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It will provide healthy GDP Growth in GCC region and will be real game changer in MiddleEast,will change peoples perspective and is considered it will redfine the way people live.
However it will leave legacy behind whether the businesses will be able to take advantages
It will provide healthy GDP Growth in GCC region and will be real game changer in MiddleEast,will change peoples perspective and is considered it will redfine the way people live.
However it will leave legacy behind whether the businesses will be able to take advantages thereof:
Dubai's successful bid to host the World Expo in2020 will help boost GDP growth in the GCC region, including the UAE, as the Emirate economy is expected to witness a whopping spending of nearly $18bn over the next several years.A report from HSBC estimated that there would be a further $10bn of private sector spending to cover all the costs of putting on the Expo. The size of the public and private investments will stimulate growth and economic benefits considerably. The spending will directly impact consumption and investment growth, which in turn, will create new jobs, drawing in workers and providing a further boost to consumption. The World Expo is the third largest global event after the FIFA World Cup and the Olympics. Based on the previous experience of previous events, the Expo could attract up to50m visitors, in2020 itself, providing a strong boost to tourism and consumption.
Considering that the World Cup is being held in Qatar in2022, the combination of both events in a reasonably short timeframe should provide considerable impetus to growth in the UAE, Qatar and the GCC as a whole.
Much can be learnt and gleaned from Milan, host city of the World Expo in2015 from May1 to October31, with regards to the event buildup process itself.
the main and the most important challenge for GCC will be influx of people who will trade for what they are not. Identifying the right person for job will be tough.
very nice answer by ALAMGEER HUSSAIN HASHMI very good explanation... Nourhan Darwesh the biggest challange for other GCC countries will be the mobility of human and other resources movement or flow towards Dubai. In order to bring stability among that flow actions must be taken prior to the events. in my openion Bahrain could either be suffered or if they take good measures it can also move towards sustanibility, Qatar seems to be safer on thier GDP growth rate.
In my opinion, the challange is for Dubai not the other countries. They have to meet a lot of demands
