The Impact of Dubai Expo 2020 on UAE Economy
Hosting of the Expo 2020 in Dubai will have major impacts to the country. It will bring huge economic benefits before and after the event and also create many jobs for the people of the country.
The advantages of the Expo 2020 in Dubai are;
a) Housing sector. The event is set to increase assurance in Dubai`s housing sector. This will support long term demand dynamics in the housing sector and the underpinning essentials. Arrival of many visitors will increase demand for housing of the visitors for the next six months hence they will develop or build news houses to accommodate them.
b) Infrastructure. Arrival of those who will be involved in the Exhibition will lead to increase of building of infrastructure ensuring that they are of the right standards that will accommodate those entire visitors. The southern part of the city will benefit a lot in terms of constructions since it’s the one that is not highly populated hence land is available for expansion.
c) Hospitality front. Since over 20 million people from outside will land in Dubai for the event therefore hotels are expected to expand within the vicinity of the event. The rates also will increase hence allowing the hospitality sector to accrue many benefits due to the event.
d) Creation of employment. Construction of buildings, roads, hotels will require man power to do that work. Hence the available people in Dubai will definitely get jobs and earning thus improving the living standards of the population.
e) Banking sector. It is one of the key gainer in Dubai that will benefit a lot from the event. According to a report that was released by the Bank of America the Expo will improve the GDP of the UAE. Increase in the GDP will lead to high standards of living.
On the other hand the drawbacks of holding the event in Dubai include;
a) Social evils. A higher inflow of people to the event will lead to increase in social evils such as a…