The mega expo will average around 50,000 jobs per annum.
Published: Mon 15 Apr 2019, 12:00 PM
Updated: Tue 16 Apr 2019, 1:08 AM
The Expo 2020 and its legacy will contribute around Dh122.6 billion to the UAE's economy during 2013 to 2031, according to a study by EY released on Monday.
The mega expo is expected to support around 905,200 full-time equivalent (FTE) job years across the UAE during the period.
Key sectors that will be impacted by Expo 2020 and where most of the new jobs will come up in will be event management, services, construction, transport, storage, communication, retail, F&B and hotels, EY analysts said at the launch of the report.
The study estimated that around Dh37.7 billion is likely to be contributed to the UAE by Expo-related activity in the pre-Expo period.
The study found that the mega event will contribute around Dh22.7 billion to the UAE during the 6-month Expo 2020 period. This contribution will mainly come through ticket purchasing, infrastructure maintenance and F&B spending by visitors. It is estimated that around 25 million visitors are visit the Expo 2020.
During the legacy phase, the Expo 2020 site will contribute Dh62.2 billion to UAE's economy, mainly through on-site investments, operational costs, offsite investments, maintenance and employment.
The study found that the District 2020 - which is part of the legacy era of post-Expo, will be fully occupied by 2030. "Once District 2020 is established then the economic impacts will be long term," the analysts said.
-waheedabbas@khaleejtimes.com
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