Dubai Expo 2020 to give $33 bn boost to UAE economy: study

A computer-generated image shows architect Santiago Calatrava’s design for the UAE Pavilion for Dubai World Expo 2020 which was selected following a seven-month design competition. (WAM/AFP)
Updated 15 April 2019
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Dubai Expo 2020 to give $33 bn boost to UAE economy: study

DUBAI: Dubai’s Expo 2020 global trade fair is expected to give the United Arab Emirates an economic boost of over $33 billion, consultants Ernst and Young said in a study released Monday.
Next year’s mega-event would add 1.5 percent to UAE’s gross domestic product per year over the period that started in 2013 and runs until 2031, said EY partner Matthew Benson.
Major new construction projects and other impacts of the six-months extravaganza would create some 50,000 jobs yearly over the same period, he told a press conference.
The city-state of Dubai, one of the UAE’s seven emirates, has long become a favorite tourist attraction, valued for its safety and known for its luxury resorts and opulent shopping malls, one of which boasts an indoor ski slope.
Dubai assumes that Expo 2020 — which runs from October 20 next year to April 20, 2021 — will attract some 25 million visits, Benson said.
The economic impact includes “direct, indirect and induced effects” of the first Expo to be organized in the Middle East and Africa, he said.
The Expo 2010 in Shanghai drew 93 million visitors, and Expo 2015 in Milan attracted over 22 million.
Dubai’s government has already spent over $40 billion on major infrastructure projects related to Expo including a $2.9 billion new Metro line and an $8 billion expansion of Al-Maktoum International Airport, next to the Expo site.
The Metro line links the $13.4 billion Dubai South Villages and Dubai Exhibition Center, projects currently underway.
Al-Maktoum Airport, when complete, will have the capacity to handle 160 million travelers per year.
The 4.4 square kilometer (1.7 square mile) Expo site south of Dubai is due to be redeveloped into a full-fledged city after the Expo, the so-called District 2020, home to a mega exhibition center and scores of companies, organizers said.


Alibaba head’s remarks spark debate over China working hours

Updated 49 min 16 sec ago
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Alibaba head’s remarks spark debate over China working hours

  • Jack Ma is one of China's richest men and his comments last week brought both condemnation and support as China's more mature economy enters a period of slower growth

BEIJING: Remarks by the head of Chinese online business giant Alibaba that young people should work 12-hour days, six days a week if they want financial success have prompted a public debate over work-life balance in the country.
Jack Ma is one of China’s richest men and his comments last week brought both condemnation and support as China’s more mature economy enters a period of slower growth.
Newspaper People’s Daily, the ruling Communist Party’s mouthpiece, issued an editorial, saying mandatory overtime reflects managerial arrogance and was also impractical and unfair to workers. Online complaints included blaming long work hours for a lower birth rate in the country.
Ma has responded to the criticism by saying work should be a joy and also include time for study, reflection and self-improvement.