Preparations for Dubai World Expo 2020, the largest international event in the Middle East, have started and are expected to gain full momentum during 2017. It will be an amazing achievement for the UAE to host the third largest global event in the world.
Authorities in Dubai are determined to make the most out of this mega-event in terms of benefits for the entire country. The Expo 2020 will last for six months during which the focus will be on the trade and innovation. This should act as a magnet for professionals and tourists from all parts of the world. The positive effects on the UAE will be tremendous. Visitors will have the opportunity to see the best examples of global products. Moreover, the real estate market currently on the verge of a revival will experience a significant boost with the new projects.
The UAE is already an interesting tourist destination for many travelers but with the Expo 2020 coming up, according to the projections, their number in Dubai is expected to reach 30 million. Such a high number of tourists will boost Dubai’s hospitality and tourism sectors, positively affecting the country’s economy.
Most of the specific requirements and special developments for Expo 2020 have already begun and some of them have even been completed already. Additionally, Expo 2020 was an inspiration for real estate initiatives like the Dubai Water Canal, Museum of the Future, Deira Islands, Dubai theme parks, Jewel of the Creek etc. These are important projects that will contribute to the overall experience and will delight locals, residents and international tourists.
This mega-event will create around 300,000 direct and over a million of indirect jobs within the UAE. According to recently published report by Standard Chatered, the majority of the jobs will be created in travel and tourism industry between 2018 and 2020. The report also states the need for specialized knowledge and professionals such are architects, infrastructure developers, and engineers.
Industries that will also prosper from the Expo 2020 are hospitality, retail, transportation, banking, and finance.