EXPO 2020 – The Opportunities for Potential Investor
More than 190 nations are planned to have pavilions at the six-month-long display of futuristic landscapes.
The spectacular will go until March 31, 2022 in the Emirati city of Dubai. This first-ever World Expo 2020 in the United Arab Emirates had been set from October 20, 2020 to April 10, 2021, however it was postponed owing to the pandemic.
Dubai Expo 2020 is estimated to draw 25 million people, with 70 percent of them coming from outside the country. Dubai has been chosen to host World Expo 2020, making it the first city in the Middle East to do so.
The World Expo, which is held every five years, is expected to have a significant influence on the city’s property prices and hotel sector, as well as create a plethora of economy and job prospects. In order to prepare the World Expo 2020 site, Dubai is striving hard to prepare the rest of the emirate for the large inflow of tourists that will be arriving in the region in 2020.
Experts expect that 25 million visitors will arrive in Dubai throughout the event’s half-year run. These preparations include expanding Dubai’s airports, developing new amusement parks, and improving the retail sector.
How this will impact?
Hotel, tourism, and trade growth are all on the rise. The World Expo 2020 is expected to improve Dubai’s economy by $23 billion, equivalent to 24.4 percent of total GDP and the creation of around 277,000 jobs. According to Bank of America Merrill Lynch, this would also increase GDP by 2% between 2020 and 2021.
While over 14.9 million people visited Dubai in 2016, organisers predict that 17.5 million would visit over the six months of the World Expo alone; bringing a significant boosts to the city’s tourist and hotel industries. Dubai’s hotel industry grew by an astonishing 2.7 percent year on year last year. With the World Expo in town, these statistics promise to be much more profitable.
What this entails for investors.
This is a tremendously exciting time for investors in Dubai‘s hotel business, considering the growing numbers of guests expected to visit the city for World Expo 2020.
The years leading up to the event, we are expected to witness a significant increase in demand for hotel property. There has never been a better moment to purchase, and the World Expo will only help to further cement Dubai’s position as the world’s most active hotel market. We are encouraging people to invest now, before prices skyrocket.
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