July 18, 2024

Expo 2020 can deliver ‘huge change’ to the UAE economy, stated by Danube boss


Rizwan Sajan estimates around 250,000 folks to invest in Dubai once attending the spectacular world event.

Expo 2020 can signal a ‘huge change’ within the UAE economy, as stated by Danube group’s chairman Rizwan Sajan.

The global event is ready to kick-start on October 20th and run until April 10th, 2021, the following year. Throughout that point, the UAE is anticipated to welcome up to twenty-five million guests to the region.

As per Sajan’s statement given to Arabian Business, “The investment potential from the other investors over those six months, was humongous.”

He said: “I’m terribly optimistic concerning the Grand Expo 2020 event. If you’re talking concerning 20-25 million folks coming back to the current part of the globe and if you check out the track record from the places wherever these Expo’s has been held previously, Shanghai and Milan, the economies of these specific cities shot up.

Here also, once you’re talking concerning 20-25 million folks coming back, that he is expecting at least 10 percent of these can show interest in finance within the UAE, which is concerning 2-2.5 million people. Out of that, solely 10 percent can invest, 10 % can show interest, however alone 10 percent can really have guts to invest. Thus concerning common fraction of only 1 percent of the overall range of tourists can really spend.

“We’re talking concerning 200-250,000 folks coming back and invest during this a part of the global arena. That’s reaching to be a large amendment within the economy.”

Global practice EY’s printed a report earlier this year, which mentioned that from the time the Expo bid was won in Gregorian calendar November month 2013, throughout to a decade once Expo’s doors shut, $33.4 billion (AED122.6 billion) can be contributed to the UAE economy, supporting quite 900,000 full-time equivalent job-years across a broad spectrum of business sectors.

Direct and indirect investment in buildings, infrastructure, and different assets can reach quite $10.9bn (AED40bn) over 2013-2031. While, throughout the six months of the World Expo event, with the massive swathe of tourists’ hard cash on tickets, merchandise, accommodation, transport, and food, the Expo 2020 can account for the 1.5 percent of overall GDP.

This EY report additionally also stated that a net worth activity price of $17bn (AED62.2bn) would be sparked within the decade following the event, out of which the lion’s share will be invested within the events and business services sector.

Sajan, whose company has launched the $5 million Danube Hospital Solutions venture, geared toward a line of work to support the growing Hospital needs of the region, as he stated that there was still much to look forward to. “I expect folks from everywhere the globe, and therefore the UAE is such a stunning place that anybody coming here falls in total love with the place. I’m positive as we have a tendency to enter Expo 2020 and that they’ll see a giant turnaround in numbers,” he added further.



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