Expo 2020 Dubai and its legacy are expected to contribute Dh154.9 billion ($42.2 billion) of gross value added (GVA) to the UAE’s economy from 2013 to 2042, a report from EY has shown.
According to Khaleej Times, the World Expo, which welcomed 24.1 million visits during its six-month run, is also expected to support approximately 1,039,000 full-time equivalent (FTE) job-years, equal to more than 35,000 FTE jobs per annum in the UAE over the same period.
The sectors contributing most to GVA – a measure of economic productivity – are events organisation and business services (Dh75.5 billion), construction (Dh31.9 billion), and restaurants and hotels (Dh23.1 billion).
The pre-event phase contributed around one quarter of GVA, the event itself added almost 13 per cent, while the lion’s share of economic benefits – 62 per cent – will be felt in the legacy phase through to 2042.
Legacy considerations were at the forefront of planning from the outset, and Expo City Dubai repurposes more than 80 per cent of the infrastructure built for the six months of the event. It forms an integral part of the Dubai 2040 Urban Master Plan and the emirate’s continued growth, and takes forward Expo 2020 Dubai’s spirit of collective action through the ongoing delivery of programmes, initiatives and events that will draw visitors, businesses and tenants to add further impact and economic value.
This includes the Expo Live programme, which provides funding and support to social entrepreneurs around the world and recently announced a new search for climate-related solutions; the Expo School Programme, which continues to engage and inspire youth and has welcomed more than 25,000 schoolchildren in its new phase at Expo City Dubai; and the Women’s Pavilion, whose engaging events continue to spark meaningful discussion and drive action on gender equality and women’s empowerment.
Instilled with the values of equality and inclusion, wide-ranging programmes involve youth, businesses, civil society and governments on Expo City Dubai’s broader objectives, such as enabling action towards climate security in the run-up to and during COP28, and working together to build a better, more equitable and sustainable future for all. (NewsWire)