RetailME - December 2019
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The brand Dubai has grown phenomenally, and today it is spoken about in the same breath as more established cities like London, New York, Paris, Singapore and others. In Euromonitor International’s Top 100 City Destinations Ranking for 2019, Dubai is named the first Middle East cityand seventh-most visited city in the world. As Expo 2020 Dubai draws closer, the city is all set to woo the world. Expo 2020 Dubai is forecast to boost the country’s economy by $33.4 billion and support more than 900,000 jobs between 2013 and 2031. During the peak six-month period from October 2020 to April 2021 of the World Expo, the most significant event to be held in the Arab World ispredicted to add the equivalent of 1.5% to UAE GDP. The visitor spending on tickets, merchandise, food and beverage, hotels, flights and local transport will propel economic activity. Expo 2020 Dubai expects 25 million visitors, with 70% coming from outside the UAE, providing the hospitality industry with a rewarding opportunity to show the world what the UAE has to offer. From November 2013 – when Dubai won the bid to host the Expo – until its opening in October 2020, the economic impetus is largely driven by the construction sector. The work continues on the site and supporting infrastructures such as roads, bridges and the Dubai Metro Route 2020 line. Crucially, small and medium enterprises, a core component of the UAE economy, will receive AED 4.7 billion in investment during the pre-Expo phase.
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