Effects of Expo 2020 on the Economy of the UAE - Assignment Example

The economy of the United Arab Emirates is going to be boosted by $23 billion by Expo 2020 as predicted by those states which have ever hosted the same event. The section below candidly discusses some of the important sectors that are going to benefit from Expo 2020.

Retail
The United Arab Emirates is well known as a center for commerce, especially in Dubai where there are more than 100 malls that are well-recognized in the retail market. Expo 2020 is expected to boost the retail markets with the exponential growth of up to four times making the economy of the UAE thrive. If a knowledge-driven decision support system is used then the economy will thrive thus high gross domestic product.

Banks
Due to the exchange of currency from other countries which will be involved in Expo2020, banks are going to provide a modest lift to the gross domestic product growth. The economy of the UAE will be stable since non-United Arab Emirates residents will have to deposit or invest in UAE banks making it advantageous to the economy of the UAE (Sao, 2012). Leadership skills must be incorporated to make sure that all the sectors are going to use a knowledge-driven decision support system that is computerized making it simple for the employees and the customers that are going to visit UAE.

Transportation
25 million people are expected to visit UAE and they are outside UAE thus boosting the transportation sector where the tourists are going to use airline and road transport making the tourism and commerce marketing thrive with a 30% increment. This will boost the economy of the United Arab Emirates making the countries increase their gross domestic product thus the resident economic situation stabilizing.

Job opportunities
In many countries, jobs have been a challenge to many countries but the United Arab Emirates will benefit from Expo2020 with the departments like tourism and commerce having more than 275,000 jobs being created making the United Arab Emirates economy grow with a high percentage (Marks, 2013). The economy is expected to thrive, and companies are being built up with technology being involved since to make it successful computerized systems must be incorporated with Expo 2020. Due to the use of computerized systems knowledge-driven decision support systems must be used by the companies

UAE will leave a legacy similar to the drawing above making UAE to be globally connected to other states. Read More