Arqaam Capital (“Arqaam”), the specialist emerging and frontier markets investment bank, expects Dubai Expo 2020 to add USD 23.4bn to the UAE’s GDP, boosting it by 5.0%.
Jaap Meijer, Managing Director – Research at Arqaam Capital, said, “Dubai Expo 2020 will be bigger and better than the recently concluded Milan Expo 2015, with a more pronounced effect on GDP. While Expo 2020 is expected to cost USD 9.4bn to stage, almost double the investment of Milan Expo 2015, we see it as an overall positive stimulus to the economy. We expect an increase of government revenues in the UAE of USD 2.9bn (0.6% of GDP), given the larger scale of Expo 2020 compared to Milan 2015. Our research also suggests that the increase in consumption and tourism related directly to Expo 2020 will boost the UAE’s GDP by USD 23.4bn, 5.0% of the total, almost four times the value of public investments.”
Expo 2020 is scheduled to be hosted by Dubai in an area next to Jebel Ali. Spanning 438,000 square metres, Dubai Expo 2020 will be 10% larger in size than Milan Expo 2015. UAE officials are expecting to welcome 25 million visits to the event, five million more than Milan Expo 2015, and for it to create 277,000 jobs, most of which will be in the tourism industry.