Dubai’s Expo 2020 to Promote Recovery of UAE’s Non-Oil Economy: Oxford Economics

Expo 2020, a global event to be held in Dubai, United Arab Emirates (UAE), commencing on the 1st of October 2021 is predicted to promote a robust growth in UAE’s non-oil economy, according to Oxford Economics’ analysts in the Middle East Economic Insight report for the third quarter of 2021. The Expo 2020 will be coupled with inventive initiatives by the Government of the UAE to achieve economic growth.

Why it Matters?

Through the Expo 2020’s effect on the supply chain as well as the spending it supports, travel and tourism in the UAE, which makes up 16% of the Gross Domestic Product (GDP) is anticipated to get a boost. Michael Armstrong, Regional Director for the Middle East, Africa and South Asia, Institute of Chartered Accountants...