It is no secret that millions of people are anticipating the upcoming EXPO 2020 in the Middle East. This is the most diverse and inclusive Expo to be organized welcoming all countries in the world.
According to Vicente G. Loscertales, secretary-general of the BIE (Bureau International des Expositions), by inviting all countries of the world to take part, including the State of Israel, the organizers of Expo 2020 are genuinely reflecting the universal spirit of World Expos. This gives everybody a chance to showcase and contribute to innovation and inspiration to all humankind.
The UAE has gone far into creating a world-class setting and a truly global destination. EXPO 2020 gives each participating country its own pavilion. This is the first time in the 167-year history of World Expos.
“In under 77 weeks, participating nations from every corner of the planet will gather in the UAE, bringing to life Expo’s theme of ‘Connecting Minds, Creating the Future’,” said Loscertales.
With all of these taking place in the coming year created a massive opportunity for businesses around the world to connect, build partnerships, expand their reach, and grow their companies.
Here’s why your business should take part of the EXPO 2020:
✓ Domestic labor market is expected to have central changes and rapid growth
✓ Foreign entrepreneurship markedly increased resulting to a rise in investment capital
✓ Increase in Foreign Direct Investment
✓ Modern and high-tech infrastructure
✓ Massive expansion of investment prospects
✓ You can build international business relations
✓ Widen the geographic reach of your products and services
✓ Acquire effective trading channels to the markets of Asia and Africa to increase volume of import and exports
✓ Implement the latest technologies
✓ Take advantage of penetrating emerging new markets
The 6-month expo is expected to gather 25 million people. It is a mix of participants, investors, and visitors. Considering the massive number of people driven to the country, the government sees a long-term impact of investments, increase in expat residence, and a boost in the lifestyle quality of the country. In turn, all these boost a total increase in the quality of living and consumerism.
HOW WILL THIS AFFECT BUSINESSES?
There is a list of promising outlook for the businesses in the UAE brought by hosting the EXPO 2020. Overall, the coming together of countries around the world is seen to change the face and destiny of the UAE towards a much better direction.
- There will be a high impact on the tourism industry, including the food and entertainment industry in the emirates. The revenue of travel and tourism sector is expected to almost double from about Dhs67 billion in 2016 into Dhs116bn by 2027.
- The boost in tourism will impact directly the hotel, food and beverage, and entertainment businesses. Along with these are logistic companies to suppliers of different types of products, retail companies, construction, and many more.
- The boost in infrastructure connect people more than they ever were – metro stations, railways, air and rail facilities. This goes to benefit the connectivity of businesses to people.
WHAT CAN YOU DO TO GET YOUR BUSINESS IN THE EXPO 2020?
The businesses that are present in the UAE during the duration of Expo 2020 are seen to reap its benefits. That is why so many businesses around the now getting themselves to be establish a business in the UAE and grab the opportunities that this world expo brings.
Whether you are a business or an individual, you can register yourself and bid for opportunities. Individuals and entrepreneurs all over the world are welcome to submit their applications by following the process procedures. And with a proper growth strategy, you can also benefit the long-term impact of the exposition after establishing your business in the UAE .
SDAC Consulting DMCC has not only been helping companies with their application procedure, but for those who are already in, we also work with companies to build the best business growth and expansion strategies that will maximize opportunities during the expo and grow further after the event.