month event, the impact will be much more far-reaching. With its central geographic location, world-class infrastructure and the highest standards of safety and security guaranteed, Dubai is poised to impress the visitors, leading to the arrival of more professionals and entrepreneurs to the city. With the current focus of property developers to offer competitive deals, through easy payment plans, will further incentivize more people to invest in own homes – helping build one of the most competitive real estate sectors and creating long-term value for investors.
World Expo 2020 will encourage millions of people to visit the city, including people who have not had an interest in the past, to make their way to the Middle East and reconsider their travel options. It is the third biggest global event, right after the Olympics and the FIFA World Cup. This will stimulate tourism and ensure that the UAE remains a top-class destination for investment, business and leisure.