How Expo 2020 will benefit Dubai
Ever since the news broke that Dubai is going to host the World Expo 2020, there is a celebration going on in Dubai as this is going to be a huge event and it will affect the economy of the country. This event will last for six months from October 2020 to April 2021. It is a unique event as Dubai has never hosted such a massive event ever before.
Dubai is the top destination for the tourists from all across globe. The city has experienced rapid growth in its infrastructure and economy in the last decade. Dubai is one of the most promising business marketplaces for several national and multinational companies. Now, the world’s most famous city is going to host the Expo 2020 event starting from the October month of year 2020.
The economic growth of Dubai
Dubai expo 2020 event is going to benefit the city to a very great extent. Several sectors including finance, construction, hotel, tourism and other public and private sectors in Dubai will be helped by this mega event. This event will be offering numerous opportunities to many organizations to advertise, promote and sell their products and services to millions of local and foreign individuals.
Event of expo 2020 will have long term impact on the economy of the city. It has been found that this massive event will be contributing around Dh123 billion to economy of UAE. It will be a big & significant addition to the national economy. These figures show how important this expo 2020 event is for the economic growth of the economy. It has also been anticipated that the game will enhance the national economy by around 1.5 percent.
The event of expo 2020 will highly be contributing to the economy of the city. Investors from all around the world are going to invest millions of dollars in hotel and tourism sector. Due to high foreign investment, the city will experience high economic growth in the region.
According to a new report by Federal Authority of Human Resources (FAHR), Five key industries will benefit from Dubai hosting Expo 2020 namely – hospitality, transportation, retail, banking, finance as well as real estate.
Thousands of individuals will be spending millions of dollars every day during the event, which would also positively affect the economy of the country. Billions of dollars of investment will be made in materials, infrastructure, construction, and finance sector in the country.
Increment in employment opportunities
Many jobs are estimated to be created around 2018 – 2020 in the UAE. According to Standard Chartered estimates that around 300,000 jobs will be created in Dubai by 2020. 25 to 30 million people are expected to visit Dubai during the expo. To handle this situation, Dubai International Airport will increase the number of stands from 144 to 230 (60 percent), and create 675,000sqm more floor space in the terminals. The emirate’s central transport hub is undergoing redevelopment, and it is being expanded to accommodate millions of international visitors that will come during the Expo 2020. During the days of organisation of expo 2020, more than 94000 job opportunities will be opened. It would significantly affect the economic growth of the city.
Many new hotel projects will be started to accommodate this flock of tourists creating several million jobs in the hospitality sector. ‘Expo 2020 [will] be a meaningful contributor to the sustainability of the housing market,’ a report in 2013, read. Dubai’s Roads and Transport Authority (RTA) has announced that they will fast-track a US$1.36 billion expansion of the Dubai Metro’s Red Line to connect to the Dubai World Central. There is also a piece of news about an underground railway being built connecting all the pavilions at the expo site.
How will Dubai look in the future- 2020?
Expo Dubai 2020 is about bringing people from every geographical region in the world at one destination. The future of Dubai after the Expo event is expected to be bright. After this massive event, the popularity of Dubai city will be higher than ever. Dubai city will attract a high number of investors and companies for investment opportunities available in the town after this mega event.
Dubai Silicon Oasis Authority (DSOA) on Tuesday announced the successful installation of the UAE’s first smart street lights and intelligent building technologies in collaboration with telecom operator Du. The future is here!
These smart street lights will be provided and programmed by Du and will use motion sensors. They are now active in Dubai and will provide 25 percent visibility until triggered to full power by approaching vehicles and pedestrians. Less energy will be consumed by this, and it will also reduce the operational cost. Du has put some network infrastructures, so now some additional sensors can be added to the street lights, and they can be used to collect and share information as well. This information can be used to know about weather conditions, CCTV can be added for security purposes and other information regarding the environment would be easily accessible.
Marwan Abdulla Bin Dalmook, Senior Vice-President of Managed Services and Smart City/Smart Government Initiative Lead at Du, says that “this is just the proverbial tip of the iceberg, with limitless possibilities now staring us in the face.”
When Bin Dalmook was asked to paint a picture on what Dubai might look like in 2020, he said that there would be complete happiness.
“Everyone from citizens/residents to entrepreneurs to government entities to enterprises will be happy,” he said.
“As an individual, if I have to go from point A to B, I will have full information at my fingertips – what time should I leave, what mode of transport should I take, what route should I take, etc.,” he said, giving an example.
“I believe in 2020; we are going to give people the amount of data they never dreamed of. Smart is efficient, and technology adoption rate in the UAE is one of the fastest if not the fastest in the world,” he said.