Major gains for UAE after Expo 2020 success
The UAE has concluded the “Expo 2020”, which saw exhibitors from nearly 190 countries, an estimated 25 million visitors from around the world, and several heads of state.
The fair, which began in early October and is the first in the Middle East, Africa and South Asia, has generated 25 visits from different countries around the world and 197 million virtual visits.
The international event, in which 191 countries participated, represented a milestone in the United Arab Emirates’ march on the strategic gains it made from successfully hosting the event, which strengthened its leadership position at the regional and international levels. The event was a symbol of the success of the Emirates’ soft power, its ability to influence and its active presence in various countries, societies and cultures around the world.
The UAE succeeded in mobilizing senior officials and decision makers worldwide through dozens of international conferences and meetings organized by the event to discuss and confront the most prominent challenges the world is witnessing in various fields, and to come up with recommendations and proposals that will chart a road map towards a more stable and prosperous world.
The UAE economy achieved a number of benefits during the 2020 Expo Conference, including attracting a large number of investors and business leaders from all over the world, establishing global partnerships between UAE and foreign companies, raising the rate of tourist influx to the state and reviving the hotel sector.
Economic observers expect short- and medium-term impacts on the country’s non-oil GDP, the development of a strategic partnership base with many economic entities and forces around the world, and the positive impact of infrastructure development around the fair’s headquarters.
UAE Chamber of Commerce and Industry directors praised the positive results achieved by the UAE private sector in Dubai Business 2020. The growth of business relations B2B for companies and institutions in the private sector by 75% compared to the last three years.
Because of the fair, non-Arab foreign investors pumped investments into local capital markets that reached nearly 10 billion dirhams in the first three months of this year, an indication of the attractiveness of stocks and their circulation at attractive levels despite global geopolitical tensions.
Foreign investors bought about 28.4 billion dirhams in the two markets during the first quarter, compared to 18.6 billion dirhams in the first quarter, or 9.8 billion dirhams in net terms of investment.
Observers point out that the international event made significant gains for the UAE, especially Dubai. Foremost among these was the promotion of tourism through tournaments and star visits, an image that was conveyed to the world in all languages, and that was one of the factors that attracted the public, but also for the bridges between peoples, because the slogan of the event was “Connecting Spirits, Building the Future”. The event also established a concept: sport is a way of life in society and the promotion of sustainable development goals.
