14 07 2020

Expo 2020 - expectations of economic growth in the UAE

Expo 2020 - expectations of economic growth in the UAE

One of the most anticipated events in Dubai, over the years, was the Expo 2020 exhibition. For the Arab Emirates themselves, the exhibition and preparations for it became an important event that could for many years consolidate the position of the most technologically advanced and economically developed country in the world.

In the process of preparation, multibillion-dollar foreign investments were attracted for the development of related infrastructure, capable of serving all the needs of visitors and organizers of the Expo-2020 exhibition.

For several years, in the areas adjacent to the exhibition pavilion, hotel complexes, residential buildings, shopping and entertainment centers were built. Restaurants and shops are open.

The state has initiated several programs to develop and attract tourism, increase economic growth, and demand for various goods and services. In this regard, the country's GDP growth is expected due to growth in demand for real estate. Also, considerable attention is paid to the development of the banking sector, capable of conducting millions of cash transactions simultaneously, and thereby provide all the needs of residents and tourists.

Using such events in other countries as an example, the UAE government considered and planned the redistribution of all built-up business centers and complexes for other business needs. On the example of countries in which, after international events, exhibition venues were empty and unnecessary, the UAE government considered to convert territories into scientific laboratories or office premises.

The organizers of the Expo-2020 exhibition plan to attract more than 20 million participants and visitors during the 6 months of the event. Thus, it is planned to attract foreign capital in the amount of 30-40 billion US dollars.