SALUTES AND DUBAI RENTED, GETTING THE RIGHT OF HOLDING THE EXPO-2020 EXHIBITION IN HIS OWN TERRITORY, DELIVERATELY STARTED THE CALCULATION OF EXPECTED DIVIDENDS. There was no doubt that the winner of the exhausting race for the right to shelter in 2020 the world exhibition will be Dubai. I don’t know how it is, in the distant Ural Ekaterinburg, but in the United Arab Emirates everyone was sure of this - from small to large. Moreover, it was not a timid hope “what if you're lucky?”, But a firm conviction - the largest world exhibition show in 2020 will be held in Dubai.
But be that as it may, an element of competition was still present, and when in the evening of November 27, 2013 the official results of the secret ballot held in Paris were announced, the United Arab Emirates simply exploded with joy. Everyone rejoiced - from the president of the UAE to an ordinary civil servant, from the ruler of the emirate of Dubai to a school teacher, from the south of the country to the very north.
And when the first wave of joy came down, the question arose - who really benefited from the victory of Dubai? On the pages of local newspapers, on the air of radio stations and on social networks, a lively discussion unfolded - who will live well from Expo 2020? Visitors to the Russian Emirates Forum (www.ChatRu.com) did not stand aside, having drawn up their own list of winners and losers in a heated debate.
The first place among the "beneficiaries" was, of course, the emirate of Dubai itself, whose foreign investment in the economy will amount to about US $ 35 billion. Next come the construction companies - US $ 24 billion will be invested in the construction of hotels, nine more - in the construction of shopping centers . And this is not counting the cost of building the exhibition complex itself, which will spread over an area of 138 hectares! Everything will be fine in the tourism sector - not only money from 16 million visitors to the exhibition will settle in their pockets, but they will also receive an updated and significantly expanded tourism infrastructure. Airlines will also earn on guests - the lion's share of tourists gets to the United Arab Emirates by air.
Regarding investors in the emirate’s residential projects, the opinion of the members of the forum was divided - some believe that they will also be in the black. However, most reasonably believe that only those who already own real estate will benefit. This is certainly good, renting out apartments is 10-25 percent more expensive, but in order to have something to rent, you must first buy them.
And market prices rushed up. Plus to minus, as they say.
The profit forecasts for the remaining categories of business are almost the same - average. Yes, the news of the victory of Dubai has already stirred up the market, and additional capital will definitely come to it, which will have a positive effect in any field - in trade, education, medicine, transport ... At the same time, expenditures on the budget of companies will also increase - rents will probably go up in price, new duties and fees will appear (the state needs money for construction), fuel and electricity will rise in price.
And most importantly, staff costs will increase, which will also need to pay ever-increasing bills for rental housing, children's education, medical services and everyday goods. The modern world, of which the United Arab Emirates are a part, lives today according to capitalist laws - as soon as additional income appears somewhere, the inevitable correction in the form of an increase in spending immediately begins.
But there is no reason for discouragement! Dubai really got a winning ticket, which it will definitely profitably manage. We, the inhabitants of Dubai, are waiting for interesting times, new projects, new initiatives and new achievements. And since most readers of our magazine will pick up this issue immediately after the New Year holidays, let's consider these words as our New Year wishes.
May each of us get only the best from the victory of Dubai in the race for Expo 2020, and all problems and possible domestic troubles will bypass us! We sincerely hope that part of the 17 billion US dollars that Dubai will “earn” at the exhibition will certainly settle in our pockets!
Happy New Year 2014 and see you soon!
FIGURES AND FACTS
- Government investments directly related to Expo 2020 will amount to about US $ 8–9 billion
- Total investment, including the private sector, will be about US $ 43 billion
- About 25 million people will be guests of the exhibition, which will last 6 months, 75% of which will come from abroad.
- In connection with Expo 2020, the number of residents of Dubai will increase by more than half a million people.
- Before the victory, Dubai intended to bring the number of guests of the emirate to 20 million by 2020 and laid this figure in its development strategy.
