Expo 2020 to generate USD37.83b in revenue for Dubai
18 Dec 2014
(MENAFN) The UAE Ministry of Economy said that it expects the Expo 2020 to bring financial returns of about USD37.83 billion to Dubai, as well as attract more than 25 million visitors, 70 percent of them from abroad, to the emirate, Emirates 24/7 reported.
The Ministry also said that it forecasts that Expo 2020 is expected to generate more than about 277.000 jobs between 2013 and 2020 in addition to USD9 billion in investments to build infrastructure and logistics to host the mega exhibition.
Meanwhile the number of tourists visiting Dubai is expected to grow to 18.8 million tourists in 2022, spending up to USD30.97 billion by the year 2022, in comparison with 11.2 million people registered in 2012, who spent USD30.21 billion.
As for the country as a whole, the UAE’s investment in the tourism sector has amounted to USD25.28 billion in 2013 compared with USD22.94 billion in 2012registering a growth by around 10 percent, with expectations that the tourist numbers will rise 7.2 percent with investments reaching USD28.41 billion in 2014 and grow to USD37.53 billion in 2022.
“The GDP is expected to reach USD421.90 billion at the end of 2014 and USD440.96 billion by the end of 2015. GDP is likely to grow up to 4.3 per cent by the end of 2014 and 4.5 per cent next year, the growth will continue at a rate of 4.5 per cent for the years 2016 and 2017 and to rise to 4.6 per cent during 2018 and 2019,” The UAE’s Minister of Economy said at a sideline of a conference.