The World Expo 2020, which will be held in the MENASA (Middle East, North Africa and South Asia) region for the first-ever time is going to be the most inclusive and international event in World Expo history due to a large number of visitors from beyond the nation’s borders.
As the Expo 2020 will take place in the UAE, the country was set upon a journey that will place it at the centre of the international stage, engage the global community and create an immediate and meaningful cultural, social and most importantly economic impact on the Middle East.
The main question is: 'What impact will the World Expo have on Dubai in general and especially for companies which want to franchise their business in the Middle East?'
This event gives businesses which want to franchise in the Middle East the power of partnership and collaboration in development and innovation, since the general theme is “Connecting Minds, Creating the Future”.
Additionally, this event further supports Dubai’s reputation as a growing business hub and therefore seems likely to enhance its attractiveness as a foundation for Middle Eastern franchising opportunities. The Economy will get a boost of 23 Billion USD which is equivalent to around 24.4 % of the GDP across the period 2015-2021.
More than 3.2 billion people will attend the event with a collective GDP of more that $6.5 trillion, more than 200 international participants, which will include 180 countries, firms, non-governmental organizations and educational institutions.
Due to the fact that around 70 percentage of the expected visitors will come from outside the UAE, this event will open the gates to start a new business in the UAE because it will not only create opportunities to showcase progress but will be more a global destination to create advantages for the potentials of emerging markets and new firms, which is going to be made possible by the UAE leadership’s strategies to ensure businesses thrive, especially for companies from the outside which want to franchise and grow their businesses internationally.
A leading jewellers in the Middle East for instance has announced plans to invest 500 million Dirhams to expand its business in Dubai by 2020, they are planning to open additionally 65 stores.
This will lead to an exponentially growth of local and international franchise brands due to the variety of the fast-developing sectors and after the Expo 2020 the infrastructure will be more attractive and improved. Furthermore, the UAE government efforts to diversify the economy, a growing population with a large number of expatriates and changing consumption behavior will increase the penetration of international franchise brands and the opportunity for companies to grow internationally.
So what are you waiting for? Now is the best time to turn your business into a franchise!
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