With hundreds of projects on the way and billions of dollars investments, Dubai is preparing to host the largest or at least the most expensive World Expo in the history so far. While in terms of area covered, it falls behind the record-breaking Expo 2010 in Shanghai, at an operating cost of $2-4 billion, World Expo 2020 will be the most expensive world’s fair ever hosted.
- Read more: What to expect from Dubai Expo 2020
Dubai will be constructing a 4.4 sq. km. exhibition site at Jebel Ali Dubai World Central, near the emirate’s new Al-Maktoum International Airport. It will be the first ever world’s fair held in the Middle East and North Africa region and has earmarked $7-8 billion in capital spending.
According to estimates by construction industry consultants, the secondary infrastructure spend will be upwards of $8 billion and will provide a significant boost to the national economy, most notably in the construction sector.
$1.36 billion will be spent solely on the planned expansion of Dubai Metro Red Line, which will connect the city to Dubai World Central, the Road and Transport Authority has announced.
Emaar Properties on the other hand revealed their plans for developing a huge golf-centered residential community of about 13.63 mn. sq. m. close to the Expo site. In the near future, a number of new large infrastructure projects are expected to be announced by major developers.
All this is believed to provide many opportunities for businesses in different sectors – construction, hospitality and tourism, transport, retail and services. Experts expect the preparation and the Expo itself to create up to 300,000 new jobs, which will greatly impact not only the employment sector in the city, but the entire economy of the UAE. And around 30% of these vacancies will be in construction.
Although the plan for Dubai Expo 2020 claims it is going to be the largest world’s fair ever, the numbers do not yet match the largest reported so far. Several past expos have covered similar area, but Shanghai is holding the record with its 5.28 square kilometer site of exhibition area, when it hosted Expo 2010. The event also saw a record number of visitors – more than 73 million people attended the fair during its 184 days and on 16th October 2010, the event set a single-day record of more than 1.03 million visitors. In comparison, the 200-hectare Expo 2015 in Milan is expected to attract up to 20 million people for a period of six months, while the predictions for the 440-hectare Expo 2020 in Dubai are up to 20 million visitors for six months.
However, the fair hosted by the emirate will be the most expensive in history. While Shanghai spent nearly $2 billion on the event, its cost in Dubai will probably reach $8 billion.
