More than three in four companies – approximately 76.5 percent – in Dubai registered business growth during Expo 2020, while 73.5 percent of them managed to build new business relations during the six-month World Expo, according to a report commissioned by the Dubai Chamber of Commerce.
Titled Business Integration for Growth, Digital Transformation and Global Partnerships the report was developed by the Chamber in collaboration with Oxford Business Group.
Commenting on the services provided by the Dubai Chamber during Expo 2020, close to seven in 10 of the survey respondents said that they benefitted from networking, while nearly half of those surveyed said that they benefitted from B2B meetings and the Global Business Forum series.
In total, Dubai Chamber of Commerce organised 98 events during Expo 2020 Dubai, which were attended by more than 25,000 participants from across 130 countries.
The Dubai Chamber of Commerce also facilitated 1,500 bilateral business meetings between UAE investors and their global counterparts, received 1,746 visiting delegations from over 60 countries during the mega event, and hosted 3,350 government and business leaders.
Impact of Expo 2020’s forums and meetings
The high-level Global Business Forums on Africa, ASEAN, and Latin America witnessed the highest participation as they were joined by government and business leaders, who attended in person and virtually.
The 12th edition of the World Chambers Congress and a series of Thematic Business Forums were also hosted by the Chamber, which were attended by chamber and industry leaders.
The events identified global challenges and highlighted innovative solutions to drive sustainable economic growth.
Seven new economic and professional bodies were licensed by the Dubai Association Centre, which was established in collaboration with the Dubai Chamber of Commerce, which is one of the three chambers under Dubai Chambers alongside Dubai International Chamber and Dubai Chamber of Digital Economy; the Dubai Economy and Tourism; and the Dubai World Trade Centre.
Impact on travel and hospitality
The report reveals that revenue per available room (RevPAR) in Dubai in January 2022 increased to $125 (AED460), compared to $80 (AED293) in January 2021, marking an increase of 56.3 percent and outperforming Milan, the host city for Expo 2015, which recorded RevPAR of 54.5 percent in 2015.
There were 759 hotels and hotel establishments accounted for in Dubai in January 2022 compared to 711 in January 2021, while guest nights in January were at 3.04 million during the same month this year compared to 2.65 million in January 2021.
Arrivals at Dubai International Airport also recorded growth of 12.7 percent in 2021 compared to 2020, while the UAE’s non-oil foreign trade jumped 27 percent over 2020 and 11 percent over 2019, a growth trend largely driven by Expo 2020 Dubai.
Commenting on the report, the president and CEO of Dubai Chambers, Hamad Buamim, described Expo 2020 Dubai as a historic milestone for the UAE and Dubai, and noted that Dubai Chamber of Commerce played a pivotal role in facilitating partnerships between UAE companies and their global counterparts during Expo 2020 Dubai.
Buamim added: “Our goal is to be the best chamber in the world when it comes to driving competitiveness and growth. At Expo 2020 Dubai, we have been able to put this mission and vision into action. Our efforts in supporting the mega-event have helped to strengthen Dubai’s reputation as a place to do business.
“Building on our long-term strategy to embrace digital transformation, we adopted a hybrid format for the Expo 2020 events. Doing so has enabled us to expand our reach and engage with public and private stakeholders from around the world.”
Buamim emphasised the role of Expo 2020 Dubai as a stepping-stone to a resilient future shaped by innovation, international cooperation, and a more competitive and diversified economy supported by SMEs.
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