Dubai is ranked among the leading business towns of the world. In fact, Dubai outshines earlier established cities such as Bangkok and Milan. A recent report revealed that the business hub features in the top 15 centres known for business from different parts of the world. Over the last 10 years, the focus of the city has been to attract numerous international investors and firms from various sectors. In addition, the government has been instrumental in the growth and development of Dubai into a business hub. For example, several government schemes and tax breaks have been established as bait for foreign investors. On the other hand, the city has an excellent and integrated infrastructure which acts as the popularity-driving factor. No wonder, Dubai won the bid to host Expo 2020.
Where will the Expo 2020 Be Held?
The Expo 2020 Dubai is scheduled to start on 20th October 2020. This season’s theme for the expo is “Connecting Minds, Creating the Future”. It will be held in Dubai South on a 4.38 sq. km piece of land, near Al Maktoum International Airport. It is estimated that the Dubai Metro Route 2020 will accommodate about 46,000 passengers an hour either way from Dubai Marina to the site of the expo. The majority of the activities, especially the most significant events like the opening and closing ceremonies, will be held at Al Wasl Plaza.
Why is Expo 2020 Important?
Dubai won the bid to hold Expo 2020, and this comes with a lot of benefits for UAE and the world. Dubai will host over 180 nations, education institutions, organizations, and multinational companies for the Expo 2020 that is scheduled for October 2020. Out of the scheduled participants, more than 70% of them will be from outside the United Arab Emirates and this makes this expo one of the most inclusive expos there has ever been since the start of the world expos 166 years ago.
Throughout its history, the UAE has shown the world what is possible through its remarkable development. With the Expo 2020 in Dubai, a lot of positive changes, some of which are listed below, are expected:
Expo 2020 will be a celebration of creativity, innovation, humanity and world cultures. It will be a time to create and renew connections that will strengthen and deepen through 2020 and beyond. It is a time to be awed by the spectacular events programme and a time to do business.
- Expo 2020 Dubai will contribute to achieving the UAE Vision 2021 by supporting the growth of tourism, stimulating the development of innovative businesses in the UAE, and enhancing the country’s international reputation as a location to do business.
- Through the youth and business engagement activities, and the Expo itself, Expo will stimulate the economic, cultural and scientific growth, and unlock the potential of one of the world’s youngest and fastest growing populations.
- Expo 2020 Dubai is committed to building a legacy that is sustainable, enduring and will set a benchmark for future World Expos.
Kenya SMEs have a place in Dubai
Kenya is experiencing a boom in its innovative spirit. A majority of young people have brilliant innovative ideas that can be instrumental in changing Kenya and the world in general. However, most of the young people’s dreams are lying in proposals and business plans submitted to banking institutions and other financiers who either do not trust their innovative spirits or are not willing to bring additional competition in the market. As such, most Kenyans dreams of creating and running sustainable businesses remain unrealized and at the mercy of financial institutions who have only one phrase “we cannot offer you the financial support you need”. In most cases, such phrases are either as a result of CRB listing, failure to meet the ‘NECESSARY’ credit score or just out of ignorance. However, innovative Kenyans have a place to fall back – Dubai.
The Expo Live funding is a significant initiative that seeks to offer funding and support to SMEs from different parts of the world. Already, 14 grants have been issued to African start-ups. For example, Eco Fuels Kenya is a Nanyuki-based startup that uses croton nuts to produce feeds, fertilizer, and biofuel. Therefore, more startups can make use of such opportunities to nurture and scale up their business ideas in an area that favours business creation and advocates for innovation.
What will happen after Dubai Expo 2020?
What will happen after the Dubai Expo 2020 is a question among many people. There is no doubt that the experience will have a significant impact on the economy of Dubai and the world. The cities hosting the expos are concerned with what will happen after the expo. Business Times Kenya, during a Dubai Fam Trip, learnt that a lot of focus is given on the creation of the right infrastructure for use during as well as after the expo.
According to the reports from the planners and organizers of the Expo, the residential houses and hotels created are targeted for use during and after the event. Specifically, more than 80% of the site’s structures will be re-used. As such, the infrastructure will add more value to the region. The site, which will be called District 2020, will include cultural attractions, residential and office spaces, leisure, parks, and other recreation amenities.
An independent report published by EY in April 2019 indicated that it is estimated that the Expo 2020 Dubai would generate about AED122.6 billion up to 2031, which is a significant boost in the region’s economy. Additionally, expectations are high that more than 905,200 jobs will be created and supported as a result of the expo.
Dubai remains an important centre known for exceptional hospitality, superior tourism, booming technology, as well as retail offerings.
The Expo 2020 will act as a significant event to showcase what Dubai and the UAE, in general, has to offer to the world.
On the other hand, small and medium-sized businesses from the world have a lot of opportunities to tap from the expo including partnerships, ideas incubation, and funding.