Dubai’s Big Success on Expo 2020 will Robust Economy More

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Dubai World Expo 2020 has been awarded the right to host on it as beating bids from Dubai's Big Success on Expo 2020 will Robust Economy Morethree other cities, the Bureau International des Expositions (BIE) confirmed after a vote in Paris.
Dubai’s bid, Sao Paolo was knocked out in the first round and Izmir eliminated in second round. The decision is expected to provide a significant boost to the United Arab Emirates economy and was welcomed by businesses across the country
The emirate, set aside $7bn in capital spending for the event, and has planned a 4.4-square-kilometre exhibition site at Jebel Ali, close to the emirate’s new Al-Maktoum International Airport.
Dubai Expo 2020 is the first ever world’s fair held in the Middle East and is expected to run from October 2020 until April 2021.
According to the well-respected official, when it comes to business community, there’s a great boost across all economic sectors. It is estimated that the Expo will magnetize 25 million visitors from across the world and create more than 275,000 jobs, and this will significantly boost our economy and help to attract even more investment into Dubai.
“There will be an immediate shot in the arm in terms of economic confidence,” “This will be followed by the planned infrastructure and project investments taking,” as he added.
The hotel and logistics sectors will be the biggest winners, while the residential and retail sectors will also derive significant benefits. Expo 2020 will not benefit all of the sectors of the Dubai real estate market to the same degree
Dubai’s annual gross domestic product (GDP) growth is forecast rise to an average of 6.4 per cent for the next three years, driven by the Expo, and potentially rise to 10.5 per cent to 2020, UK-based bank said.
“Once the event is complete there will also be a strong legacy that the event leaves behind, which businesses will be able to take advantage of,” he predicts.
“While the Dubai real estate market is poised for growth regardless of the expo, the success of this bid will act as the single most important influence on the real estate sector across the UAE in 2014,” as he ended.