The upcoming Expo 2020 brings forth massive opportunities for businesses – big and small. It could lead to significant investment in the region through people and investors moving or expanding their businesses here when done right.
If you are growing a business in the UAE, many will agree that this world event will boost your investment.
It is the biggest event yet for Middle East and is already bringing much-needed positive attention the region.
With the event binging huge visitors, attention, investment, and boost to the economy, it is crucial that businesses prepare a strategic plan on making the most out of these opportunities before it passes.
Here are important points to know about Expo 2020 and how you can take advantage of it.
· UAE is expecting 25 million visitors
With this number of people coming in and out of the country in the span of 6 months, there is a high opportunity to showcase what the UAE has to offer especially to people/companies who are exploring UAE and reasons to move or invest.
What this means for your business is that there should be a strategy in place that renders focus on building relationships and connections face to face. These connections will bridge you to potential collaborations and closing business deals.
· New frontiers
The UAE is already known for tourism and hospitality. But the Expo 2020 will open new doors for the world to see the capability of the country in terms of successfully hosting businesses in different sectors and industries such as construction, finance, sustainability, and many more. This will prove the country as an excellent place to be in growing a global business.
Businesses can take advantage of it by being prepared to be seen and connected with. The competition among local businesses will be high in terms of connecting with prospects. But you can rise above this by having a strategic approach of building connections, closing deals, and most importantly being capable of delivering the anticipated demand for products and/or services in your industry.
· Expo 2020 site will become District 2020
A huge point of the discussions about Expo 2020 ever since Dubai was chosen as the hosting city is making sure that the site remains useful after the event. After the 6-month expo, the site will start its transformation into becoming as District 2020. It will feature offices, residential spaces, cultural attractions, leisure amenities, parks, and many more.
The government is making sure that it is accessible by funding new roads, rail links, and expanding the airport capacity to accommodate more people. This boosts the logistic framework of the United Arab Emirates to efficiently compete with other international business centres.
A boost to the economy is a boost for businesses in it. What this means for your business is that as more people are driven to the UAE, your potential market also increases. Alongside, consumerism is seen to continually rise and consumption of goods and services will grow in parallel.
· Economy is expected to hit US$25 billion
The expo is seen to generate revenue up to $35 billion USD and foreign investments of up to $150 million USD are likely to hit the UAE through sectors like real estate, hospitality, and retail.
While the past 18 months has been a slope for the country’s economy, the expo will serve as the foundation and platform for future growth. This also serves as a bold statement to the world that the region is in a speedy recovery. This is one of the reasons why this time is ideal for many businesses to set up or expand in the country.
If you have been thinking of expanding your business in the Middle East or setup your business in the UAE, we believe that the next year is the best time. With efficient and well-planned strategy, you can take advantage of the huge amount of business deals on it’s way to the region.
For guidance in market research in the UAE, setting up a business, or corporate strategy, SDAC Consulting DMCC has been guiding companies from around the world for 10 years. Get answers for your questions by signing up for our FREE consultancy session. CLICK HERE to book.
You may find out about EXPO 2020 events by clicking HERE.
What are the 10 Strategic Business Objectives of a Successful Company?