76.5% of Dubai firms register growth during Expo 2020

Around 76.5 per cent of companies in Dubai registered business growth during Expo 2020, while 73.5 per cent managed to build new business relations, according to a report commissioned by the Dubai Chamber of Commerce.

In terms of services provided by the Dubai Chamber during the event, 70.6 per cent of respondents said they benefitted from networking, while 47 per cent benefitted from the Global Business Forum series and B2B meetings.

Titled Business Integration for Growth, Digital Transformation and Global Partnerships, the report was developed by the Chamber in collaboration with Oxford Business Group.

In total, the Dubai Chamber of Commerce organised 98 events during Expo 2020 Dubai, which were attended by more than 25,000 participants from over 130 countries. The Global Business Forums on Africa, ASEAN and Latin America saw the most participation, as the high-level forums were joined by government and business leaders, who attended in person and virtually.

It facilitated 1,500 bilateral business meetings between UAE investors and their global counterparts, and received 1,746 visiting delegations from over 60 countries during the mega event, which were joined by 3,350 government and business leaders.

Seven new economic and professional bodies were licenced by the Dubai Association Centre, which was established in collaboration with the Dubai Chamber of Commerce (one of the three chambers under Dubai Chambers alongside Dubai International Chamber and Dubai Chamber of Digital Economy), the Dubai Economy and Tourism and Dubai World Trade Centre.

The report revealed that revenue per available room (RevPAR) in Dubai in January 2022 increased to AED460 ($125) compared to AED293 ($80) in January 2021, marking an increase of 56.3 per cent and outperforming Milan, the host city for Expo 2015, which recorded RevPAR of 54.5 per cent in 2015.

Arrivals at Dubai International Airport recorded growth of 12.7 per cent in 2021 compared to 2020, while the UAE's non-oil foreign trade jumped 27 per cent over 2020 and 11 per cent over 2019, a growth trend largely driven by Expo 2020 Dubai.

Commenting on the report, Hamad Buamim, President & CEO of Dubai Chambers, described Expo 2020 Dubai as a historic milestone for the UAE and significantly helped expand Dubai’s rapidly growing business ecosystem.