Tag Archives: UAE economy

Expo 2020 Dubai and its legacy are expected to contribute AED 154.9 billion (USD 42.2 billion) of gross value added (GVA) to the UAE’s economy from 2013 to 2042, a report from EY has shown. The World Expo, which welcomed 24.1 million visits during its six-month run, is also expected to support approximately 1,039,000 full-time equivalent (FTE) job-years, equal to more than 35,000 FTE jobs per annum in the UAE over the same period. The sectors contributing most to GVA – a measure of economic productivity – are events organisation and business services (AED 75.5 billion/USD 20.6 billion), construction (AED 31.9 billion/USD 8.7 billion), and restaurants and hotels (AED 23.1 billion/USD 6.3 billion). The pre-event phase contributed around one quarter of GVA, the event itself added almost 13 per cent, while the lion’s share of economic benefits – 62 percent – will be felt in the legacy phase through to 2042. Her Excellency Reem Al Hashimy, UAE Minister of State for International Cooperation and CEO, Expo City Dubai Authority said: “From the outset, we were committed to hosting a World Expo that would achieve long-lasting economic, social and environmental benefits for the UAE, the region and the world, with positive impacts extending well beyond the six months of the event. Despite the challenges of a global pandemic, we have delivered on that promise. “One year since we closed our doors, this report confirms that Expo 2020 Dubai was a triumph – a milestone event that is substantially boosting our nation’s economy, and whose ripple effects are continuing to enhance our city’s international profile, driving new business growth and attracting globally significant events such as the UN Climate Change Conference of …

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