Dubai Expo 2020 – Why Is It the Right Time to Invest in a Startup?
A year from now, Dubai will be hosting the most-awaited event of the year- Expo2020. The world is looking forward to this world Expo and they have all the reasons to stay in anticipation. Commencing in October 2020, the expo will last for six months, until April 10th 2021. Before, highlighting the finer details of what can be expected, let’s go back and understand the rationale and vision behind this global event.
The Idea of a World Expo
Did you know that the very concept of the World Exhibition is more than 150 years old? It was back in 1851 when the United Kingdom initiated the idea of hosting an international exhibition or simply put, a World Fair. That event, known as The Great Exhibition, was introduced by Prince Albert, husband to Queen Victoria, in association with the members of the Royal Society for the Encouragement of Arts, Manufactures, and Commerce (RSA).
Later, in the following years, many other countries around the world would look to host a World Fair and each event introduced a landmark invention in technology, architecture, and commerce. The World Fair in Chicago, 1893, showcased the Ferris wheel, electricity was shared at the World Fair in St. Louis, 1904 exhibition, the Television was introduced at the New York World’s Fair 1939, to name a few.
What is Expo 2020 all about?
Next year’s Dubai Expo 2020 is based on the theme of ‘Connecting Minds, Creating the Future’ which will revolve around mobility and sustainability. The six-month-long event is expected to see a footfall of at least 20-25 million visitors, of which nearly 70 per cent is expected from outside of the United Arab Emirates.
Representatives from different nations, international organizations, investors, and other individuals will be arriving to contribute to the success of the event. The aim of this international exhibition is to celebrate innovation, that will pave the way for a future of innovation and technology.
The main event will take place at Al Wasl Plaza, Dubai South a great location to invest. Setting up a business in this new free zone will definitely bring in a lot of business, mostly due to the proximity to the Expo2020 central plaza. Dubai South is designed to support every variant of business and industry and in so creating 500,000 jobs, in the development. The region is also home to Dubai’s new airport, Al Maktoum International Airport, which is all set to receive over 220 million passengers and 16 million tons of cargo handling, all accessible from downtown Dubai and Abu Dhabi.
In addition, Dubai South enables you to enjoy easy access to Jebel Ali Port giving your business the superior edge in terms of time savings and a significant reduction in operational costs. The proximity to the port and the airport connects air, land and sea, setting a new global standard for goods handling, showcasing 4 hours from sea to air in this region.
With all things considered, the Expo 2020, is the third-largest event to happen at a global scale, after the Olympics & FIFA World Cup in 2020. Furthermore, the Dubai Exhibition 2020 will see nearly 190 countries as participants, each of whom will have their own stand at the event venue. In conclusion, Dubai Expo 2020 is all set to sweep everyone off their feet, with increased visibility for investors, which is why it is the right time for setting up a business in Dubai.
Associate Consultant, EEG