Business News
Expo 2020: Industry impact
Dec
Dr Azad Moopen, Chairman, Aster DM Healthcare Group
Expo 2020 is expected to boost the economy through an estimated Dh123 billion as a result of investment, tourism and other revenue streams. Out of the expected 25 million visitors, I am confident there will be a percentage that will see the opportunities that Dubai presents for businesses and entrepreneurs.
I also expect that there will be an influx of international businesses looking to set up operations in the country following the recognition the UAE has gained as a result of holding the expo.
This will in turn create job opportunities, leading to an increase in demand for skills and resources across multiple industries, including the healthcare sector.
Aster will play a prominent role at the India pavilion at Expo 2020, by highlighting our integrated healthcare delivery expertise across markets and capabilities when it comes to the digital transformation of healthcare.
The UAE’s vision is to develop a world-class healthcare system and there is a big focus by the government to expand and upgrade the current systems to match international standards. The healthcare market is projected to grow by an average of 12.7 per cent, and the Expo will provide a platform for global leaders in the healthcare space to showcase their innovations and expertise.
Aster will play a prominent role at the India pavilion at Expo 2020, by highlighting our integrated healthcare delivery expertise across markets and capabilities when it comes to the digital transformation of healthcare.
Apart from the focus on digital transformation in healthcare, we shall also be looking at opportunities for highlighting the preeminent role the UAE and India can play in the area of health tourism by showcasing the capabilities for tertiary and quaternary care in our hospitals. We will also be providing medical support to the visitors to Expo 2020 by having our doctors and ambulance being placed there.
From an investment perspective, Aster DM Healthcare has invested Dh750 million in the UAE over the last three years, and another Dh250 million is envisaged over the next two years, totaling an estimated investment of Dh1 billion in five years in the UAE. We are on track to deliver two new hospitals in the UAE by 2020 — one in Sonapur with over 40 beds and the other in Sharjah with over 80 beds.
Koji Tanaka, Managing Director, Yakult Middle East
With Expo 2020 drawing a large number of visitors to the UAE, food and beverages (F&B) sector will experience growth. The event has opened up opportunities for investments. In line with accelerating our business, we, at Yakult Middle East, have launched a new, iconic product — Yakult Gold, in the UAE in September.
At the moment, our focus is on increasing the awareness about the benefits of probiotics in the GCC countries with our newly-launched premium product Yakult Gold.
Currently, we are monitoring the performance of our new as well as existing product portfolio in the market. We are expecting our sales to grow, leading to further expansion in other markets. At the moment, our focus is on increasing the awareness about the benefits of probiotics in the GCC countries with our newly-launched premium product Yakult Gold.
It contains 30 billion Lactobacillus Casei strain Shirota, which is about four times the number of good bacteria found in Yakult Original and Light, and is packed with added nutrients such as Vitamin D, B12, B6, Niacin and Calcium.
Joy Alukkas, Chairman and Managing Director, Joyalukkas Group
We are already witnessing the pre-Expo impact, which has created thousands of jobs and the buzz around the event has garnered international attention. No doubt, leisure, tourism and retail sectors will get a huge boost during the expo phase, which is expected to attract over 25 million visitors. Statistics estimate $10 billion in retail/consumer spending during the event. However, what really excites me is the post-expo phase, which offers plenty of opportunities for retail businesses to sustain beyond Expo.
I am absolutely positive the event will showcase the UAE’s capability as a hub for trade and the leading destination for businesses.
I am absolutely positive the event will showcase the UAE’s capability as a hub for trade and the leading destination for businesses. Add to that the government’s initiative to make the destination as business-friendly as possible, and we are bound to expect significant investments. The long-term result would be more companies coming to the UAE, more employment being created, and more spending capabilities, which shall benefit the retail industry and the rest of the economy. Fortunately, we have a strong presence in the UAE, which should cater to the demand during the expo phase. In terms of inventory, we are scaling up with product innovations, as we are looking to further diversify our products to meet the taste of millions of global consumers expected during the expo.
We do have some big plans for 2020 and are diligently working towards it. However, it would be premature to talk about it right now. When the time is ripe and once we are confident that everything is in the place, we shall announce it to the world.
Pradeep Kumar, Group Chief Executive Officer, UAE Exchange and Unimoni
Expo 2020 Dubai, which is expected to attract over 25 million visitors, will be a significant boost to the UAE’s non-oil economy.
The cumulative and sustained impact of Expo 2020 will also benefit the remittance and foreign exchange industry.
There would be a substantial increase in economic activity and investments across key sectors such as financial services, construction, tourism, and hospitality, among others. As per the latest reports, the event is expected to create close to 49,700 jobs and contribute Dh122.6 billion in value to the UAE’s economy by 2031.
The cumulative and sustained impact of Expo 2020 will also benefit the remittance and foreign exchange industry. At UAE Exchange, we are looking forward to serving residents and visitors alike, and have strengthened our digital solutions offering suite, our omnichannel touchpoints and our AI-powered support services, to effectively cater to the surge anticipated in cross-border payments and foreign exchange requirements.
PNC Menon, Founder and Chairman, Sobha Realty
On the occasion of the 48th UAE National Day, I salute the wise leadership of the UAE who have carried forward the vision of the late Sheikh Zayed bin Sultan Al Nahyan and led this country to where it is today.
Now with the Expo 2020, the UAE is set to take centre stage as a global hub for business, innovation and entrepreneurship and showcase its boundless potential. Moreover, it has, and always been a country of tolerance, co-existence and opportunities.
And now with the Expo 2020, the UAE is set to take centre stage as a global hub for business, innovation and entrepreneurship and showcase its boundless potential. Moreover, it has, and always been a country of tolerance, co-existence and opportunities. At Sobha Realty, we are proud to be part of the UAE’s development march and look forward to our continued contributions to the country’s growth journey.
Danube Group is on track for steady growth in 2020 and beyond
In conversation with Rizwan Sajan, founder and chairman Danube Group:
How will Expo 2020 impact the UAE economy, especially the retail sector?
Since, we are expecting millions of visitors to attend the Expo 2020, we will definitely get high international investments and a spike in tourism, resulting in Dubai’s robust growth in every sector. Expo 2020 will bring in significant growth in the retail sector.
Danube Group’s future growth plans have been drafted keeping in mind the overall plans of the nation. We are geared up to meet the challenges ahead keeping the Expo 2020 vision in mind.
With Expo 2020 looking to further boost the UAE economy, what are Danube’s plans for the next year?
Danube Group’s future growth plans have been drafted keeping in mind the overall plans of the nation. We are geared up to meet the challenges ahead keeping the Expo 2020 vision in mind. As a group, we aim to achieve 15 to 20 per cent year-on-year growth till 2020. I hope that Danube Home will endeavour to become amongst the leading home improvement retailers, Danube Properties continues its pole position in the affordable housing sector and Milano will grow both vertically and horizontally by adding more product lines and creating more business opportunities.
Are you planning to launch any special products next year?
Keeping the future vision in mind, we have recently launched our first experiential luxury tiles and sanitary brand, Casa Milano. This first expansive 30,000 square-foot showroom flagship store is located on Shaikh Zayed Road, Dubai. Casa Milano is a one-of-a-kind concept store in the region that features 24-carat gold tiles, diamond bathtubs, live shower demonstrations and Corian technique infused solid surfaces. Each touch point in the showroom is also designed to inspire with various display set-ups such as hotel rooms, kitchens and bedrooms to showcase its offerings. This includes tiles and sanitary ware like bathtubs, showers, mixers, washbasins and other accessories. Additionally, the group has expanded into the healthcare segment as well.
How has your business been this year? What are your forecasts for Danube in 2020?
We have been able to retain a double-digit growth year after year. Moreover, Danube Group is known for its vast business verticals and each of its vertical offers something unique to its target. At Danube, we always strive to be among the top three in any sector we enter into. This has been only possible as we have always targeted the masses and tried to fill a niche in the market. Convenience, value for money and affordable luxury to our customers are the core principles we follow across all businesses. I am confident that we will enjoy our pole position across each sector in the coming years as well.