Expo 2020 Dubai poised to bring in $17.7bn of revenue

The UAE government forecasts revenue of up to $17.7 billion provided that Expo 2020 Dubai is a success, with each emirate in the UAE to become a major growth destination for economic growth.

 

According to senior analysts and experts at Expo 2020 Dubai, the world’s largest expo event, is expected to attract 25 million visitors, with up to 100,000 new hotel rooms expected to be ready and operational and the set-up several new luxury hotels. 

 

Moreover, Expo 2020 Dubai is poised to boost bilateral business relations, strategic partnerships and regional expansions in the UAE and the region, global and regional leaders concur.

 

Speaking ahead of the Alternative Investment Management (AIM) Summit, the world’s leading alternative investment summit, leaders spoke of how Expo 2020 Dubai is poised to boost the economy as well as how the state of the post pandemic recovery for global economies.

 

The magnitude of the event will be the first of its kind on the global stage and will serve as a litmus test in the pandemic area of how to execute on this scale both successfully and safely. 

 

“Historically the Expo event has been one of the driving forces for boosting cultural, social, and economical developments and growth worldwide. As the whole world will be tuning to the Expo 2020 Dubai, the event will definitely symbolises a milestone in socioeconomic excellence and renewed growth for the UAE and the world. The event will have a strong focus on technology, sustainability and responsible innovations across various sectors, and will be a melting pot for innovation by businesses and start-ups from all over the world,” said Mohamed Jumaa Al Musharakh, CEO, Sharjah FDI Office.  

 

“Dubai and the UAE’s approach to the Covid-19 Pandemic situation has benefited the country a lot. It has shown that life can resume, with certain Covid precautions, to what it was before. Expo will show the world that large events of this type can resume and it will be a great test case to see how people react to it globally,” said Mishal Kanoo, Chairman – UAE & Oman, The Kanoo Group.

 

“Expo 2020 is a crucial event for Dubai and the UAE. With it comes the upside of economic, financial and reputational benefits for the country as well as the broader region. It yet again puts Dubai on the world map and will serve as an excellent blueprint of what post-pandemic success looks like,” added Dr Ryan Lemand, Senior Executive Officer and Board Director, ADS Investment Solutions.

 

Looking at the global situation, as the world starts to return to a relative sense of normalisation, a number of key trends have emerged that are driving the post-pandemic economic recovery.

 

“We see a recovery which partially compensates for the periods of lockdown and partially is driven by the abandoned cash provided by central banks. Furthermore, there is a weakness in supply chains, which manifests itself for example in the lack of sufficient microchips but also in a shortage in paper and different raw materials,” said Prince Michael of Liechtenstein.

 

“Another key trend has been investments in technology, which under that sector comes an infinite number of markets which technology played a massive role in positioning them as new verticals and niche markets which investors can tap into. Finally blockchain finance will also lead the future of investments, with the rise of investments in crypto currencies and its easy accessibility by worldwide users looking to enrich their investment portfolios,” said Al Musharakh.  

 

Globally, institutional investors or investment strategies during the pandemic has been enabled a transformative shift in their investment portfolios, moving into more responsible investments across emerging socioeconomic sectors such as healthcare, agriculture, environment, education and more. 

 

Also, this shift played a major role in ensuring confidence amongst key stakeholders or shareholders for any business or enterprise, where top priorities focused on investing on the health and safety of employees; financial liquidity; business continuity, such as work-from-home models; and investment performances.

 

Al Musharakh, Prince Michael, Kanoo and Dr Lemand will all be addressing the regional and global economic trends at the 11th edition of the AIM Summit on from October 11 to 12 at the Jumeirah Emirates Towers at the Dubai International Financial Centre (DIFC). 

 

Launched in 2015, AIM Summit is a platform for discussions on investment developments, global market conditions and latest trends. The only conference of its nature and magnitude organised and orchestrated by the industry in an intimate setup to encourage real debates on the best practices and know-hows. 

 

AIM Summit acts as a bridge between the West and East through its global network base. It has created an ecosystem of 135,000 Fund managers, Institutional Investors, Family Offices, Sovereign Wealth Funds and Financial Associations.-- TradeArabia News Service

 

Source: http://www.tradearabia.com/news/BANK_387847.html

 

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