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Deloitte experts believe that Expo 2020 Dubai will be a major “game changer for Dubai” whereby it will create significant changes — whether opportunities or challenges — in most industries and market sectors that could spill over to other countries in the region.
“It is clear that Expo 2020 will go beyond a local showcase of commerce, technology and infrastructure, however impressive these things may be,” said Mutasem Dajani, Deloitte UAE regional managing partner.
He adds: “Dubai will itself become an agent for future global progress as securing sustainable energy and resources, connecting and moving people, goods and services across markets and exploring the intrinsic spirit of entrepreneurship come together in a location that is uniquely synonymous with achievement in each of these areas.”
Humphry Hatton, CEO of Deloitte Corporate Finance Limited (DCFL) regulated by the DIFC, addresses international investments in the region and adds that hosting Expo 2020 in Dubai will “further the attractiveness of Dubai as a base for overseas companies wishing to invest in the Middle East.”
Anis Sadek, Dubai managing partner at Deloitte points out that, “It only takes a quick analysis of the impact of an expected additional 20 million international visitors over a six-month period to see that significant investment in hospitality and retail infrastructure will be required.”
Rashid Bashir, head of the strategy practice at Deloitte Middle East cautions that “it would be beneficial to develop a dedicated legacy plan to ensure that the event’s potential as a catalyst to transform Dubai’s economy is maximized”.
Their views are grouped in the report “Expo 2020: A game changer for Dubai”, and “Countdown to FATCA” available in the spring 2014 issue of the Deloitte Middle East Point of View (ME PoV) publication which also includes the views of other Deloitte partners and industry experts Cynthia Corby, Akbar Ahmad and Jesdev Saggar on the impact of Expo 2022 in the construction, financial services, and infrastructure and capital industries.