Economics
Dubai Expo 2020 Win Stokes Bets of Faster Economic Growth
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Dubai, the emirate that teetered on the brink of default in 2009, was picked to host the World Expo 2020 exhibition, becoming the first Middle Eastern city to win a bid in the event’s 162-year history. The city’s benchmark index surged to its highest in five years.
Dubai beat Turkey’s Izmir, Russia’s Ekaterinburg and Brazil’s Sao Paulo in a vote organized by the Bureau International des Expositions in Paris yesterday. The emirate of 2.2 million people, whose economy is rebounding as its hospitality and property industries flourish, plans to attract 25 million visitors during the six-month event starting Oct. 20, 2020.