According to a report by EY, Expo 2020 Dubai and its legacy are anticipated to bring AED 154.9 billion (USD 42.2 billion) in gross value added (GVA) to the UAE’s economy from 2013 to 2042.
Throughout the course of its six-month run, the World Expo attracted 24.1 million visitors and is projected to generate 1,039,000 full-time equivalents (FTE) job years, or more than 35,000 FTE jobs annually in the UAE.
Construction (AED 31.9 billion/USD 8.7 billion), events organization and business services (AED 75.5 billion/USD 20.6 billion), and restaurants and hotels (AED 23.1 billion/USD 6.3 billion) are the industries that contribute the most to GVA, a metric of economic production.
Almost one-fourth of GVA was contributed by the pre-event phase, nearly one-third by the event itself, and six-in-ten (62%) of the economic advantages would be realized in the legacy phase through 2042.
UAE Minister of State for International Cooperation and CEO, of Expo City Dubai Authority, Her Excellency Reem Al Hashimy said, From the beginning, we were committed to hosting a World Expo that would achieve economic, social, and environmental benefits for the UAE, the region, and the world, with positive impacts extending well beyond the six months of the event,” Notwithstanding the difficulties posed by a pandemic over the world, we have fulfilled that pledge.
From the beginning of planning, legacy concerns were a top priority, and more than 80% of the infrastructure constructed for the six months of the event is reused in Expo City Dubai.
Through the ongoing delivery of programs, initiatives, and events that will attract guests, businesses, and tenants to increase impact and economic value, it advances the spirit of collective action from Expo 2020 Dubai and is an essential component of the Dubai 2040 Urban Master Plan and the emirate’s continued growth.
This includes the Expo Live program, which offers funding and support to social entrepreneurs around the world and recently announced a new search for climate-related solutions; the Expo School program, which continues to engage and inspire youth and has welcomed more than 25,000 schoolchildren in its new phase at Expo City Dubai; and the Women’s Pavilion, whose engaging events continue to spark meaningful discussion and drive action on gender equality and women’s issues.
Hundreds of thousands of people have visited Expo City Dubai since it opened officially in October 2022 to take part in the ongoing Hai Ramadan celebrations, Winter City, Fan City, and Chinese New Year celebrations, as well as summer camps and movie nights and to witness spectacular events like the Dubai Marathon, the Dubai UAE Tour Road cycle race, and the renowned Gumball 3000 sports car rally.
The AED 120 one-day Attractions Pass, which provides access to Terra – The Sustainability Pavilion, Alif – The Mobility Pavilion, the Vision and Women’s Pavilions, as well as the three new Stories of Nations exhibitions, is also proving popular because so many iconic attractions from Expo 2020 Dubai are still open.
The 192 participating nations reported benefits in terms of trade and business alliances, nation branding and cultural understanding, as well as international diplomacy and cooperation. More generally, research has shown that Expo 2020 Dubai spurred progress on a global scale.
As part of its ongoing transformation into a smart, sustainable, and people-centered metropolis of the future, Expo metropolis Dubai will also bring its own projects on board and recently unveiled exciting plans for residential developments.
The Middle East, Africa, and South Asia region’s first World Expo, Expo 2020 Dubai, was hosted there and symbolized a commitment to creating a better future for all people by fostering international cooperation and enhancing the UAE’s standing in the world.
News Source – Dubai Media Office
