From the editor's desk
Though our eighth edition covering Dubai, 2020 marks an unprecedented year for The Business Year and the Emirate. Indeed, it marks an unprecedented moment for the world; as we were preparing this edition for printing, COVID-19 and its economic impacts caught much of the world off guard. The turn of a decade and the intended year of Expo, all gazes remain on Dubai as the first city in the Middle East to host a World Expo event. Dubai will fulfill this title, just one year later than expected.
Delays in supply chains and the near-complete stop of all movement have greatly hindered countries’ abilities to successfully finish their pavilions and preparations for the event. It is with caution, but also optimism, that the official decision to delay Expo until October 2021 was announced. Nevertheless, the Emirate and the world persevere on the journey to Expo. As many economic stakeholders so often assert, agility and ability to adapt to change are crucial. That sentiment is being tested. We foresee minimal issue in Dubai, a market accustomed to disruption. Even before the outbreak of the pandemic, the skeptics were drowned out by those who reaffirmed Dubai’s tenacity, offering some variation of the sentiment that Dubai keeps its word. What Dubai says it will do, it does. Indeed, Dubai claims several superlatives.
And to clarify, Expo 2020 will not be the silver bullet. But EY’s estimated total economic impact of AED122.6 billion is not just a drop in the bucket. It could very well be the changing of the tides. This provided a distinct backdrop for our conversations with both public and private sector leaders as we approach “the world’s greatest show.” Some things haven’t changed; in fact, they are only more relevant. The six-month event promotes the theme of “connecting minds, creating the future”—notably very much in line with our mission of showcasing and linking individuals’ economic insights—as well as subthemes of opportunity, mobility, and sustainability. Just as the Expo site will host a district dedicated to each sub-theme so too does our editorial coverage with designated chapters. Mirroring Dubai’s emphasis on innovation, we welcomed the chance to redefine the scope of The Business Year’s more traditionally structured chapters.
Along with embracing updated chapters comes the opportunity to expand our interviewees, connecting more minds and creating a more inclusive future. Never-before featured interviewees include Pope Francis, a strong proponent of inter-faith cooperation, and Henrik von Scheel, the often-dubbed originator of the Industry 4.0 concept who is committed to helping the UAE lead the world through the Fourth Industrial Revolution. Key to propelling the Emirate into the new decade would be this unrelenting focus on innovation.
Dubai could be considered a city of firsts, and another first for any of our publications is this edition’s Islamic economy thread. Interwoven throughout the edition—much like Islamic economy’s contributions to GDP intricately intertwined with the broader economy, we took a more in-depth look at Islamic finance, Halal industry, Islamic lifestyle this year.
We excitedly share this Journey to Expo edition, but much like the Emirate, it goes far beyond Expo. ✖