As Dubai is gearing up for World Expo to be held in 2020, the celebrations are also on and why not? This expo will benefit everyone in the United Arab Emirates from a household to the large business. The Expo will prove as the gateway to the never ending business opportunities and will make Dubai as the attractive trade destination for the foreign companies. These five years have been strongest in terms of economic development and winning the bid for hosting Expo 2020 will prove beneficial in the growth for many years to come. The opportunities for growth and development in the lead up to the expo are exponential. As the past shows, the successful Expo will have a significant impact on the economy of the host city. Take an example of Shanghai Expo 2010, the event brought about 73 million people and promoted the city as the thriving, global city besides showcased the potential to exhibit the nation’s strengths and talents on the global platform. The event encouraged new and long-lasting infrastructure projects that are still benefiting China. The article will guide you about the Expo 2020 and its significance with regard to Dubai.
What is World Expo?
World expo is a large public gathering at a place or venue where people around the world visit and showcases their products and services. The world expo is also called as world fair or universal exposition. The first world Expo was held at the United Kingdom back in 1851 with the theme as “Great Exhibition of the Works of Industry of All Nations”.
World Expo is held after five years over six months, attracting millions of visitors and businessmen to explore new innovations, ideas, scientific and technological advancements. The expo gives the new dimensions of growth to new and the current industries which ultimately lead to the global change.
The next world expo is going to be held at Dubai in 2020 with the theme as “Connecting minds, creating the future”. This will be the first time the event has been held in the Middle East.
What does World Expo mean to Dubai?
The event is very crucial to the development and the economy of the Dubai. The event will give a boost of 23$ billion to the economy by the Expo 2020 as is predicted by the global emerging markets report. The event will have a considerable impact on the economy with the increased demand in the services regarding hospitality, transportations, construction etc. Many areas are expected to experience tremendous growth and development across the city in the lead up to 2020 event. The effect of the event will be seen after years of the event as it will create the numerous opportunities of all types of the business enterprises in Dubai. There will be much to be seen in terms of architecture and construction of the marvels as Dubai has been investing in these areas from a long time now. The improvements in infrastructure, security, transportation, information technology, connectivity and other facilities are going in a full swing in Dubai. There is an announcement from the government already that Dubai is being converted into a” smart city”. The smart city project will change the way of availing the government services such as bill paying, technology, airline companies, shopping malls, restaurants, hotels and other service providing organizations. The event will, therefore, be beneficial to the residents of the United Arab Emirates in view of the upgrading the services. So the functional, accessible environment through sustainable infrastructure is set to increase.
World Expo at Dubai will prove to be a great platform for the emirate, opening a new window to the world to promote Dubai as a global city, and one with world-class infrastructure.
The event would also help to drive demand in the property and the real estate industry, helping in exploring the new and the untapped markets. There will be the tremendous growth in the small business areas and it is the best time to start a business in Dubai as the growth is expected in many areas, but some areas like real estate, hospitality, retail, airlines, and transportation are viewed as the major gainers. Dubai is expected to attract over 25 million visitors during the six-month course; the expo thus will promote Dubai as a major tourist spot in the world besides a hub for global business.
The entrepreneurs have a golden opportunity to start their business in Dubai as the growth trend is going to increase exponentially. The only thing to consider is to invest in a profitable industry which is set to share the growth pattern in the coming years.
Ocean of Jobs
According to a report, there is going to be an ocean of jobs in the UAE in the coming years. Millions of jobs are expected to be generated in the coming years. A report by Standard Chartered has estimated that about 300000 direct jobs and around a million indirect jobs will be created in the United Arab Emirates by 2020. Jobs in travel and tourism sector will generate 90% of these opportunities.
World Expo 2015 will thus mark the beginning of a new era of growth and development in Dubai in particular and the United Arab Emirates in general. Industries that are expected emerge as the top gainers from the World Expo 2015 will be discussed in the next part of this article.
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