Mustafa Abdul Azim (Dubai)
Hosting Expo 2020 Dubai added about 75.6 billion dirhams ($20.6 billion) to the economic value of the UAE’s media identity during the year 2023, reaching 3.5 trillion dirhams ($957 billion), according to Brand Finance.
The international institution specialized in evaluating the brands and strategies of countries and companies stated that the great success achieved by Expo 2020 played a prominent role in consolidating the soft power of the UAE and its rise five places to rank tenth globally in the Soft Power Index 2023, an increase of 3.2 points, as Expo 2020 achieved. Dubai 61.6% of the gains.
The strength of Expo 2020 DubaiThe Foundation said that the economic value of the media identity of the UAE increased by about 24%, from 2.83 trillion dirhams (773 billion dirhams) to 3.5 trillion dirhams (957 billion dollars), as Expo contributed about 11.2%, or the equivalent (20.6 billion dollars). ) of this increase, while it contributed about 63.8% (1.1 points) to the total increase recorded in the state’s media identity strength index from 76.7 points to 78.4 points.
The Foundation indicated that Expo 2020 Dubai, which was organized from October 2021 to March 2022, was the first major global event to be organized during the Covid-19 pandemic, with the participation of 192 countries, and it attracted 24 million personal visitors, 30% of whom were from abroad. And more than 250 million “virtual visitors”, and the format of the most comprehensive event in the history of the World Expo, confirming that the impact of the exhibition exceeded expectations.
Exceptional gains
Brand Finance added in a report that the impact of Expo 2020 Dubai was not fleeting and is still tangible, with exceptional gains across multiple dimensions in the Brand Finance Global Soft Power Index 2023, according to the unique survey data collected before, during and after the event.
The Foundation indicated that the research unit of Brand Finance concluded that Expo 2020 led to an increase of 75.6 billion dirhams ($ 20.6 billion) in the economic value of the media identity of the United Arab Emirates, after it contributed to the consolidation of the country’s position on the global stage, at a time when it seemed The world is isolated because of the epidemic.
The Foundation said that hosting Expo 2020 Dubai is enhanced by the boldness and optimism embodied in the event’s slogan (Connecting Minds and Creating the Future), just about a year after the outbreak of the Covid-19 pandemic, which demonstrated the ability to positively influence global decision-makers while improving perceptions among the general public and global institutions. the other as a result of hosting such an innovative and comprehensive event.
Soft power
Brand Finance explained that the research it conducted on Expo 2020 Dubai showed that the ambition of the event and the extent of its impact are directly related to the cognitive pillars on which the soft power index depends, including “fame”, “business and trade”, “governance”, “international relations” and “People and Values”, noting that among the perceptual elements most affected by the event are “trustworthiness”, “ease of doing business” and “helping other countries in need”.
The UAE maintained its global lead in the national media identity performance index for countries, as it maintained the first place for the second year in a row, and the country entered the list of the top ten globally in the national media identity strength index 2023, and rose to 16th place globally in the economic value index of media identity. It scored the best performance among the top twenty in the index.
The UAE government’s achievement of this advanced evaluation came as part of the national brand strength classification report for media identities of countries issued by the international “Brand Finance” institution, after a survey of the opinions of more than 100,000 people from 121 countries from all over the world.
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