Dubai Expo 2020 will have contributed Dh122.6 billion in value to the UAE’s economy by 2031, according to consultancy EY. The firm said that at its peak, the impact of Expo 2020 would be equivalent to 1.5 per cent of the UAE’s GDP. In an independent report released on Monday morning, EY projected that the gross value added (GVA), a measure of the value of goods and services produced in a sector of an economy, would be be over Dh100 billion, creating thousands of jobs and stimulating investment. Daily headlines from the UAE and around the world brought to you by Gulf News. See more at: http://gulfnews.com/videos
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00:00Dubai Expo 2020 is anticipated to generate as much as 122 billion dirhams in economic
00:09activity by 2031, according to a new report released on Monday morning. The consultancy
00:16EY were commissioned by the Dubai government to investigate the economic impact of Expo
00:212020. They found that on average 50,000 jobs would be supported by Expo in the lead-up
00:28to the event, during the year of the event, and for the following 10 or so years after
00:33the event. They also found that the legacy of District 2020, which is the new city that
00:39is being built on the grounds of the Expo site, would reap economic benefits for the
00:44following 10 years after the event. They say that the city will be full by 2031. This economic
00:51impact is based on a number of different factors, including the millions of visitors that EY
00:56says will attend the event, and on the businesses and tourism that will be generated by the
01:02Expo. There were some questions remaining, however, over EY's use of data, and in particular
01:08where it drew that information from, and the assumptions that it based its projections
01:13on. It released its 58-page technical study, which included some of the assumptions that
01:19its projections were based on, but it did not explicitly state what information it was
01:25basing those projections on. In other news, as of tomorrow, Emirates Airlines will be
01:30reducing the number of flights to several destinations, as it contends with a renovation
01:36of one of the runways at Dubai International Airport. For 45 days, Emirates will reduce
01:41flights to a number of destinations in the Middle East, Europe and Asia, as it seeks
01:46to reshuffle its organisation in light of the runway renovations. The airline confirmed
01:52to Golf News that it would be dropping around 135 flights per week, with Bangkok the most
01:58affected destination. The number of flights to Bangkok weekly will drop by around 14,
02:03according to Emirates, whilst Kuwait will see around 17 frequencies cancelled per week.
02:09Karachi and London Heathrow will also see the number of frequent flights cut down by
02:13around 12 to 10. That's all from us today. You can find the latest headlines on Golf
02:17News. I'm Ed Clouse. Thanks very much for watching and see you tomorrow.
02:22www.golf.co.uk