Dubai Expo 2020 Win: Reactions From The Finance Sector

Christophe Lalandre, managing director, Dubai, Lombard Odier

“Dubai has served its apprenticeship as an Expo city-in-waiting, and now the rightful time has come for it to take the spotlight on the world’s financial stage. Like the calm before a very welcome storm, it was interesting to note how cautious the UAE stock markets have been in the run-up to today’s decision. Now the decision has been announced, the markets have given a collective sigh of enthusiasm as Dubai’s position as a global financial sector has been cemented.

“Indeed, our own research has shown that the number of ultra high net worth individuals is set to rapidly increase over the next few years – and with today’s announcement, this increase could take place even more rapidly than predicted. It is an exciting time for Dubai’s financial economy at the moment.”

Rajeev Kakar, CEO of Dunia Finance

“Winning the right to host Expo 2020 is a tremendous achievement, and both the UAE’s and Dubai’s leadership must be congratulated for having the vision to bring this mega global event to the Middle East for the very first time. There are many reasons that really lie at the heart of why UAE and Dubai deserved to win: Their impressive track record in successfully hosting major events; a world class infrastructure offering; and their unique ability to take the standards required to deliver an Expo but applying an enhanced vision.”

Eyad Al Kourdi, UAE Country Manager, MasterCard

MasterCard congratulates the residents and leaders of Dubai and the UAE for this successful bid to host Expo 2020 in Dubai. It is the extraordinary vision of the leaders that gives the city the occasion to showcase to the world that various cultures can unite behind common goals. This is a great opportunity to highlight this country’s potential and showcase globally the forward-looking innovations that Dubai is renowned for.

Dubai is already an international travel destination, with the MasterCard Global Destination Cities Index recently ranking the Emirate 7th in the world by expected international visitors in 2013. Dr. Yuwa Hedrick-Wong, our Global Economic Advisor, has indicated that winning the Expo 2020 bid is likely to place Dubai as the top city in the world.