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Expo 2020 leads to increased business buoyancy in Dubai

Published: Updated:

Businesses in Dubai are increasingly optimistic about improving market conditions and expect Expo 2020 to lead to a positive impact for industries, according to a new survey released by the Dubai Chamber.

Most business leaders (83 percent) polled in the “Business Leaders’ Outlook Survey” said they expect conditions to improve in the fourth quarter of 2021.

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This represented a big jump from 66 percent who shared the same view in the previous quarter.

Most respondents (78 percent) also said they expect their business to benefit from the Expo in the coming months, while 76 percent have already noted improved conditions in the current quarter.

“Business confidence in Dubai reached its third-highest level in 10 years as companies in the emirate begin to feel the positive impact of Expo 2020,” Dubai Chamber said.

Billed as the biggest in-person event since the start of the COVID-19 pandemic, Expo 2020 Dubai is set to welcome more than 200 participants – including nations, multilateral organizations, businesses, and educational institutions, as well as millions of visitors – over the six-month cultural fair.

President and CEO of Dubai Chamber Hamad Buamin said the findings reflect growing optimism within the local business community and promising economic prospects that are being created by Expo 2020 Dubai.

Also contributing to the improved sentiment, Buamin added, are increased government support for the private sector, success in overcoming COVID-related challenges, new business incentives, easing travel restrictions and higher oil prices.

He said various sectors, such as trade, tourism, hospitality and logistics are likely to see the most business activity during Expo 2020 Dubai.

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