Expo 2020 likely to contribute $34 bln to UAE economy: report

Expo 2020 Dubai and its legacy are expected to contribute $33.51 billion (AED 122.6 billion) of gross value added (GVA) to the UAE’s economy from 2013–31, consultancy firm EY said in a report on Monday.

The report, titled, “The economic impact of Expo 2020 Dubai’,  said that Expo 2020 is also expected to support up to 905,200 full-time equivalent (FTE) job-years in the UAE from 2013–31, which is equal to approximately 49,700 FTE jobs per annum in the UAE over this period.

Expo 2020 Dubai is expected to attract 25 million visits and participants from 190 countries from October 2020 to April 2021. During this period, the World Expo is expected to contribute approximately 1.5 percent of the UAE’s annual forecast gross domestic product.

In addition, small and medium-sized enterprises are estimated to receive AED 4.7 billion in investment during the pre-Expo phase, supporting approximately 12,600 job-years, while also supporting Expo 2020’s aim to foster innovation and support small businesses.

In the Legacy period (May 2021 to December 2031), the Expo site is expected to be redeveloped to District 2020, which is expected to include tenant companies and an expanded Dubai Exhibition Centre.

More than 200 participants will gather in Dubai from October 2020 to April 2021 to explore Expo 2020’s theme of “‘Connecting Minds, Creating the Future”.