COUNTDOWN TO expo 2020

Countdown To Expo 2020 Dubai: Big Opportunities in Store for Investors

Expo 2020 is finally happening after being postponed by a year due to the Covid-19 pandemic. The mega event of gigantic proportions is likely to revitalise the environment of business setup in Dubai by creating far-reaching economic benefits. Typically, the hosts are poised to benefit from the Expo as evidenced by the history of the event. The Expo has positively impacted the GDP of the previous hosts such as South Korea (2012), Italy (2015) and Kazakhstan (2017).

If this trend is to continue, it will instil new energy into many business sectors in Dubai, especially the industries hit hard by the pandemic.  Furthermore, it’s the best time for entrepreneurs to explore profitable opportunities for company formation in Dubai in the backdrop of new reforms such as 100% foreign ownership, Green visa, Golden visa, Freelancer visa etc. These reforms have made it easy for foreign investors to shift their base into the UAE and the Expo 2020 will make that shift worth the effort. Keep reading to understand the business opportunities offered by Expo 2020.

Business Network Opportunities for Investors 

It is estimated that the Expo 2020 event will see the participation of around 25 million visitors from 190 plus participant countries. Entrepreneurs or investors planning to start a business in Dubai May find it the most opportune time as they get a golden opportunity to meet and network with potential investors. The Expo 2020 venues will be populated by high-ranking government officials, business magnets and top professionals. Such a big exposure will open the doors for building real business connections and ensuring visibility in local & international markets. Consult with business setup consultants in Dubai to establish a company here.

The Best Venue for Brand Building 

If you have a business that needs more exposure or visibility, you can leverage Expo 2020. Expo 2020 is the best venue to launch a new product or hold a business conference. Local UAE companies can explore the venue for seeking expansion into other profitable markets. Similarly, international companies can meet the local businessmen to gain a foothold in the UAE or GCC markets. In short, by brandishing your products or services in the Expo venue, you will gain more business prospects or even potential investors.

Benefits for Real Estate Sector 

For Dubai’s rebounding real estate market, Expo 2020 brings the cherry on top. The housing sector prices were declining since 2014 and bottomed out during the COVID-19 pandemic around November 2020. However, there was a rebound in demand since the world realised the pandemic is here to stay for a longer time. Many people rushed to make Dubai their second home, upset over the extended lockdowns in their home country. They were especially impressed by the way Dubai tackled COVID-19 with an official lockdown that lasted only a few weeks in the first wave.

Since the Expo has been added to this mix, the rebound in the real estate sector is likely to be extended. Experts in the sector believe that 2022 will be a great year for the sector, taking into account the impact of Expo 2020. In tandem with the demand for residential real estate, the demand for office & commercial spaces is also predicted to skyrocket due to Expo 2020.

The inflow of Huge Investments 

Expo 2020  and its legacy is expected to contribute more than AED 120 billion to the UAE’s economy. As per a report by Ernst & Young, the world fair will support up to 905,200 full-time equivalents (FTE) job-years in the UAE in the period extending to 2031. Job years is defined as full-time employment for one person for one year and describes the employment impact over the life or phase of a project. The positive impact of Expo 2020 will continue in the decade after the Expo concludes as they will transform the venue into an integrated urban development called District 2020. The District 2020 will also house the Dubai Exhibition Centre (DEC).

Dubai Hospitality Sector to Rebound 

The millions of visitors coming to Dubai to participate in Expo 2020 will revitalise the tourism sectors, especially the hospitality and F&B businesses. Expo officials expect that 70% of the total visitors will be from outside the UAE and this will increase the hotel bookings. The same impact will reflect in the revenue of F&B businesses in Dubai. COVID-19 has weakened these sectors but the Expo 2020 will put the tourism industry right back on the map of business setup in Dubai.

Make the Best of Expo 2020 with Jitendra Business Consultants  

Expo 2020 is only a few days away and Dubai has already started to witness a rebound in economic activities. With flights reopening to many previously ‘COVID-19 red list’ countries, the expected boost to the environment of business setup in Dubai is certain. As opportunities open up in various sectors, this is the right time to set up a business in Dubai. However, the advice of business setup consultants in Dubai such as Jitendra Business Consultants (JBC) will come in handy for the entrepreneurs to correctly pinpoint the opportunities and execute a sound business plan.

JBC is one of the best business setup advisers in Dubai with an impeccable track record of helping thousands of entrepreneurs realise their vision. Our consultants help the investors make strategic decisions such as choosing between free zone and mainland options of business setup in Dubai. Moreover, JBC skillfully executes critical actions like selecting the proper company structure & activities, applying for a business license, drafting legal documents, applying for visas, choosing the office spaces, opening a bank account in Dubai etc.