Expect Phenomenal Growth

Hamad Buamim, President and CEO,Dubai Chamber of Commerce & Industry
Hamad Buamim, President and CEO,Dubai Chamber of Commerce & Industry

Dubbed as 'The World’s Greatest Show', Expo 2020 Dubai, is creating far-reaching economic benefits for its host city, putting it on a path of sustainable growth, progress and prosperity

Published: Sun 3 Oct 2021, 1:54 PM

Dubai’s reputation certainly precedes Expo 2020 as the city has become synonymous with tourism, trade, cultural exchange and innovation. As one of the world’s fastest-growing cities, Dubai already has many world records and extraordinary achievements under its belt. To add to that, the city’s world-class infrastructure, business-friendly environment, fascinating attractions, warm hospitality and rich culture are all major strengths, which make it an ideal choice for an event of this scale and calibre.

Hamad Buamim, President and CEO of the Dubai Chamber of Commerce & Industry, put it best when describing the key factors that have catapulted Dubai’s economy. It all boils down to the bold vision, sky-high ambitions and can-do attitude of the wise leadership, which have served as a blueprint for the city’s rapid expansion and development.

“By opening its economy to the world, Dubai put itself on a steady path of diversification which has enabled it to become a major business hub, attracting top talent, investors and companies from around the world. Yet, despite its progress, the emirate continues to push new boundaries by adopting forward looking policies that ensure that its economy remains competitive and future-ready,” said Buamim.

Analysing the Expo effect

The economic benefits of Expo 2020 to Dubai are undeniable and can be seen in the city’s expanding skyline and infrastructure. The mega event has boosted activity in various areas of Dubai’s economy with the trade, logistics, tourism, construction, finance, retail and real estate sectors witnessing the Expo effect.

“Expo 2020 is expected to create huge tangible and intangible economic benefits for the emirate and the wider region, with new and expanded infrastructure serving business communities and societies for the long-term. The event will open new doors for cross-border partnerships that diversify, drive and expand global trade,” said Buamim.

More than 80 per cent of Expo’s infrastructure will live on in the future city of District 2020 – a model global community for the future that will use state-of-the-art innovation, science and sustainability to create a cleaner, safer, healthier environment to live and work. The event will amplify the UAE’s push for economic diversification, opening avenues for bilateral trade. It offers the opportunity to collaborate in areas where the UAE wants to build its strengths, such as food security and renewable energy.

The Expo 2020 effect, remarkable progress of the UAE’s vaccination campaign and growing momentum behind Dubai’s digital transformation and digital economy are having a positive impact on the economy and business environment. The six-month event will enhance Dubai’s competitiveness as a global business and innovation hub.

Exploring business benefits

With E&Y estimating that Expo 2020 Dubai will contribute $33.3 billion to the UAE’s economy by 2031, it is an ideal time for businesses to capitalise on this unprecedented opportunity, be part of a long-lasting legacy and make their mark on the world. The mega event is creating plenty of new business opportunities as it provides an ideal platform for companies to showcase their solutions and boost their global profiles.

As the Official Business Integration Partner for Expo 2020, Dubai Chamber is connecting business communities from around the world at its dedicated business networking facility at the world expo. The Chamber is also hosting several high-level business forums and events at Expo 2020, including the largest-ever Global Business Forum Africa (GBF Africa), GBF Latin America, the inaugural GBF ASEAN, the World Chambers Congress 2021, among several others.

Dubai Chamber has set a target of attracting more than 100,000 companies to Dubai to participate in Expo 2020 Dubai. The Chamber has already achieved considerable headway in working towards this goal as its representative offices across Africa, Eurasia and Latin America have been raising awareness about the world Expo and the competitive advantages that Dubai can offer global companies and investors as a world-class business hub and land of opportunity.

“Businesses participating in Expo can tap into Dubai’s competitive advantages, explore new growth opportunities in the region and boost their global profile. It represents an unprecedented opportunity for businesses of all sizes, international organisations and government entities from across the world, to forge cross-border partnerships that drive sustainable growth,” said Buamim.

Expo 2020 Dubai is a turning point and catalyst for Dubai’s sustainable economic growth, while it will change the dynamics of Dubai’s trade relationships and business community. With Expo 2020 Dubai in the global spotlight, the UAE is capitalising on the opportunity to send a powerful message to the world as it defines its new vision, lays the groundwork for its growth and developments over the next 50 years and writes the next chapter of its success story.

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