Expo 2020 will add $23.4bn to UAE’s GDP
Reported by Arabian Business
Dubai Expo 2020 will add more than $23 billion to the UAE’s gross domestic product (GDP), boosting it by about five percent, according to a new report by investment bank Arqaam Capital.
The research note said Dubai Expo 2020 will be “bigger and better” than the recently concluded Milan Expo 2015, with a more pronounced effect on GDP.
Jaap Meijer, managing director – research at Arqaam Capital, said: “While Expo 2020 is expected to cost $9.4bn to stage, almost double the investment of Milan Expo 2015, we see it as an overall positive stimulus to the economy.
“We expect an increase of government revenues in the UAE of $2.9bn (0.6 percent of GDP), given the larger scale of Expo 2020 compared to Milan 2015.
“Our research also suggests that the increase in consumption and tourism related directly to Expo 2020 will boost the UAE’s GDP by $23.4bn, 5 percent of the total, almost four times the value of public investments.”
Expo 2020 is scheduled to be hosted by Dubai in an area next to Jebel Ali. Spanning 438,000 square metres, Dubai Expo 2020 will be 10 percent larger in size than Milan Expo 2015.