UAE may net Dh139bn from Expo 2020

The UAE could net a whopping Dh139 billion from the Expo if Dubai wins a bid to host the prestigious world event in 2020, a UAE minister said in remarks published on Friday.
 
Although the country already has an advanced infrastructure, Dubai could still invest around Dh25 billion to host the six-month event, which could be held for the first time in a Middle Eastern country, Minister of State Reem Al Hashmi said.
 
In an interview with the London-based Saudi Arabic language daily Al Hayat, she said the Expo for which Dubai is vying along with three other world cities would also benefit the UAE in terms of work opportunities as it could create 280,000 jobs.
 
“A study by the Oxford Business Group showed that the expected revenue from hosting Expo could reach €28.8 billion (Dh139billion),” she said.
 
“The event will also create nearly 280,000 jobs in the UAE between 2013 and 2021…as for investment, we expect to spend around €5.2 billion (Dh25bn) on projects to host Expo and ensure its success.”
 
Hashmi, who heads a committee entrusted with overseeing the Expo event, said Dubai has been shortlisted for hosting the world’s largest trade fair given its advanced infrastructure, strategic location, good reputation and large resources.
 
“The UAE enjoys a massive potential in the infrastructure, supply and logistic fields…it is already a global trade, tourism and business centre….what also distinguishes Dubai is its advanced and numerous logistic facilities, including airports, ports and sophisticated road network,” she said.

Follow Emirates 24|7 on Google News.