A number of UAE residents see Expo 2020 as a game changer

*According to a survey of over 1000 UAE residents by research company

• High level of interest amongst residents, businesses and investors
• Tourism, hospitality and real estate are the sectors to benefit most
• Growth expected in new businesses and employment opportunities

There is a game changing shift in the mind-set of some UAE residents (nationals and expats), businesses and investors as these stakeholders express huge interest in Dubai’s successful bid to host the World Expo 2020, revealed a survey of 1000 residents by strategic research company, Insight Discovery. This is however a small number of participants in comparison to the country’s population of about 8 million people and should not be considered as a major indicator.

Key findings of the survey are:

• Majority (95%) of the respondents are interested in the Expo, out of which 62% expressed strong interest, and 88% said it will impact their lives positively
• 40% strongly agree that they fully understand what Dubai Expo 2020 involves, another 49% somewhat agree. Of the 11% or so remaining, only 2% strongly disagree
• 52% of respondents strongly agree that Dubai Expo 2020 will have a positive impact on their lives, another 36% somewhat agree
• 58% of respondents strongly agree that they would like to know more about Dubai Expo 2020, another 33% somewhat agree

Respondents in the survey were asked to identify the sectors which would most likely be the beneficiaries of Dubai Expo 2020. Sectors which received favourable mention included advertising/media/communications, financial services, real estate, retail, telecoms, and tourism/hospitality. It was widely believed that real estate and tourism will most likely be the major beneficiaries of Dubai Expo 2020. However, 40% of respondents also identified the financial services sector to be another leading beneficiary in the coming years.

Unsurprisingly, over 60% of respondents had a favourable outlook for tourism growth in the years (2018-20) closer to Dubai Expo 2020, in comparison to the earlier period (2016-18) where tourism were predicted to grow by 33% to 40%. Many (61%) of the survey respondents were found to have a strong opinion on the tourism potential of Dubai Expo 2020 as the event is estimated to attract nearly 25 million visitors. Another 30% agree that it will boost tourism since Dubai has an established infrastructure.

In the survey, 73% of the respondents believe that the UAE’s financial services sector will cope easily with the opportunities but challenges may arise. On the other hand, 57% of those surveyed think that the impact of the event on local banks will only be moderate, given that three quarters of the 25 million visitors to Dubai Expo 2020 will come from outside the UAE.

In terms of employment opportunities in the UAE, 57% of the respondents think that the EXPO 2020 will lead to a positive impact with more job creation and new businesses. Meanwhile, 91% strongly believe that EXPO 2020 will lead to a rise in the general cost of living. Interestingly, 16% doubt whether the event will be delivering benefits after it is over.

This survey raised US $5,000 for the Philippines’ Typhoon Haiyan Fund, led by Islamic Relief.