Traditionally, world expos were international platforms for showcasing incredible innovations, capable of bringing progress and transforming the humanity. But today, expos, including World Expo 2020, which will be held in Dubai, present more economic benefits than ever before. The excitement caused by Dubai’s winning bid, however, isn’t a result of just an immediate monetary relief; it’s the positive long-term effects on Dubai’s growth everyone is talking about.
Attracting foreign investments
UAE has become the most attractive country in the region for investors, but global events such as Expo 2020, are drawing even more attention. The outlook for economic growth is positive, backed by various factors such as the latest Purchasing Managers Index (PMI), real estate prices, Credit Default Swap (CDS), hotel occupancy and airport arrivals. Despite the pessimistic picture, drawn by some due to the falling oil prices, Dubai will keep its growth momentum while preparing for Expo 2020 with a number of mega projects. The growth in banking, telecom, and real estate sectors, combined with the constantly improving business environment are positive signs to investors.
Catalyst for development
With the winning of the Expo 2020 bid, Dubai launched a number of mega projects and different initiatives, including new key infrastructure, diversified transportation, real estate projects, and so on. Sectors most benefitting from the event are clearly construction, hospitality and tourism, but there will be also growth in retail, transportation and real estate. In fact, effect of economic growth and development is already evident, but experts predict the major impact will be seen in the years after the Expo.