Expo 2020 Targets Uplifting Of Dubai’s Economy In Upcoming Years
Dubai will be hosting the Expo 2020 under the aegis of The Bureau of International Expositions, comprising of 167 member nations who voted in favor on November 27, 2013 in Paris. Dubai making a last minute entry competed against four cities of the world to emerge ultimately as the hosting country for Expo 2020. Dubai and the Emirates together are looking forward for the biggest opportunities the Expo 2020 has to offer. It is the first expo to be carried out in MENA (Middle East and North Africa) and SA (South Asia) region and would be a six month long exhibition on trade and business with products from round the globe.
As a matter of fact, Dubai Expo 2020 is going to make enormous boost to the Dubai and UAE economies. The prospects of the Expo are endless taking into account Dubai’ focus on tourism and infrastructure industry, particularly in Information and communication Technology (ICT) sector. Dubai being a hub for ICT, it is predicted that it would be successful on driving international market players in the context of Expo 2020. And most importantly, the small size of Dubai’s economy, the impact of an Expo 2020 would be considerably large to take it to the next level.
Besides, it is predicted that the benefit would extend to the real estate sector. Experts have already been talking about the ‘Expo boost’ in the real estate market in Dubai. About more than two lakh jobs are to be created and the visitor rate is expected to rise from 25 million to 100 million during the Expo 2020.
With Expo 2020, Dubai is going to be the biggest platform for boosting the economy of Dubai via the investments and deployment of resources from international market players in the already flourishing industries in Dubai. The Government of UAE is looking forward for the emerging prospects that Expo 2020 brings on for the progress of the economy.