[ad_1]
Dubai: Expo 2020 Dubai and its legacy are expected to contribute AED154.9 billion in Gross Value Added (GVA) to the UAE economy from 2013-2042, says a new report.
The expo, which welcomed 24.1 million visitors during its six-month run, is also expected to support around 1,039,000 full-time work-years, equivalent to more than 35,000 FTE jobs per year in the UAE over the same period, the EY research added.
The sectors that contributed the most to economic activity were organizational and business services (AED75.5 billion), construction (AED31.9 billion) and restaurants and hotels (AED23.1 billion).
The pre-event phase contributed about a quarter of GVA, with activity itself increasing by almost 13%, while the legacy phase to 2042 will feel the lion’s share of economic benefits – 62%, the report said.
a huge success
20,000: The number of change-makers the Expo brought together through its People and Planet program to discuss key topics such as climate change, culture and gender
AED 6.8 billion: Contracts awarded to SMEs
1 million: Number of students welcomed as part of the Expo Schools program
140: Global innovation supported by 76 countries, affecting 5.8 million people worldwide
100%: All permanent buildings managed by the Expo are LEED rated
91%: Gold or Platinum rated buildings
717,004 tons: reduced carbon footprint (CO2 equivalent)
Reem Al Hashimy, UAE Minister of State for International Cooperation and CEO of Dubai Expo City Authority, said: “From the outset, we have committed to delivering an Expo that will bring lasting economic, social and environmental benefits to the UAE, the region and the world. , whose positive impact far exceeds the six months of activity. Despite the challenges of a global pandemic, we have delivered on this commitment.
“One year since we closed our doors, this report confirms the success of Expo 2020 Dubai – a landmark event that gave a huge boost to our country’s economy, the knock-on effect of which continues to boost our city’s international profile, driving The new business grows and attracts major global events such as the United Nations Conference of the Parties to Climate Change (COP28), which our heritage city, Dubai Expo City, is proud to host in November 2023.”
Dimitri S. Kerkentzes, Secretary General of the Bureau International des Expositions (BIE), said: “Expo 2020 Dubai and now Expo City Dubai form the indisputable platform for sustainable development in the UAE and beyond. The 182-day event surpasses all expectations, an exceptional experience for visitors and participants, and a legacy that will continue to create new growth opportunities for years to come.”
Heritage considerations were at the forefront of planning from the outset, with Dubai Expo City repurposing more than 80% of the infrastructure built for the event’s six-month run. It forms an integral part of Dubai’s 2040 City Masterplan and the emirate’s continued growth, and builds on the spirit of collective action of Expo 2020 Dubai by continuing to deliver programs, initiatives and events that attract tourists, businesses and tenants to increase further impact and economic value.
Rob Moody, Partner, Transactions and Corporate Finance, EY, said: “As the first World Expo to be held in the Middle East, Africa and South Asia (MEASA) region, Expo 2020 Dubai has achieved significant and wide-ranging long-term impact. It will serve the community in the UAE and around the world. Delivering economic, social and environmental benefits. Dubai Expo City is expected to deliver additional growth and development, and will support the more urgent strategic priorities and broader future ambitions identified by the UAE.”
More broadly, the research also showed that Expo 2020 Dubai has progressed globally, with 192 participating countries reporting significant benefits in terms of trade and business partnerships, nation branding and cultural understanding, and international diplomacy and cooperation.
[ad_2]
Source link