Over 76% of Dubai firms say Expo 2020 boosted business growth, reveals survey

The six-month-long mega-event, which concluded on March 31, drew 24 million visits



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A Staff Reporter

Published: Sun 3 Apr 2022, 1:29 PM

Last updated: Sun 3 Apr 2022, 1:33 PM

More than 76 per cent of companies in Dubai said Expo 2020 boosted business growth, while over 73 per cent entered into new partnerships during the six-month-long world’s largest expo.

The survey, released by the Dubai Chamber of Commerce and Industry, revealed that 70.6 per cent of respondents leveraged the networking and business matching services provided by the Chamber during the Expo 2020 Dubai.

Expo 2020 Dubai concluded on March 31, 2022, attracting more than 24 million visits with 33 per cent of visitors coming from abroad to watch and experience the mega event.

The Dubai Chamber survey was conducted among business groups and business councils.

The survey found that 47 per cent of respondents benefitted from the Global Business Forums series, and another 47 per cent said they benefited from bilateral business meetings arranged at Expo 2020 Dubai.

The report, titled Business Integration for Growth, Digital Transformation and Global Partnerships was developed by the Chamber in collaboration with Oxford Business Group, highlighted the role that Expo 2020 Dubai played in catalysing business growth in the tourism and hospitality sectors in the emirate, and pointed to the surging number of international visitors.

It revealed that revenue per available room (RevPAR) in Dubai in January 2022 increased to Dh460 ($125) compared to Dh293 ($80) in January 2021, marking an increase of 56.3 per cent and outperforming Milan, the host city for Expo 2015, which recorded RevPAR of 54.5 per cent in 2015.

The number of hotels stood at 759 in January 2022 as compared to 711 in January last year. While guest nights in January were at 3.04 million during the same month this year compared to 2.65 million in January 2021.

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Hamad Buamim, president and CEO of Dubai Chambers, described Expo 2020 Dubai as a historic milestone for the UAE and Dubai.

“Our goal is to be the best chamber in the world when it comes to driving competitiveness and growth. At Expo 2020 Dubai, we have been able to put this mission and vision into action. Our efforts in supporting the mega-event have helped to strengthen Dubai’s reputation as a place to do business,” he said.

“Building on our long-term strategy to embrace digital transformation, we adopted a hybrid format for the Expo 2020 events. Doing so has enabled us to expand our reach and engage with public and private stakeholders from around the world,” he said.

Buamim predicted that sectors such as tourism, trade, transport, travel and financial services, as well as the digital economy, will be the key engines of growth. Expressing his belief that Dubai's investments in innovation and technology will drive sustainable economic growth long after Expo 2020 Dubai, he noted that the success of the mega event would cement Dubai’s position as a global business and innovation hub.

- waheedabbas@khaleejtimes.com


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