The Economic Booming and Development in Shanghai - Essay Example

 Abstract: The Shanghai Expo World Fair 2010 has created a positive impact to the city of Shanghai, and consequently the entire China. Even after the mass event is over, the city is still benefiting from the changes that have developed out of the Expo. The upside of the event preparations was that it was designed to promote Shanghai’s culture and infrastructure to the world, which was in turn expected to produce a long-lasting impact to the city. Shanghai has successfully equated the worldwide expectations, providing a sustainable and environment-friendly urban planning for the Expo. Furthermore, the city has gained the global audience’s recognition through upgrading of its infrastructure, economy and business opportunities. The purpose of the research was to analyze the impact of the Expos and the city’s development in the aftermaths. The research focuses on different attributes of the Expo that have influenced a sustainable development to the city’s infrastructure, economic and environment. The city has seen visible improvement in its living quality, infrastructure, transportation, industrial ventures and many more aspects of life. The results show that the World Expo 2010 has boosted the city’s economy and branding image, by accelerating its growth to a greater level in the international market. Introduction: The World Expo conducted in 2010 has changed the life in Shanghai city to far better than ever. Given the theme, ‘Better City, Better Life’, the Expo has truly renovated the Shanghai city by contributing to it successful economic development, infrastructure buildings and the mass makeover. A decade of actions plans and preparations for the Expo has overturned the city, and now the changes are visible both inside and out. Apart from the major facelift that Shanghai have undergone in these years, the event has brought the attention of the entire world to the city, paving way for a better exposure and globalization. This has indeed brought an economic booming, which is obvious from its rapid growth and development in the aftermath years of the Expo. Moreover, the international recognition gained as a part and parcel of the event has accelerated the employment and business opportunities of the city. We shall discuss in detail how the World Expo planning has influenced the transformation of the city and its development by focusing on various influential factors. The research particularly focuses on the key attributes of economic growth such as infrastructure, cultural exchange, tourism development, employment and business opportunities that have contributed to the city’s development. Background and Literature review: Expo is a cultural event and a catalyst to emerging economies for innovation, development and market growth. The Shanghai World Expo 2010 was a premier event in the 150-year history to be held in a developing country. “The Expo has been the greatest event ever held in a developing country, with an attendance of around 84 million people, above 350,000 visitors a day over six months from May 1 to October 31, 2010.” (Wang et al. 1284). Moreover, this global event targets on urban development and remodeling of urban communities, providing an import role for the urban planners. The scope of the expo is extensive, as the worldwide participating countries and the visitors help in promoting cultural exchange through learning and promotion of different history, culture, technological advancements and achievements. Shanghai, one of the most populous city and an economically developing region in the Yangtze River Delta, is taking the lead role in boosting the economy from the development opportunities of the Expo. It was estimated that the city has demolished buildings covering over millions of square feet for reviving the Expo location. The preparations became the springboard for the city’s economic upheaval and identity, with complete renovation of the urban landscape and development. “The 2010 EXPO would enhance and consolidate Shanghai’s city image and that it would bring a great opportunity to introduce Shanghai to other nations.” (Yang, Zeng and Gu). Furthermore, it was expected to develop tourism, infrastructure and economy through the prospective employment and business opportunities. The impact of the Expo in the Yangtze River Delta zone is very large when compared to the influence and cost it has created on the economy. As per the estimation, the economic benefits of Expo are sure to far exceed the costs. “The Expo organized during the 2003-2009 with an average annual GDP growth of 1.91 pull Shanghai percent, was expected that two years after the Expo will boost an average annual GDP growth of 1.35 percentage points from Shanghai.” (Qu). Methodology: For the quantitative analysis of the impact of Shanghai World Expo 2010, different aspects of the Expo were considered to determine its impact on the city’s development. Various influential factors were also taken into account for reflecting the influence of this Expo on the economy, science and technology as well as the environment of the city. The economy boom was assumed from the collected data of input and output ratio, effect of GDP, employment opportunities, and other indicators of the economic growth. For the analysis of the city branding and identity, websites, books, scholarly journals, case study data, branding evaluation with relevant official documents and interviews were taken into account. The collected information was carefully analyzed with considerations of different attributes of cultural exchanges, economic impact, employment opportunities and more. Results and analysis: From the analysis, it could be evident that the Expo has contributed to the rapid development of Shanghai and its surrounding region, as well as the China’s economy as a whole. The economic impact on Shanghai has been analyzed from the perspective of its infrastructure development, cultural exchanges, employment and business opportunities, as well as the city’s exposure to the world. The results showed a rapid development in various areas of Shanghai life and economy. (“World Expos' Economic Effects”) The primary development that became obvious in the Shanghai region was its infrastructure and urban planning. The strategic aim of Shanghai infrastructure was in “upholding the concept of sustainable development characterized by all-round, coordinated and sustained development in urban construction and development, and establishing Shanghai into a modernized cosmopolitan city and one of international economic, financial, trade and shipping hubs.” (“Environmental Report”). This has efficiently resulted in updating the city’s international branding, through the celebrations of urbanism and modernity that the city has exposed itself in the event. The pavilion construction, urban planning, transportation improvements and stunning architecture has gained attraction for the city in the worldwide sphere. The foreign visitors have contributed to the cultural exchanges and tourism development. On analyzing the collected data of foreign immigrants in the particular year period, it is evidenced that there is comparatively a steep increase in the number of visitors which suggests that the Expo has attracted more tourists and contributed to the tourism development for Shanghai. As far as the Shanghai branding image in the international arena is considered, the surveys have shown that city has been affected positively. The respondents’ understanding of the city’s values helps in identifying the impact of the Expo and its promotion of city branding. “Nearly half of the respondents agreed that the Expo would enhance the city’s identity in terms of combination of a strong personality as a former colonial and energetic economic center.” (Wang et al. 1291). Overall, the event has placed the city as a prominent member in the global market, by interpreting the city’s cultural values and urban development. (Wang et al). From the environmental perspective, Shanghai has gradually improved in its environment management system through its efforts of environment protection, pollution prevention and control, as well as ecological preservation. The Expo’s infrastructure construction has contributed to substantial improvements in urban sewage treatments, disposal of garbage and energy efficient alternatives in the city. “The comprehensive development level of China's has greatly improved with influence the Expo, whether countries visited daily flow or the harmony of man and nature, the factor scores are high, so assessment of World Expo is to have a positive effect on China.” (Ge and Sun). Thus, the huge investment on Shanghai’s urban development has propelled the city’s international image and economic market. The limitations of the research include the practical issues of the hosting destination and identification of factors influencing Shanghai. The reports are compared with the local respondents and surveys, which is a limited approach. Similarly, the research includes domestic tourism impacts only, and future researches dealt with an international data can provide a comparatively a detailed and accurate results. Summary: Being the world’s fastest-growing economy, China has accelerated its growth potential in the Shanghai economic zone through the World Expo, by stimulating global investments and opportunities that would speed up the economic development. The event has provided a breakthrough “to explore the full potential of urban life in the 21st century and a significant period in urban evolution, the prospect of future urban life, a subject of global interest, concerns all nations, developed or less developed, and their people.” (Zheng). Thus the World Expo 2010 hosted by Shanghai, China has deliberately improved its world reputation and international image. Furthermore, it has brought about economic booming to the city as well as the entire China’s commercial market, apart from increasing the awareness to the world regarding the Chinese growth and culture. Overall, Shanghai has eventually risen to a sustainable level in the aftermath years of the Expo, backed up with the economic upheaval and booming that the Expo has contributed to the city. Works Cited “Environmental Report: Expo 2010 Shanghai China.” Bureau of Shanghai World Expo Coordination Shanghai Environmental Protection Bureau, 2009. Web. 6 Aug 2014. Ge, Yun-kang, and Sun, Ying-jun. "Quantitative assessment of the influence of the Shanghai World Expo." Advances in Applied Economics and Finance (AAEF), 2. 4 (2012). Qu, Yunhua. "Research of Economic Growth Model of Shanghai World Expo Impact." Information Computing and Applications, (2011): 197-204. “World Expos' Economic Effects.” Zawya, n. d. Web. 6 Aug 2014. Wang, Huachun, Xiaokaiti, Maerhaba. Zhou, Yue. Yang, Yi. Liu, Yingmei. Zhao, Rui. “Mega events and City Branding: A Case Study of Shanghai World Expo 2010.” Journal of US-China Public Administration 9.11 (2012): 1283-1293. Yang, Jie, Zeng, Xuehui and Gu, Yingkang. “Local residents’ perceptions of the impact of 2010 EXPO.” Journal of Convention & Event Tourism, 11. 3 (2010). Zheng, Liang. “Integrative Research On Redeveloping Real Estate,Urban Sustainability, The Case Study Of Shanghai World Expo 2010.” 43rd ISOCARP Congress, 2007. Web. 6 Aug 2014. http://www.isocarp.net/Data/case_studies/1071.pdf. Read More