Alliance-dubai.net - World Expo EXPO-2020 will open up new prospects for the economy of the UAE

World Expo EXPO-2020 will open up new prospects for the economy of the UAE

Economy

Experts expect that the next world exposition Expo 2020, which this time is held in Dubai, will allow the UAE economy to receive an additional thirty three billion dollars to GDP by 2031.

According to the estimates of the EY (Erst & Young) company report, the international exposition Expo 2020 will allow the country's economy to receive additional GDP growth of approximately $33.4 billion (AED 122 billion) by 2031. In addition, they expect the creation of new jobs – about 50,000 per year, which in turn will give an additional impetus to development due to the growth in consumption of goods and services.

All of the above figures are presented in a report called “The Economic Impact of Expo 2020”. The same report describes direct and indirect factors that will affect the indicators of economic activity in the country after the expo.

According to the organizers, the UAE is counting on 25 million visitors and participants from almost all countries of the world who will visit the country during the event from October 2020 to April 2021.

According to the local management, pavilions and other premises that will be used at the exposition after its completion will be re-equipped in District 2020, the main task of which will be the development of innovative technologies in the region. About 80% of all premises, the most important of which – the Dubai Exhibition Center (DEC) will be saved, and foreign investors will be able to rent them.

During its more than 150-year history, for the first time Expo will be held in the Middle East, in the new center of innovation and technology in Dubai.

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