London - We present an update on UAE. Dubai's 2020 win brings the World Expo to the Middle East for the first time. This week we draw upon the experiences of previous World Expo host cities to identify potential rewards and risks, both tangible and intangible.
· Dubai's winning bid for World Expo 2020 strengthens its recovery; average growth estimates of 4% pa over the next five years are likely to be revised upwards
· GDP growth in Shanghai averaged 13% in the five years leading to the 2010 Expo and remained strong as the Expo area was regenerated into a vibrant business district; Dubai is also set to benefit from similar positive externalities
· Despite concerns of over-leveraging, given Dubai government's outstanding liabilities of USD 60B due by 2017, receipts from an influx of ~25M tourists could reach USD 60B in 2020 (15% of GDP
Number of Pages: 1
Countries Mentioned: UAE, China, Germany, United States, France
Sectors Mentioned: Real estate, tourism, retail, finance, banking, construction
Table of contents:
1. Leveraging the past to build the future
2. In the cost-benefit analysis, Dubai comes out on top
· Austerity measures have pushed up prices, but public discontent has been muted so far. We expect fiscal consolidation to bring the budget deficit more in line with the government's medium term target of 4% of GDP
· In a bid to reduce reliance on oil imports and address food security concerns, Jordan is looking to invest ~USD 30B towards water and nuclear energy megaprojects by 2030, of which ~8B is slated for the next 2-5 years
· Recent initiatives to facilitate financing access for SMEs will spur growth in Jordan's entrepreneurial specialty, ICT, doubling the size of the market to 12% of GDP over the next five years
Number of Pages: 2
Countries Mentioned: Jordan, Lebanon, Morocco, South Korea, Iraq
Sectors Mentioned: Oil & Gas, Agriculture, ICT, banking and finance
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© Arabia Monitor 2013
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© Press Release 2014
