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| While Dubai has been settled as an international tourism tourist attraction the Expo will certainly significantly raise the town's portion of tourist destinations in the global arena |
It was labeled the world's biggest trade fair. Everywhere around Dubai, we can expect the Global 2022 world cup competition will be held across panels and internet sites and the emotions across the city will be up-to-date with just a day left for the announcement. However, the topic is if Dubai wins, what influence does it have on the financial system of the Emirate?
Of course, the country that will ultimately win the coveted bid will certainly gain considerable economic, cultural, technical and promotional advantages. All we have to do is look at what World Expo 2010 did for Shanghai to understand the truth behind this statement. More than 70 million visitors visited the event, significantly boosting the China tourism and tourism market, and increasing the city's GDP.
Even while the Dubai Group is waiting for the ultimate decision in the European Parliament, experts from industries speculate about the windfall effect the offer is likely to have on the economy. The UAE economy is also projected to generate more than 200,000 jobs and more than AED 100 billion in revenue between 2013 and 2021.
The effect of the decision on the construction sector is also apparent. Initially, in Jebel Ali, a bit more flexibility site will be built for World Expo 2020. The win will further accelerate the execution in the Dubai World Central Airport and the construction of mega-projects, such as MOHAMED BIN RASHID CIOS and residentials and business districts.
We know that they are already on the rise with regard to property prices. So while winning the bidding, you will certainly trigger fresh investment and stimulate building because some international exhibitions have borne some of the world's landmarks, such as the Louvre, we could also recall at least the increase in Dubai immobilization began well prior to the exposition.
If the decision is taken in favor of Dubai, hospitality will be a clear winner. While Dubai has been cemented as an international tourism destination, the Expo will certainly increase the city's share of tourism in the international arena. The increased residential and tourist expenditure will also greatly benefit retailers, opening the possibility of tourism and recreational destinations in the US and the Emirates.
The momentum for the Emergency will be tremendous if Dubai succeeds in its offer. But not winning will by no means be devastating. The economy in Dubai is robust, driven by strong foundations. In conjunction with economic growth, population and government spending in infrastructure development, the real estate sector is growing. Significant and in turn driving pricing and investment drivers, like trade, tourism, hospitality, logistics and retail, have been drive. So Dubai will continue to look ahead, irrespective of the decision tomorrow.