Optimistic Forecast for Remittance

Filed on October 3, 2021
Rashed A. Al Ansari Chief Executive Officer Al Ansari Exchange

How the mega event will drive growth for the industry

Expo 2020 Dubai is going to showcase some of the most elusive technology. The most awaited global event has officially opened its doors today, after postponing it for a year. It is expected to bring more than 190 countries in one place and will include a significant contribution to the UAE’s economy.

The six-month exhibition will present opportunities for business-related directly or indirectly to foreign investments, tourism, hospitality, science, technology, the creative industry and so much more. With over 25 million visitors and participants, this mega event is going to benefit both the hosts and participating countries.

With Expo 2020 Dubai, new foreign investments ventures and capital flows in the local market are expected. One of the goals of the exhibition is to strengthen the UAE’s international collaborations, which also means capital and business opportunities.

In light of the projected number of visitors and the potential huge cash inflow, remittance and money exchange services are also predicted to rise substantially. As local and regional markets boom, the domestic foreign exchange and remittance industry are capable to support visitors, participants and residents’ financial requirements to keep up with this growth.

Rashed A. Al Ansari, Chief Executive Officer at Al Ansari Exchange said: “To meet the demand during the event, Al Ansari Exchange will leverage its innovative technological infrastructure to provide financial services to Expo 2020 Dubai’s visitors across the UAE. Providing Omnichannel services will allow us to serve our customers efficiently and effectively.”

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