Expo 2020: Boosting UAE economy

The Expo 2020 Dubai, one of the most highly anticipated global events of 2021, has now opened with more than 192 participating countries and millions of visitors from all over the world descending on Dubai to experience the mega event that will run until March 31, 2022.

At home, the global exhibition has begun spurring activities in tourism, retail, transportation, real estate, hospitality, and other major industries. This bodes well for the economies of Dubai and the UAE. As it is, more jobs are continuously being generated in connection with the Expo, while ramped-up local investments across the country have accelerated big infrastructure projects.

Globally, the UAE is seen to capitalize on the event’s drawing power to enhance its relations with key markets in Asia, Africa, and other continents, with positive effects on the local re-exports and exports sector. Foreign direct investment inflows are also forecasted to improve, as the country showcases to the world its strengths as a world-class business and investment hub.

The country will feel the considerable economic benefits of the Expo. In Ajman, the Ajman Free Zone is poised to gain from the expected influx of companies seeking to enter the UAE market.

This is because the free zone has established itself as a destination of choice among local, regional, and international investors. To date, more than 9,000 companies from 145 countries have set up their operations in the free zone to take advantage of its myriad of cost-effective business solutions, incentives, and facilities. Its integrated portfolio of services continues to attract businessmen and investors from all over the world, and, with the opening of the Expo, these numbers are projected to increase.