Dubai, January 19, 2014: Investments in airports expansion in the Arabian Gulf’s aviation heartland is due for a biggest push with the selection of Dubai as the host city for Expo 2020- the third biggest event after Olympics and FIFA World Cup- thereby offering vast growth opportunities for the global aviation industry as the city-state accelerates its drive to enhance the airports capacity and facilities.
A significant portion of the government investments planned for infrastructure development in the emirate will be for the aviation industry with airports sector being the top priority. The global aviation industry will benefit immensely with the opening of floodgates of new investments in the run up to the event which will attract 25 million tourists to the economically-vibrant region.
His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of UAE and Ruler of Dubai. “We have a lot to accomplish and we have no excuse for any delays or poor performance. We have what it takes to achieve as we are blessed with rich resources, capabilities, expertise, positive energy, a thirst for knowledge, dedication and above all, the leadership’s unlimited support.”
Dubai is expected to invest over US$8.1 billion in new infrastructure to host Expo 2020. Total spending related to the Expo, including private sector projects, could reach $18.3 billion, HSBC estimated. As much as US$43 billion in infrastructure projects would need to be developed in preparation for the event, Deutsche Bank estimated. Aviation has established itself as a vital contributor to the UAE’s economy, contributing more than AE145 billion or 14.7 per cent to the national Gross Domestic Product (GDP).
His Highness Sheikh Ahmed bin Saeed Al Maktoum, President of Dubai Civil Aviation Authority, Chairman of Dubai Airports, Chairman and Chief Executive of Emirates Airline and Group, and Chairman of Expo 2020 Preparatory Committee, said: “The required costs would not be problematic as it makes sense and has a business case. The World Expo in Dubai would present opportunities and leave a lasting legacy, not only for Dubai and the UAE, but for the economy and the wider region.” More info