Dubai is one of the most prosperous business hubs in the world and is projected to grow exponentially in the coming decade. In 2020, the UAE celebrated its 50th anniversary. In line with this milestone, Dubai was selected to host World Expo in 2021, after being postponed due to the pandemic. Now just over its first month, the Expo has seen 2.35 million visitors with 17% of those coming from overseas. Not only is this a good indicator of its success, this also points to the growing interest that foreign investors have in the city.
What is the World Expo?
The World Expo is the world’s most important event for emerging technologies, sustainable development and creative innovation. Hosting thee region's first World Expo a key milestone in Dubai's development journey. After winning hosting rights from the International Exhibition Bureau, Dubai has hosted 3 smaller expositions in 6 years.
Dubai has been making a name for itself in the past few years, and not just because it's an extravagant tourist destination. Dubai is quickly becoming a global hub of commerce and trade. With a population of almost four million people, Dubai has grown from a small fishing village on the coast of the Persian Gulf to one of the most vibrant and dynamic cities in the world. Dubbed as a "global city," Dubai has become a major tourist destination attracting millions of visitors every year.
Importance of World Expo 2021 to the region
The UAE's Dubai Expo 2021 is a vital event for the country as it offers business opportunities to companies such as hotels and restaurants. Because of this, industries such as real estate has experienced a positive impact, with investors flocking to the country. The Expo is expected to attract over 25 million visitors during the 6-month duration, which would make it the world's most-visited event in history. This is significant because it will increase the number of people in the workforce and make up for losses in migration. The World Expo is an international event held every five years. It was started in 1851 during the Industrial Revolution and this current event is the first ever held in the region. The 2021 World Expo promises to have a huge impact on the regional economy by sparking new investments, attracting tourism, and providing new opportunities for innovation.
The Dubai property market is very different from other countries in the world. Making sure you have a Dubai real estate agent you trust to guide you through the process is vital.
The World Expo is a global event with the purpose of striving for innovation and sustainability. The UAE has been trying to bring it back for the past 15 years and now that they finally have, this event will be immensely important to Dubai's economy as well as tourism and real estate.