The positive impact of EXPO 2020 on UAE's market

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Expo 2020 is one of the largest events and majorly contributed to the recovery of an economy that is visible as we see how much Dubai is recovering in all the spheres of life. The opening of the world's greatest shows Expo 2020 retained an exemplary response and approximately 411, 768 ticketed visitors.

Expo 2020 has positively contributed to and improved the business confidence coming from the higher levels of the public and private sectors. This leaves a positive impact on the local business community and promising economic prospects are taking place in Expo 2020 Dubai. 

The onset of the six-month-long Mega Event has become one of the key economic indicators and allowed the local businesses to reach 10 year high. The optimistic approach and confidence contributed positively to the fourth quarter of 2021 businesses have retained 10 percent higher revenue than the previous quarter.

The business leader of UAE is expecting an improvement in the business conditions as compared to the previous quarter's earnings. The credit for these earnings solely goes to the mega Expo 2020 event. The beneficiaries were major consumer-related sectors. All credit goes to the higher spending by residents and foreigners residing in the UAE.

The opening of UAE borders is one of the contributing factors as foreign visitors are spending exponentially which is helping the economy to recover at a higher rate. The rise in business confidence is leaving a positive impact on the market in some of the key sectors such as travel, tourism, and hospitality.

The growth of this industry opens up various opportunities as people can rent their places as holiday homes, or turn them into BNB which provides huge revenues. Signature Habitat has the prominent space available in UAE for sale in the prime location that is setting up a travel business, hotels, or stay homes, and the list goes on.

The businesses have received immense sales in the first two weekends of Expo 2020 and the sales figures have touched the sky. The UAE Government has seen enthusiasm and support by helping the general public overcome covid-related challenges, providing new business incentives, opening up borders, zero travel restrictions, and changes in oil prices were some key factors that positively contributed to the UAE’s economy.

The revenue from EXPO 2020 in six months entirely changed the spectrum and allowed the economy to grow at a higher pace. The data has also shown it has left a positive and considerable impact on businesses. Many local businesses have emerged and taken steps that contributed positively and led to high sales. 

However, the transition of Expo 2020 to District 2020 is the leading factor that will continue to benefit the UAE in the long run. The small, large events and conferences alongside the Expo 2020 will affect the consumer and businesses and also allow the economy to recover at a faster pace from the impact of the COVID-19 Pandemic.

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Signature Habitat Properties LLC is a property brokerage company registered in Dubai – UAE (License No. 861348). We are regulated by Real Estate Regularity Agency under office No.2608, Concord Tower Dubai Media City, Dubai - UAE

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