Expo 2020 Dubai projected to add AED154.9 billion to UAE economy from 2013-2042

Expo 2020 Dubai projected to add AED154.9 billion to UAE economy from 2013-2042

DUBAI, 31st March, 2023 (WAM) -- Expo 2020 Dubai and its legacy are expected to contribute AED154.9 billion (US$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 (AED75.5 billion/US$20.6 billion), construction (AED31.9 billion/US$8.7 billion), and restaurants and hotels (AED23.1 billion/US$6.3 billion).

The pre-event phase contributed around one quarter of GVA, the event itself added almost 13 percent, while the lion’s share of economic benefits – 62 percent – will be felt in the legacy phase through to 2042.

Reem Al Hashimy, 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.