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Dubai Expo 2020 to give USD33 bn boost to UAE economy: study

AFP  |  Dubai 

Dubai's 2020 global trade fair is expected to give the an economic boost of over USD33 billion, consultants and said in a study released Monday.

Next year's mega-event would add 1.5 per cent to UAE's per year over the period that started in 2013 and runs until 2031, said EY partner

Major new construction projects and other impacts of the six-months extravaganza would create some 50,000 jobs yearly over the same period, he told a press conference.

The city-state of Dubai, one of the UAE's seven sheikhdoms, has long become a favourite tourist attraction, valued for its safety and known for its luxury resorts and opulent shopping malls, one of which boasts an indoor ski slope.

assumes that 2020 -- which runs from October 20 next year to April 20, 2021 -- will attract some 25 million visits, Benson said.

The economic impact includes "direct, indirect and induced effects" of the first to be organised in the and Africa, he said.

The Expo 2010 in drew 93 million visitors, and Expo 2015 in attracted over 22 million.

has already spent over USD40 billion on major infrastructure projects related to Expo including a USD2.9 billion new Metro line and an USD8 billion expansion of Al Maktoum International Airport, next to the Expo site.

The Metro line links the USD13.4 billion South Villages and Exhibition Centre, projects currently underway.

Al Maktoum Airport, when complete, will have the capacity to handle 160 million travellers per year.

The 4.4 square kilometre Expo site south of Dubai is due to be redeveloped into a full-fledged city after the Expo, the so-called District 2020, home to a mega exhibition centre and scores of companies, organisers said.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, April 15 2019. 19:25 IST