Expo 2020 Dubai and its legacy are expected to contribute Dh122.6 billion ($33.38 billion) of gross value addition (GVA) to the UAE’s economy from 2013 to 31, according to an EY report.

 The report, ‘The economic impact of Expo 2020 Dubai’, states that Expo 2020 is also expected to support up to 905,200 full-time equivalent (FTE) job-years in the UAE from 2013 to 2031.

 Najeeb Mohammed Al Ali, executive director of the Dubai Expo 2020 Bureau, said: “This independent report demonstrates that Expo 2020 Dubai is a critical long-term investment in the future of the UAE, which will contribute more than Dh120 billion to the economy between 2013 and 2031.”

 “Not only will the event encourage millions around the world to visit the UAE in 2020, it will also stimulate travel and tourism and support economic diversification for years after the Expo, leaving a sustainable economic legacy that will help to ensure the UAE remains a leading destination for business, leisure and investment.”   

 Expo 2020 Dubai is expected to attract 25 million visits and participants from 190 countries from October 2020 to April 2021. During this period, the World Expo is expected to contribute approximately 1.5 per cent of the UAE’s annual forecast gross domestic product (GDP). In addition, small and medium-sized enterprises (SMEs) are estimated to receive Dh4.7 billion in investment during the pre-Expo phase, supporting approximately 12,600 job-years.

 In the legacy period (May 2021 to December 2031), the Expo site is expected to be redeveloped to District 2020, which is expected to include tenant companies and an expanded Dubai Exhibition Centre (DEC).

 District 2020 has been planned to support the UAE’s future vision by supporting sustainable economic development, moving toward an innovation-driven economy and creating a business environment to help support key growth industries such as logistics and transport, travel and tourism, construction and real estate and education.

 Over 80 per cent of the Expo’s built environment is planned to be retained for District 2020, and eventually expanded into a city covering more than 4 million sq m. District 2020 companies will be focused on technology and innovation, including a mix of corporations and SMEs. The DEC is also expected to be a key facility in the site.

Expo 2020 Dubai is the first World Expo to take place in the Middle East, Africa and South Asia (Measa) region in the 168-year history of the event.