The much-anticipated Expo in Dubai next year is projected to contribute Dh122.6 billion to the UAE’s economy and create nearly 50,000 full-time jobs per year between 2013 and 2031, according to consultancy Ernst & Young.
Over that period, Expo 2020 that Dubai won the host bid for in November 2013 is expected to make up 0.47 per cent of the UAE’s gross domestic product and 0.8 per cent of average annual employment driven by construction, an influx of Expo visitors and business activity at the site, the US auditing company said in an independent report.
The economic effect of Expo 2020 from October 2020 to April 2021 would be equivalent to 1.5 per cent of the UAE’s gross domestic product.
The biggest gains will be from the post-Expo “legacy” period between 2021 and 2031 with a contribution to the economy of Dh62bn, driven by the main sectors of events organisation and business services, retail, restaurants and hotels, the report showed.
Of the Dh62.2bn contribution to GDP after the event, the main sectors to benefit will be events organisation and business services (Dh54.2bn), retail (Dh2.5bn), and restaurants and hotels (Dh2bn).
Source: The National