It is no doubt that the Dubai Expo 2020 has created a considerable buzz and a lot of people have been speaking out their views regarding the Expo. Some say it is going to do great for the market while the others are not of the same belief. In this article, we will dig deep into the Expo and will see what it will do for the market and the nation as a whole.
A lot of you will have the question, what happens in an expo and what it is. An expo is a global event dedicated to finding solutions to fundamental challenges humanity faces. It is done by offering a journey inside a chosen theme through engaging and immersive activities. This event brings together countries and is facilitated by governments. This helps it to get attention from a lot of people which means it will have millions of visitors, create a lot of energy and bring about a massive change in the host country.
Dubai expo is one of its kind and has an ambitious desire of showing the world that the city can build first-world technology at the lowest tax rates in the world. Dubai has a first-world infrastructure where businesses can make products at a fraction of the price when compared to other first-world economies. The Expo Expo 2020 will be a gateway for industries to a new market for all businesses. It is the best platform for companies to develop a relationship with other nations. Apart from that the percentage of visitors that Dubai will receive in the year 2020 is going to be massive, which is excellent for newly setup tourism companies.
Some of the ways it will impact newly set up business and entrepreneurs are as follows:
It is a great platform to boost real estate. For example, the iconic Eiffel Tower was revealed in the 1889 Paris event; to this date, the structure remains a great tourist attraction. Due to such instances, the host country will start developing more of such buildings or landscapes which means the real estate market will pick up. The number of jobs in that particular field will increase and knowing Dubai will hire the best talent in the market.
It ensures collaboration between societies – The year 2019 was declared as the Year of Tolerance by Sheikh Mohammed and for a good reason. Only when the nation tolerates people from all communities and cultures will the people be comfortable to work in the country and when people are at ease, they do their best work. When people from all nations collaborate and brainstorm on how they want to make the show a success, they bounce off all kinds of ideas and end up choosing the best from the lot.
To add to the excitement, Dubai is the first city in the Middle East, Africa, and South Asia to host an event like the Expo. Unlike the Olympics, where the economy sometimes hit a downturn, Dubai’s Expo is set to act as a catalyst for growth. There are an expected 25 million people coming into the country to witness the ExpoExpo. With such a considerable number coming in, it is an excellent opportunity to promote and sell what Dubai has to offer. Additionally, this will also have a positive impact on the economy. According to Reem Al Hashimi, MD, Expo 2020 Executive Body, Dubai’s Expo 2020 is expected to yield $24.2 billion in revenue.
Dubai has always been compared to economies bigger than us when it comes to doing and closing deals. The Expo will allow showing the world firmly how and why Dubai is one of the best economies and why people should invest here.
It is a known fact that in business, we make the best connections face to face. The ExpoExpo will be an excellent platform for new companies in Dubai to interact with companies all over the globe. Therefore, it is safe to say that the Expo will be a unique platform for networking.
Another primary concern for businesses is infrastructure; while Dubai already has an excellent infrastructure, the government is investing more in it. They are funding new road and rail links, expanding its airport capacity to accommodate the influx of visitors. This means Dubai will quickly have a tremendous logistical framework to compete with other international business centers. The government is also making the tax-free zones one of the best places to set up newly established businesses. If you are a trading company and deal with a lot of export and import, DAFZA will be an excellent location for you. Strategically located near the Dubai international airport they boast of rapid clearance and fast processing of paperwork to maximize business activity and efficiency.
You, as a business, will get some of the best talents in the world to work for you. It has been projected that the Expo Expo alone will create about 270,000 new jobs which will attract a lot of people around the globe. You can not only make your products at a fraction of the price when compared to the other first-world economies, but you will also have some of the best talent working for you.
If you are looking at starting a business in the UAE, DAFZA is one of the places you should look at. They are one of the most prestigious and advanced free zones in Dubai. They provide an ideal base to do business in the Middle East by providing a business-friendly environment, world-class infrastructure, tax exemptions, and full repatriation of earnings, total ownership, and exceptional facilities.
Kazim Raza is a Digital Marketer & Content Strategist at CXUnicorn which is one of the top digital agency of UAE.