Implementing a strong legacy strategy that will benefit both participants and the local economy is a key component of Dubai’s Expo 2020 preparations, the chairman of the event’s Preparatory Higher Committee said.

Sheikh Ahmed bin Saeed Al Maktoum told the global publishing, research and consultancy firm Oxford Business Group (OBG) that thinking past Dubai Expo 2020 and going “beyond the physical assets being developed onsite” had been a focus, back even when the emirate made its initial bid to host the world fair.

“Investment from countries and corporations in their expo participation is often significant and it is critical that we provide an after-use plan for some of their assets where possible,” he said.

The chairman said legacy plans currently under consideration were aimed at creating value for both participants and the local economy.

“For example, by keeping pavilion structures on the expo site or moving them to a different part of the city, region or world, we can create a lasting platform of the shared experiences, connections and partnerships that have developed through Dubai Expo 2020,” he said.

The full interview with Sheikh Ahmed appears in The Report: Dubai 2015, OBG’s latest report on the emirate’s economy.

Dubai’s preparations for Expo 2020 are gathering momentum. Last month saw the emirate launch a business engagement programme aimed at encouraging regional and global enterprises to invest in the expo, while a business procurement portal and a commercial sponsorship programme have also been rolled out.

The government is targeting 25 million visitors, including 17 million from overseas, for the world fair, Sheikh Ahmed told OBG. Organisers expect Dubai Expo 2020 to yield economic benefits of around $18.7 billion by 2021, creating approximately 275,000 jobs in the run-up. Analysts, meanwhile, calculate that the fair will require some $8 billion in investment.

Sheikh Ahmed said infrastructure had a key role to play in helping the expo reach its potential. “We now have two airports on offer… A new regional railway system will be in place, and the UAE will continue to serve as a significant port of call for international shipping and logistics,” he said.

He told OBG that energising research and innovation in the main thematic areas of the expo dovetailed with the objectives mapped out in Dubai’s master plan. Dubai Expo 2020, he explained, was expected to act as a driver for the emirate’s educational and cultural outreach agenda, providing knowledge-creation platforms and encouraging theme-led research and innovation.

Officials are confident that the expo will help Dubai make the transition toward a knowledge-based economy. It should, they add, also provide a forum at which regional issues, such as water shortages and job creation, can be explored and addressed. The 2020 expo in Dubai marks the first time the world fair will be held in the Middle East, Africa and South Asia region.

The Report: Dubai 2015 is a guide to the many facets of the emirate, including its macroeconomics, infrastructure, banking and other sectoral developments. – TradeArabia News Service