$ investment needed if Dubai wins Expo bid

Dubai economy could grow between 4.6% between 2012 and 2015

PHOTO: Credit:

Dubai’s economy could grow at an average 4.6% between 2012 and 2015, according to government forecasts.

The city, in contention as a potential host for the World Expo 2020, will need to invest almost $8.1bn into infrastructure, according to Sheikh Ahmed bin Saeed Al Maktoum, head of Dubai’s Supreme Fiscal Committee and chairman of Emirates airlines.

“We need to extend maybe the metro, the road infrastructure to the site and doing a lot on the site itself,” he added.

Speaking at the Dubai Air Show, he further claimed financing the expenditure would not be problematic since it “makes sense” and has a “business case,” but did not expand on how this capital would be raised, said a Bloomberg report.

Economic growth is expected to receive a 0.5% boost per year, and around 2% in 2020, should Dubai win its bid to host the Expo 2020, according to a Bank of America Corp. report that was published earlier this year.


Most Popular

To Top