Dubai, one of the most favourite business hubs globally, is set to host Expo 2020 this October. It is the first World Expo to be held in the MENA region and is expected to be the largest business gathering in the world. Thousands of marketers, investors, manufacturers, traders, professionals, consultants, and industry experts will attend this largest gathering.
Expo 2020, as the name suggests, was initially planned to be organised on October 20, 2020. But COVID-19 global pandemic that disrupted movements and travel caused the expo to be postponed to October 1, 2021. As a result, the exposition will be held between October 1, 2021 – March 31, 2022. Many might be confused why it is called Expo 2020 instead of Expo 2021. The organisers have decided to call it Expo 2020 for marketing purposes.
The main purpose of expositions and exhibitions anywhere in the world has been to exhibit path-breaking innovations, achievements, inventions, new launches, future strategies and track down resolutions to fundamental challenges the world is facing. International expos are held every five years and continue for six months.
Expo 2020 is expected to attract 25 million visitors to Dubai, creating a massive opportunity in the tourism and hospitality sector. Both tourism and hospitality industries have driven Dubai’s and the rest of the UAE’s economy positively. It is one of the most influential business domains in this region, according to many surveys. If you are looking to invest in the tourism and hospitality sector, then Expo 2020 Dubai will emerge as a boon for you. To start your business in this sector, you can obtain a license from the Dubai Tourism Authority.
Additionally, as the city receives more and more tourists, the demand for hospitality services will parallelly increase. With the growth of the tourism sector, starting a hospitality business will turn out to be a viable option. It will automatically create high demand in the market. The city will require enough accommodation to shelter its visitors from everywhere. As we see, the need for hospitality is in full swing; starting a hospitality business in Dubai at this point is envisioned to be a perfect choice. A massive transformation is expected after Expo 2020.
It is pretty standard that the food and beverage industry cannot stay far behind when travel and hospitality grow. Therefore, we will see a massive change in the food and beverage industry alongside the tourism and hospitality sectors. The ability to capture the opportunity to provide food service to such a large gathering would be a one-off chance for investors who are looking to start a food business in Dubai. The options are many – a small hotel, a large restaurant, a food joint, or a food truck. Dubai has a market for all.
According to a KPMG report, Dubai’s Food and Beverage Industry is set to grow exponentially in the coming years. More than 200 Food and Beverage outlets will cover an area of 30,000 sqm at the Expo 2020 Dubai site, and around 85,000 meals are expected to be served every hour. So if you own a restaurant business and are planning to set up a restaurant or hotel in Dubai, then there could be no better time than this.
As suggested above, the Dubai Expo 2020 is expected to expand the number of business entities involved in different sectors. As a result, it will reflect on the expansion of the real estate sector to a large extent. A massive number of commercial and residential properties are waiting to be launched, which will help establish the foundation of businesses.
Dubai properties have a global demand, and Expo 2020 will emerge as an excellent opportunity for investors to set their feet in the real estate business in Dubai.
The Expo 2020 Dubai will encourage the recreation and entertainment industry in a big way. The massive gathering of people from all parts under one roof will transform the entertainment industry. The industry is expected to grab more than 45 million audiences by 2021. Some investors see a massive opportunity in this sector. In 2018 an initiative by Warner Bros., the indoor amusement park, was inaugurated in Abu Dhabi. Dubai is one of the most visited cities globally, and a perfect destination for family vacations sees a major opening in the entertainment industry.
The Expo 2020 will open many opportunities for Small and Medium-sized enterprises. According to many surveys, Dubai is amongst the top business hubs, as more than 90% of the registered businesses launched are SMEs. The SMEs in Dubai are expected to contribute 40% to the whole country’s economy.
When it comes to Expo 2020, the business owners of the SMEs can use the opportunity to spread awareness among its potential audience and reach out to them to enhance the brand value etc.
The cleaning industry in UAE will have a massive demand during Expo 2020. Post pandemic, the cleaning, sanitising and hygiene industry is expected to grow exponentially. The need has already gone high in hotels, public places, exhibition venues, commercial complexes, shopping malls, residential and commercial projects, etc.
This gives a clear picture of open opportunities for investors and entrepreneurs who seek to start businesses in Dubai’s cleaning and hygiene industry. However, you must be careful about one thing: you will need a cleaning license to carry out the business activities in this sector legally.
A large number of investors are making Dubai their home. This massive influx of investors has increased its requirement for consultant firms. Businesses need various types of consultants, starting from business setup and company formation consultants to financial, legal, marketing, advertising and office space consultants to boost the company’s growth and earn more profits. As a result, many consultancy firms are opening up every day to provide services to clients effectively.
Since the number of business enterprises is expected to grow in the coming years, the demand for consultancies will rise to meet the demand. Therefore, if you are planning to set up a consultancy firm, Expo 2020 will offer you a massive platform to come forward and set up your consultancy business.
So, if you plan to start a business in the UAE, there is no better time than now.
At OBK Business Centre, we turn out to be a one-stop place to solve your business setup, trade licensing and company formation needs. Our business experts are knowledgeable and well-versed to assist you properly throughout the process. So if you want to start a business in Dubai or any other Emirates, do not hesitate to contact us, and we will be more than happy to serve you.
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