Expo 2020 Dubai and its legacy are expected to contribute $42.2bn of gross value added (GVA) to the UAE’s economy from 2013 to 2042, EY estimates.
The World Expo that 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 are events organisation and business services (AED75.5bn), construction (AED 31.9bn) and restaurants and hotels (AED 23.1bn). 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 per cent, will be felt in the legacy phase through to 2042.
“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,” stated Reem Al Hashimy, UAE Minister of State for International Cooperation and CEO, Expo City Dubai Authority.
“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 Parties (COP28), which our legacy city, Expo City Dubai, is proud to host in November 2023.”
