EXPO 2020 benefits
One thing that we will learn from Expo 2020 Dubai is the role collective action plays when it comes to overcoming challenges. With the event being held in the middle of the pandemic, when global economies are struggling, especially with the lockdowns in place, it sure can be used to convey the need to tailor a collective response to the most common global challenges. In addition, it is also expected to present a golden opportunity to government entities, international organizations, as well as individual businesses from the UAE and Dubai, to collaborate and foster a resilient and more diversified economy, thereby inspiring more sustainable growth. This is expected to benefit these regions immensely. In fact, here are some of the benefits:
The hosting of the event itself is expected to increase job availability in Dubai. Whether it’s construction work, supervision, cleaning, security, or even management works, a lot of people are expected to benefit directly. Right from the beginning till the end of the event, over 900,000 jobs are expected to be created in the region – that’s about 50,000 jobs annually. Amazing, right?
Support for small and medium enterprises
This is the other benefit that’s inculcated into Dubai’s Expo 2020 theme, where small businesses will be supported with grants. You see, there is a total of $1.5 billion that will be distributed effectively to SMEs, and is expected to create over 10,000 jobs. This will still be in line with one of the event’s themes, which is to assist the businesses to grow.
The city’s infrastructure won’t be left behind during this period, as major infrastructural developments are also being budgeted for. See, whether it is the development of the site where the event will take place, the roads around that area, plus the accommodation structures, they will contribute to the city’s infrastructural development. In line with this, the government has increased funding to infrastructural projects focusing on construction, real estate, and the hospitality industry, all of which directly affect the success of the event. For instance, a total of $6.9 billion was used to construct the building where the event will be hosted. Not to mention a significant amount of money spent on residential real estate to house the guests, especially in Mohammed bin Rashid City.
With all the increasing investments that are being made to different sectors of the economy – from real estate to tourism, hospitality, and transportation – it has greatly helped in boosting the economy in general. And guess what, this growth isn’t only felt in the host city, but also the whole of UAE and the Middle East at large. It has been estimated that as an impact of the Expo, a total of 200,000 jobs would be created throughout the entire economy, which will also give economic growth a boost.
The Dubai Expo 2020 is undoubtedly a global event, aimed at bringing out ideas from the most innovative persons – ideas that would help in solving the global problems being experienced at the moment. So, its effect on the economic growth in the UAE is immense and something to look forward to.
For more information about EXPO 2020 kindly visit: expo2020dubai.com
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