The Dubai 2020 Expo: An Introduction
The Dubai 2020 Expo is a massive event dedicated to showcasing the best in human achievement and ingenuity. It’s an enormous festival set to bring in investors, businesses, and talent from across the globe to experience the finest in culture, art, science, technology, and more.
Dubai has long developed a robust business market that has brought them to the forefront of the world stage and established them as a dominant force. And the Dubai Expo 2020 is no different! This huge international exposition endeavors to support tourism, foster innovative business concepts, and enhance the nation’s reputation as the leader of the modern business world.
Despite the titular date, this business event in Dubai will actually take place during the final months of 2021 due to the effects of the COVID-19 pandemic. Additionally, the theme of the Dubai Expo 2020 will aim at improving the development of international collaboration while promoting sustainable economic solutions for global problems.
This event will also bring in participants from all over the globe, including investors and talent from dozens of different nations. In fact, it has become such a large-scale event that the UAE’s tourism and hospitality sectors are scrambling to provide accommodations.
Why Dubai and Israel are the Major Focus of the Expo 2020
Dubai and Israel share a bit of a storied history. Since the UAE’s inception, the two nations have had a frosty relationship, with trade and travel restricted for years due to many high-profile political issues.
Before signing treaties, the UAE had imposed a long-standing edict that prevented Israeli citizens from entering the country, including those that simply owned Israeli passports. Direct flights between the two nations were banned, and any cooperation between Israel and Dubai was virtually non-existent.
However, in recent years, the two have warmed to each other, and in 2020 Israel and Dubai signed an agreement known as the Abraham Accord to establish full diplomatic relations, including trade and travel. This has spurred a flurry of business opportunities for investors and businesses hoping to do business with the two nations.
Now, Israelis visit the UAE by the thousands, bringing with them the benefits of increased tourism and a wealth of unbridled business opportunities. Following this enormous change in Middle Eastern geopolitics, other countries like Morocco, Bahrain, and Sudan have normalized Israel ties.
Why the Dubai Expo 2020 is a Focal Point for Business
With the normalization of economic interaction between Dubai and Israel, international trade is projected to expand remarkably. Estimates show that it will reach over a billion dollars in revenue by the end of 2021 and nearly 3 billion by 2024. Therefore, Dubai hopes to directly focus on this relationship at the Dubai Expo 2020 in a bid to expand trade opportunities.
Normalization has expanded trade for Israel and has encouraged new trade deals between other Middle Eastern countries like Egypt and Jordan. It has also jumpstarted other public deals, including over 30 agreements in finance, energy, agriculture, aviation, and more.
The Dubai Expo 2020 is set to kick off on the first anniversary of normalization between Israel and Dubai. This event is poised to provide a veritable launchpad for international investors and businesses hoping to meet and arrange new and lucrative business agreements.
The Deals Taking Place at Dubai Expo 2020
At Expo 2020, thousands of entrepreneurs and investors will flock to the region to take part in one of the largest business events in the UAE, with hopes to conduct business deals and take in the spectacular sights. Some of these important deals include:
- Major logistical deals in the fields of medicine, technology, science, and more.
- The opening of an economic attaché office in Abu Dhabi.
- Over 30 types of strategic deals and distribution agreements for industries like aviation, aerospace, and media.
- A 3 billion dollar fund to promote private sector investments and regional cooperation measures.
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Dubai has spent a considerable amount of time and investment to promote economic development and trade throughout the Emirates. These tactics, including relaxed immigration policies and zero tax responsibilities, have quickly brought the region to the forefront of major international business trade and solidified Dubai as “the” place to do business.
Adding to that trend, Dubai has engineered one of the largest expositions ever in hopes of driving talented professionals, international investors, and business partners to conduct their deals under one roof. And arranging this event to coincide with the one-year anniversary of normalization with Israel will undoubtedly boost the impact of this significant multi-national event.
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