Expo 2020 Dubai’s Legacy: $42.2bn GVA and One Million Job-Years Expected to Benefit UAE’s Economy, According to EY Study

0
490

According to a study by EY, Expo 2020 Dubai and its legacy are projected to contribute a gross value added (GVA) of $42.2bn (Dhs154.9bn) to the UAE’s economy from 2013 to 2042. The event attracted 24.1 million visits over six months, and is expected to support more than one million full-time job-years, equivalent to over 35,000 jobs annually during this period. EY identified events organization and business services, construction, and restaurants and hotels as the sectors expected to contribute the most to GVA. The pre-event phase contributed around one-quarter of GVA, while the event itself added almost 13%, and the legacy phase is projected to provide 62% of the economic benefits until 2042.

Expo City Dubai Authority CEO and UAE Minister of State for International Cooperation, HE Reem Al Hashimy, said the event was intended to provide long-lasting economic, social, and environmental benefits for the UAE, the region, and the world. Expo City Dubai repurposes more than 80% of the infrastructure built for the event and has become an integral part of the Dubai 2040 Urban Master Plan. Additionally, the Expo Valley and Expo Central communities are being developed, with two residential projects expected to be completed by January 2026. The legacy of Expo 2020 Dubai continues to attract global events, including the UN Climate Change Conference of Parties (COP28), to be hosted by Expo City Dubai in November 2023.