Wednesday, April 23, 2014
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Property in Dubai

World Expo 2020 has potential to create 277,000 jobs in UAE

The World Expo 2020 is likely to create at least 277,000 jobs in the UAE and will pump in billions of Dirhams into the economy of the country, if Dubai wins the bid to host the prestigious six-month event, a UAE minister said.


Reem Al Hashimi, Head of UAE National Committee for the Expo bid, said the emirate is taking major steps to host the World Expo 2020, to be held between October 2020 and April 2021, in the area between Jebel Al Ali and Dubai Trade Centre.


At least 25 million people from outside the UAE are likely to visit the event, the largest visitor number to ever come to an expo fair. About 70 percent of these visitors will come from outside the UAE, making it the largest expo event in the history, she said.


Delegates from more than 150 nations would meet on 27th November to cast their vote for their preferred host country for the Expo. The expo is a non-commercial event, based on learning, education, co-operation and innovation. The event will bring in immense economic, trade and investment benefits to UAE and Dubai in particular.


Dubai possesses advanced infrastructure for such a major event, and the emirate would embark on a drive to create proper construction and logistic base for Expo. As per the masterplan prepared by the emirate, the expo can accommodate 247 major participants and 25million visitors and there is a transport strategy in place to cope with large guest numbers.


As for costs and funding, the Expo could be worth 6.4bn euros and the event would be funded through ‘effective partnerships’ between public and private sectors in the emirate. The event would bring in at least Dh.86bn in added value to the UAE economy, which plies that every euro spent by the host country will fetch back six times to its economy, Hashimi said.


The expo site would cover an area of 438 hectares and would be built between the trade centre and Jebel Ali Free Zone, so that it will be in proximity to Dubai and Abu Dhabi.

Posted on 21/10/2013

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