Dubai Expo 2020 to strengthen economy by $24 billion

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Dubai Expo 2020 is expected to yield $24 billion or AED89 billion, increasing the overall GDP of the country in different sectors.

Energy Research and development projects

Energy Research and development projects

The event is also expected to create new 277,000 job opportunities and will have a positive and broad economic effect on small and medium enterprises (SMEs). A recent survey was carried out and showed that Dubai’s success to host the expo uplifted the buoyancy for business in the first quarter of 2014, particularly in manufacturing and service firms which received high expectations.

There was an increase of 22.4 points in the indicator from the first quarter of 2013. This year’s points reached 135.5 points in the first quarter and it is said that the upcoming projects brought by the Expo 2020 is getting positive views.

It was announced that the construction of Dubai’s Expo 2020 site will be completed by October 2019. The site readiness will begin early next year on the Dubai Trade Centre-Jebel Ali site. The director general of Department of Tourism and Commerce Marketing mentioned that the country’s geographical setting links it to different parts of the world through a four up to eight hours of flight.

Officials also verified that there were also plans for the extension of the Red Line of Dubai Metro and for the launching of an eco-friendly bus service. Further details were incorporated in the Dubai Expo 2020 progress update.

Mohamed Dekkak