On 27 November 2013, Dubai (the UAE) won the right to host the Expo 2020. This event has become the turning point in the history of this Arabic country. From this time on the city has a new impulse to its further development into the major international hub and the most attractive investment destination in the entire Middle East.
The World Expo is one of the world’s most important events. It holds the third position following the Olympic Games and the FIFA World Cup and influences both techno-economic and cultural realms of the global society.
The six-month long exhibition will run from October 2020 until April 2021 and will attract about 25 million visitors among which 17 million will be foreigners.
Dubai Expo 2020 is the large-scale event, which requires significant investments. Given this, the Government of the UAE is planning to allocate considerable funds for financing infrastructure development in the Emirate of Dubai. Around $8.7 billion will be invested in the event itself.
The inflow of $150 billion foreign investments is also expected in the areas of real estate sector, construction sector, tourism and hospitality.
It is expected that the total expenditures will be covered by substantial revenues of up to $23 billion that is equal to 24.4% of Dubai's current gross domestic product.
Dubai Expo 2020 is likely to turn a young Arab country into the most influential state in the entire MENA region. The exhibition will boost a rapid growth of all the industries. The UAE will get new roads, entertainment venues, accommodation facilities, etc. The newly created infrastructure will serve Emiratis long time after the event and will make Dubai the most desirable tourist’s destination.