UAE is known as a hub of infrastructure that is highlighted by its high raising buildings and well-constructed roads and ports. Apart from that, preparations for Expo 2020 are underway in Dubai and it is putting a positive impact on the overall growth and infrastructure of UAE. This is also revealed in the latest report by a multinational investment bank that ranks UAE as one of the world’s largest investor on infrastructure and also one of the best nations as far as quality of infrastructure is concerned.
According to details, a report by Bank of America Merrill Lynch ranked UAE at 3rd spot in world for investment in infrastructure. The report says that an important reason for such large spending on infrastructure is the upcoming Expo 2020 in Dubai. In March, the expenditure on Expo-related hit $42.5 billion.
As around 2 years are still left in the start of this international exhibition, it is expected that the spending on infrastructure will increase in coming months and years as Dubai would like to complete all its projects related to Expo 2020 as early as possible. Apart from that, total public spending in Dubai is $15.5 billion and 21% of this expenditure is designated for infrastructure projects.
But Expo 2020 is one of the several factors behind this achievement by UAE. There are several more important factors also that took UAE to this position. An important reason that highlights the heavy spending of the Gulf country is its quality of infrastructure. The same report says that UAE is at 4th place worldwide according to quality of its overall infrastructure while the quality of roads in UAE is best in the world. This data is taken from a study of World Economic Forum.
It means UAE is giving much importance to quality of its infrastructure and is ready to spend more on this sector in order to provide best facilities to its residents and millions of tourists that arrive in the country every year.
This latest report along with other stats and figures clearly highlights the scope of businesses related to infrastructural projects while it also shows growth of overall business activities in Dubai and in other emirates of UAE before the start of Expo 2020.
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