Department of Economic Development of Dubai: Expo 2020 will have far-reaching effects on Dubai, GCC, wider Middle East

Dubai: Sami Al Qamzi, Director General, Department of Economic Development of Dubai (DED) affirms that the selection of Dubai to host the World Expo in 2020 will have far-reaching effects, especially across the Gulf Cooperation Council (GCC) and the wider Middle East region. "Our estimates of the effect of Expo 2020 on the economy of Dubai are preliminary at this stage, but they indicate positive direct and indirect outcomes," Al Qamzi said in a statement on Dubai's winning of the bid to host the world Expo 2020. "While Dubai is already recognised as an international hub for trade, investment and transportation, hosting Expo 2020 would strengthen this position in the eyes of the local business community and potential international investors. It would reinforce the impression that Dubai has the capability and capacity to organise major undertakings as it has done so for almost two decades. The psychological impact thus created should not be underestimated." "As for the direct impact, we expect an increase in investment, event-lined infrastructure and other activities in the period leading to and during the Expo, i.e. 2014-2021. As we expect the number of visitors to increase sharply during the event, sectors such as hospitality, food '&' beverages and retail trade will be the major beneficiaries, in addition to transport and logistics," Al Qamzi added