Over 76% of Dubai firms say Expo 2020 boosted business growth

More than 76% of firms in Dubai claimed Exhibition 2020 improved company growth, and 73% formed new collaborations during the six-month-long world’s largest expo.

According to a poll issued by the Dubai Chamber of Commerce and Industry, 70.6 percent of respondents used the Chamber’s networking and business matchmaking services during Expo 2020 Dubai.

Expo 2020 Dubai completed on March 31, 2022, attracting over 24 million people, with 33% of tourists coming from outside the country to see and enjoy the great event.

The Dubai Chamber of Commerce polled business organizations and business councils.

According to the poll, 47% of respondents profited from the Global Business Forums series, while another 47% benefited from bilateral business contacts established at Expo 2020 Dubai.

The report, titled Business Integration for Growth, Digital Transformation, and Global Partnerships, was created by the Chamber in collaboration with Oxford Business Group. It emphasized the role that Expo 2020 Dubai played in catalyzing business growth in the tourism and hospitality sectors in the emirate, as well as the increasing number of international visitors.

It found that revenue per available room (RevPAR) in Dubai grew to Dh460 ($125) in January 2022 from Dh293 ($80) in January 2021, representing a 56.3 percent rise and beating Milan, the host city for Expo 2015, which achieved RevPAR of 54.5 percent in 2015.

In January 2022, there were 759 hotels, up from 711 in January of the previous year. During the same month this year, there were 3.04 million visitor nights, compared to 2.65 million in January 2021.

Hamad Buamim, president and CEO of Dubai Chambers, described Expo 2020 Dubai as a historic milestone for the UAE and Dubai.

“Our goal is to be the best chamber in the world when it comes to driving competitiveness and growth. At Expo 2020 Dubai, we have been able to put this mission and vision into action. Our efforts in supporting the mega-event have helped to strengthen Dubai’s reputation as a place to do business,” he said.

“Building on our long-term strategy to embrace digital transformation, we adopted a hybrid format for the Expo 2020 events. Doing so has enabled us to expand our reach and engage with public and private stakeholders from around the world,” he said.

Tourism, commerce, transportation, travel, and financial services, as well as the digital economy, are expected to be significant development engines, according to Buamim. He expressed his optimism that Dubai’s investments in innovation and technology will fuel long-term economic growth long beyond Expo 2020 Dubai, noting that the mega event’s success will cement Dubai’s status as a worldwide business and innovation powerhouse.