How Expo 2020 in Dubai will bring a transformation to the UAE’s economy
Expo 2020 in the Dubai, UAE
Benefits of Expo 2020 in the UAE
Thus, Expo 2020 UAE offers a great opportunity for people from different walks of life. Amid the pandemic that resulted in economic losses to several countries, it is a respite. It is a big chance for UAE to show the world its efforts despite the pandemic.
UAE won the right to host Expo 2020 in 2013. Since then, the government has worked tirelessly to develop all necessary resources. A six-month event is not easy to host and run. But, UAE has made all the efforts to make it a success online as well as physically.
Even for the UAE, it is an opportunity to put its country and facilities on display. People will get to know how advanced UAE is and what it has achieved. The country’s future plans will also be in the limelight. It will bring more businesses, entrepreneurs, and tourists to the country.
Changes in the Expo 2020 due to the Covid-19 pandemic
Impact of the Expo 2020 on different industries of UAE
Any major event such as Olympics or world expos requires good infrastructure. The Dubai Expo 2020 also led to quite a large number of infrastructure projects. The country has spent a huge amount of money on construction activities.
The Expo 2020 is also a starting base for many new and innovative technologies. It may also lead to the commercialization of some existing technologies. Some of the big technology investments in Expo 2020 include:
The biggest growth due to Expo 2020 will be in the tourism industry. It will attract millions of tourists and visitors from outside UAE during the six-month period. The demand for special Expo visits, desert safaris, and sightseeing tours will rise.
Even the airport pick up and drop facilities will be in huge demand. There will be many visitors flocking cafes and restaurants. So, government and private sector must make these services better and efficient. The existing providers must find ways to attract more and more tourists.
The government has spent a lot on the hospitality sector. It has developed many hotels and added several rooms to the existing hotels. The hotels have also added extra and better facilities to attract visitors. Many other residential projects have been built to provide necessary accommodation to participants.
Since there will be many participants in the Expo 2020, there will be a huge demand for food and drinks. Also, the Expo includes events for exploring international and local cuisines. The demand will increase and the supply market will up the game to improve their services. This is a great opportunity for the food and beverages industry to give a boost to their earnings.
The Expo 2020 of Dubai includes many entertainment events. Dance events, music shows, street festivals, theme parades, and stage shows will be the highlight. There will be similar other entertainment programs during the six-month duration.
This will give a rise to the demand for the services of events and entertainment companies. These companies will also cater to the other entertainment demands of tourists. Hence, we can expect a rise in their growth.
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The demand for the energy sector has also seen a rise in UAE. This is because the entire new infrastructure built for the Expo requires electricity. This has already led to a rise in demand for energy. The energy sources may be solar, coal, or nuclear.
The government expedited the development of power projects across the country. This was done to meet the rising energy demands of the country. The Dubai Expo aims to source the energy demands from renewable sources. This will ensure compliance with sustainability expectations from a country.
There are a lot of infrastructures being built for Expo 2020. For smooth functioning and running, they will require services frequently. These facilities will need repair and cleaning at regular intervals. This will result in a rise in the demand for services such as cleaning, plumbing, and electrical.
With the development and increased spending in all of the above industries, growth is imminent. Especially, the non-oil-based economy will get a major uplift because of Expo 2020. Because of the spending by the government, participants, and tourists, the country’s earnings have risen.
UAE will continue to see a rise in earnings until few years after the Expo. Hence, it will result in the economic growth of the UAE. This will lead to an increase in the country’s GDP, which was affected negatively due to the pandemic.
Furthermore, government restarted many projects that were paused mid-way due to some reasons. The government spent more money on it and completed them before the expo. This will give rise to project opportunities for the private sector as well.
Also, the country will see a rise in employment opportunities due to the Expo. The development seen in the country in the run-up to the Expo has already created many jobs. There will also be new roles being defined after the Expo. Numerous jobs across different sectors will also contribute to GDP growth.
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So, grab this opportunity and build your business in UAE. You will have the chance to participate in the Expo and get your business some exposure. For any assistance in forming a company, we are there for you.
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Yes, there is a multitude of activities planned during the entire six-month duration of the Expo. Some of these activities include theme weeks, Programme for the People and Planet, and sustainability activities. These activities will revolve around:
- Climate change
- Ways to protect our Planet Earth
- Building more tolerant and inclusive societies
- Health and wellness activities
- Sustainability goals
- And many others