EY projects $42.2bn boon to UAE economy from Expo 2020 Dubai

Expo 2020 Dubai and its legacy are expected to contribute $42.2bn (Dhs154.9bn) of gross value added (GVA) to the UAE’s economy from 2013 to 2042, according to a study by EY.

The World Expo, which welcomed 24.1 million visits during its six-month run, is also expected to support more than one million full-time job-years, equivalent to over 35,000 jobs annually in the country over the under review.

EY projected that the sectors contributing most to GVA – a measure of economic productivity – are events organisation and business services (Dhs75.5bn), construction (Dhs31.9bn) and restaurants and hotels (Dhs23.1bn).

Expo 2020 Dubai projected to add AED 154.9 billion to UAE economy, support more than 1 million job-years from 2013-2042 according to an EY study.#ExpoCityDubai #Dubai pic.twitter.com/DdFDqwqP2H

— Expo City Dubai (@expocitydubai) March 31, 2023

Expo 2020 Dubai’s 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,” said HE Reem Al Hashimy, CEO of Expo City Dubai Authority and UAE Minister of State for International Cooperation.

Expo 2020 Dubai legacy

Meanwhile, some Expo 2020 Dubai attractions such as the UAE’s own exhibits, Terra, The Sustainability Pavilion, Alif, The Mobility Pavilion and the Vision and Women’s Pavilions remained open.

Legacy considerations were at the forefront of planning the global event and Expo City Dubai repurposes more than 80 per cent of the infrastructure built for the six months of the event.

The city is an integral part of the Dubai 2040 Urban Master Plan and the emirate’s continued growth and takes forward Expo 2020 Dubai through the ongoing delivery of programmes, initiatives and events that will draw international visitors.

City within city

Meanwhile, communities of apartments, townhouses and villas are being built at Expo City Dubai’, in developments named Expo Valley and Expo Central.

The sales for two of Expo City Dubai’s residential communities kicked off earlier in March, with the completion of the projects expected in January 2026. The two projects include Expo Valley, a collection of smart and sustainable villas and townhouses and Mangrove Residences, an inclusive, wellness-focused apartment complex.

Read: Sales for two Expo City Dubai residential communities now open

Expo 2020 Dubai’s ripple effects are continuing to enhance Dubai’s international profile, driving new business growth and attracting globally significant events including the UN Climate Change Conference of Parties (COP28).

Expo City Dubai will host COP28 in November 2023. The selection of the city as the venue for the climate change summit builds on the legacy and message of “Connecting Minds, Creating the Future”.

The city is set to bring on board its own projects and recently revealed exciting plans for residential developments, heralding the next phase on its journey to becoming a smart, sustainable, people-centric city of the future.

Expo 2020 Dubai was the first World Expo to be held in the Middle East, Africa and South Asia region and represented a commitment to build a brighter future for all humanity, catalysing international cooperation and cementing the UAE’s global reputation.

Read: Enjoy Expo City Dubai’s ‘Hai Ramadan’ offerings

Hai Ramadan aims to bring the community together, as it hosts an engaging celebration of the Holy Month with food, festivities and activities.

The festivities – an experiential interpretation of ‘hai’, an Arabic word with a dual meaning of “neighbourhood” and “welcome” – will run for more than 50 days, beginning on March 3.