There are opportunities for everyone as the delayed Expo 2020 approaches, not least SMEs and new business owners. Now set to take place between October 2021 and March 2022, the event has completed its pandemic-induced delay and things are warming up ready for the big launch. It’s six months of Dubai being front and centre on the world business stage. And it’s a huge moment for anyone in the UAE who is running, or looking to start, a small business.
To give you a sense of the sheer size, Expos are usually in the top three largest world events, comparable with the Olympics. So it’s no surprise it’s going to have a major impact not only during the six month event itself but as a legacy that will benefit business people in the Emirates for a long time to come.
In this article, we will look at:
- What is Expo 2020, why is it important?
- What are the effects of Expo on the different sectors of the economy?
- New business opportunities for SMEs after Expo 2020
- Working with Creative Zone
What is Expo 2020, why is it important?
Expo 2020 is vitally important as it shines a light on Dubai, provides a huge influx of visitors, and creates opportunities for businesses in almost every sector. This is the first time that an Expo has been held in the Middle East/North Africa/South Asia.
Regardless of your sector, it’s going to have a major impact. So let’s look at how several key industries will be affected and then the post-Expo legacy as well.
What are the effects of Expo on the different sectors of the economy?
Let’s break down some of the key business sectors in Dubai and how they will be affected by Expo 2020.
Dubai is famous for its construction and real estate. It’s skyline is known across the world. And Expo 2020 means a big increase in government-led projects, including the building of smart cities, improved infrastructure as well as the District 2020 Expo site.
Dubai is investing a lot in the Expo, with estimates around the USD 8bn mark. But equally, revenues from the event itself and the years that follow may amount to three or four times that figure.
Dubai is already a tourism (and business visitor) hotspot, and Expo 2020 will only add to that. The event is hoped to bring in 25 million visitors, with a huge number of new hotels being built.
One of the key areas for Dubai during Expo 2020 is to demonstrate its leading sustainability initiatives. Bringing together some of the best minds in the world will only increase the opportunities in the region for those with eco-minded projects.
New business opportunities for SMEs after Expo 2020
SMEs play a huge role in the Dubai and wider UAE economy. With investors visiting from around the world, now is the time for small businesses to show what they can do in front of a global audience.
The government has shown over a long period how vital they see entrepreneurs and SMEs to the overall economy, so we are reaching a key point where everything is starting to align. In short, now is the time to get your small business off the ground, if you haven’t already. At what other time would you have 25 million potential new customers over a six-month period?
SMEs now have a great chance to show their wares on the world stage and interact with business leaders on a global level.
Given that the UAE is keen to move away from oil and in so doing promote innovative SMEs, it’s a unique opportunity, particularly for those in technology, sustainability, tourism and many other areas.
Working with Creative Zone
So those are the key points around Expo 2020 and what it means for your SME. And
now is the time to work with a specialist to ensure your new business is set up smoothly.
When you’re looking to set up a new company you can be sure what you’re getting from Creative Zone is the latest, up-to-date info from people who deal with this every day.
While the setup process can be somewhat stressful, you can fast-track it by working with a company formation specialist. It’s the quickest way to get set up in the UAE, letting us take care of all the details and ensuring your application is free from errors.
We can also help you with opening a corporate bank account and also offer important advice on the type of financial institution that would best suit your requirements.
Here at Creative Zone, we offer you the best solutions to start your company in the UAE. You get fast, reliable and unbiased advice on your unique business setup requirements. We can help you choose the right kind of license for your chosen business activity/activities and take you through the entire process from start to finish.
You can let us deal with the hassle of registering a company while you focus on your business. And working with us means you get the best budget friendly and cost-effective solution to help make your business dream a reality.
Over 10 years, Creative Zone has helped over 36,000 entrepreneurs set up their businesses. Whether it be a mainland business setup, offshore company setup, free zone company setup, or issuing of trade licenses and any related activity for registering a company, Creative Zone is your one-stop-shop.