Can Dubai Expo 2020 Change The City?
A new day is about to come for Dubai. Expo 2020 is around the corner. We are only weeks away from the dawn of the New Year. And then it is straight onto the World Expo event. Beginning in October 2020, the magnificent event will run for 6 months and end in April 2021. Expo 2020 has brought a new wave of energy to the city.
Dubai will get great acclamation and honor for hosting the third biggest event in the world. What impact will this exhibition have on Dubai as a whole? What regions, areas and elements will benefit from this spectacular event?
The Economy
The economy will always be at the forefront of anything big Dubai decides to take on. World Expo is a massive-scale event, so how will it impact the economy? The bottom line is that an audience of 25 million people are expected to visit the city during this period. This number is already having an effect on the economy charts. The stock market saw an increase of 4% soon after the Expo 2020 bid was won by the Emirates. This was just the starting point. Expo 2020 will make a huge impact on a range of industries including hotels, construction, real estate, transportation and communication. This will spike the economy and increase the GDP. It is stated that Dubai will experience a growth in GDP that will hit 10.5% by 2020.
Infrastructure
The World Expo event will push infrastructure to the forefront. The host site, Dubai South is set to hold the event across 438 hectares that will see new buildings, hotels, metro extensions, roads, facilities, recreation centres, entertainment centres and accommodation increase significantly.
Real Estate
Dubai has long been considered a real estate haven by people all across the world. It is one of the most popular cities to live, work and play. Wealthy individuals, businesses and companies relocate to Dubai because of its world-class real estate industry. A visible hike is expected in real estate to cater to the millions of visitors and tourists coming to Dubai in 2020. Tourists, event organizers, officials and celebrities will start looking for accommodation and this interest in real estate will have a positive impact on the city, as a whole.
Job Industry
The job market will see a boom as expected when the city is hosting such a large-scale event. Labour will be required in all sectors and industries, particularly construction, transportation and tourism. Statistics reveal that by the time Expo 2020 rolls around, there will be close to 275,000 new job openings. There is an excitement in the employee sectors as they await higher pay and bigger bonuses. It is a possibility that salaries will be impacted and rise upwards.
The significance of Expo 2020 will go beyond the impact it has on the above mentioned. It is the first ever Expo to be hosted by a region in the Middle East. It is with the ultimate goal to connect people and build a better future for the world!