Dubai is getting set to play host to the world between 20 October 2020 and 21 April 2021. These dates mark the start and end of the Dubai Expo 2020 – an extravagant event that will serve as a confluence of ideas and expected to be attended by 25 to 30 million people from around the globe 70% of which will be innovators and investors from over 180 countries.
The Dubai Expo 2020 is organised by BIE (Bureau International des Expositions), a global intergovernmental organisation in charge of overseeing and regulating World Expos, since 1931. The first such Expo was conducted in 1851 in London’s historic Crystal Palace. That was called the Great Exhibition of London and showcased the innovations and inventions of the industrial revolution.
The Expo 202o offers a unique opportunity for those considering company setup in Dubai. This is the first expo that will be hosted by the Middle East, North Africa and South Asia and the infrastructure added by it is predicted to add 1.5% to Dubai’s GDP over a 6 year timeline.
Many global economic experts predict that nearly three hundred thousand new jobs will be created in Dubai by the time the Expo opens up for the world, with 90% of the jobs being created from 2018 to 2020. This simply means a massive increase business opportunities in Dubai in the following sectors:
➔ Skilled and unskilled labour – The Expo is expected to have a cascading effect on the job market, and human resource business opportunities on all sectors are expected to rise in tandem.
➔ Real estate – The massive influx of people into Dubai is expected to cause an exponential boom for the established names in the construction business. The massive demand is also expected to pave the way for many new entrants in this sector.
➔ Services – Service field businesses such as travel agents, legal advisors, and law firms such as legal consultants for company formation in Dubai as well as medical practitioners and hospitals will continue to be in demand.
There might not be a better time to start planning for business setup in Dubai than just before the Expo 2020.
The Boom During The Expo
Some of the businesses expected to have improved opportunities during the Expo are:
★ Printing and packaging – The Expo is expected to place an increased demand on supplementary businesses like the printing and packaging industry resulting in phenomenal growth during the Expo period.
★ Media and advertising – All kinds of advertising and media operations will see a massive boom during the Expo.
★ Hospitality – The unparalleled number of visitors will fuel a tremendous growth in the hospitality industry.
★ Travel Agency – The high number of foreign visitors will provide a massive opportunity for the travel agents of UAE.
The Expo 2020 is also expected to act as spur for the tourism industry. The many Small and Medium Enterprises (SMEs) in Information Technology can use this as an opportunity to popularise an idea they have or a bring in a new application that could potentially lead to its massadoption. Artists and designers will be able to showcase their collection to a very diverse market. Freelancers like writers, software developers, gamers will be able to find new collaborations. Expo 2020 will generate at least a million jobs indirectly.
The Boom After The Expo
Long after the Expo is over it will continue to feed Dubai’s economy, several new projects commissioned during the Expo will find completion and those sectors that will continue to receive the results:
● Human resource services – Many cutting edge companies and enterprises visiting Dubai will choose to stay back and initiate their business operations in UAE. This opens an opportunity in the Human Resource Sector to supply the required resources for these industries.
● Construction – The large scale infrastructure projects will provide a spike in Dubai’s construction sector as well as create additional metros, roads, power plants and lead to the reclaiming of land for development.
● Energy & Water – The demand for energy and water will increase rapidly due to the increased business opportunities.
With the theme of “Connecting Minds, Creating The Future” Dubai Expo 2020 pays homage to the strategic location of Dubai as the ideal connector between East and West. Dubai Expo fosters an ideal environment for entrepreneurs all around the world to collaborate and come up with new ideas to make the world a better place.
International companies looking to set up a business in Dubai ahead of 2020 are urged to seek assistance from a local company formation expert with relevant knowledge and experience of company formation in Dubai and its many Free Zones. Make the most of this chance and start your company in Dubai to become a part of the success story of the Expo.
Get in touch with an established business setup consultant in Dubai who can help you obtain requisite permits and permissions for any venture you are interested in launching in Dubai. Most well known agencies provide company setup in Dubai mainland as well as business setup in free zones.