In Dubai, the logo is also plastered on police cars, convenience
store bags, storefronts, taxis, receipts, government buildings
and even on new resident visa forms. Countdowns to Wednesday's
decision of who will host Expo 2020 also appear on one of
Dubai's main highways and in one of its main English-language
daily newspaper.
Dubai's rulers say their futuristic city of
skyscrapers is ideal to host the event. But their well-oiled
public-relations campaign belies a worry among many in the
United Arab Emirates city that increased building and
real-estate speculation driven by the event could put it on the
cusp of another financial crisis.
"People are betting on what's to come rather than what's
really here," said Faris Mansour, director of Mubadala Pramerica
Real Estate Investors. He spoke on a panel at a recent real
estate conference during a discussion on whether Dubai was in
recovery or not.
While the world's fair no longer holds the popularity of
other global events like the Olympics or World Cup, it remains a
chance for millions of people from around the world to discuss
and see the business of the future. Dubai is competing with
Yekaterinburg in Russia, Izmir in Turkey and Sao Paulo to host
Expo 2020.
Dubai's rulers say the city of 2.2 million people — most of
them foreigners — is a perfect fit to host the exhibition. It is
home to the world's tallest building, the Burj Khalifa, one of
the world's largest malls, a man-made island shaped like a palm
tree and an indoor ski slope.
A spending spree is already underway in Dubai for the expo —
even before officials announce this week which city will host
it. Authorities say they will build an entirely new city with a
university around the exhibition pavilion that would host the
expo in what is now still a desert near the Jebel Ali seaport,
one of the world's busiest. That's where the Emirates is
building what it hopes will be the world's biggest airport.
The city's logo for the expo, an interconnected, geometrical
Arabesque design, also mirrors how its leaders see Dubai: as a
geographical link between Europe and Asia.
"We are ready to host the world in 2020 and we are fully
capable of organizing the best event ever in the history of this
global gathering," Dubai ruler Sheik Mohammed bin Rashid wrote
on his Twitter page last month.
Despite the Dubai expo's planned theme of sustainability, not
all world's fairs have been profitable. The last world expo in
Shanghai in 2010 was a success that showcased China's rise as a
modern industrial power. However, the Hanover, Germany, fair in
2000 drew far fewer visitors than expected and lost an estimated
$1 billion.
Dubai estimates a successful Expo 2020 bid will generate $23
billion between 2015 and 2021, or 24 percent of the city's gross
domestic product. They say total financing will cost $8.4
billion. They believe some 17.5 million visitors from outside
the Emirates will come to Dubai for the six-monthlong event.
Since the United Arab Emirates' unification 42 years ago,
Dubai has evolved from a desolate corner of the Arabian
Peninsula into a global hub for business. Its residential
property boom over the years has been a magnet for the world's
super-rich. Recent investors include Syrian, Libyan and Egyptian
millionaires waiting out unrest back home.
