(MENAFN - Khaleej Times) The combination of the World Expo in 2020 in Dubai and the Fifa World Cup in 2022 in Qatar is set to provide considerable momentum to regional plastics players, who are expecting demand to swell in the run up to these events.
While Dubai is set to spend more than 18 billion for the World Expo 2020, Qatar has earmarked a staggering 200 billion for the Fifa World Cup in 2022, which could propel plastics usage much over a conservative estimate of nearly six metric tons.
"These mega events are going to have a tremendous impact on the region's plastics producers given that plastic products are heavily used in infrastructure projects, apart from packaging. Apart from infrastructure projects, millions are going to fly into the region, providing a strong boost to plastics consumption," said Saif Mohammed Al Midfa, CEO of Expo Centre Sharjah, ahead of the upcoming Plastivision Arabia 2014 trade fair.
Going by the previous editions in other countries, the World Expo is expected to attract up to 50 million visitors to the UAE and generate 270,000 jobs, drawing in business people, professionals and workers.
Experts note that both the World Expo and the World Cup will be beneficial for the entire GCC region, with the rise in economic activities leading to a spill over of benefits to the rest of the region.
"The long-term benefits from hosting the World Expo 2020 are difficult to be quantified, but I am sure that there are going to be strong economic and cultural advantages that will lay the foundation for the country's future growth. One advantage among them will sure be the rise in domestic consumption of plastics, much of which is exported today," said Al Midfa.
"Combine this with economies that are cruising in the fast lane, the region's plastics producers will have to look at acquiring new machinery and technology to keep pace with the expected heavy surge in consumption of plastics, which has generated tremendous interest in the Plastivision Arabia 2014," he added.
The second edition of the biennial Plastivision Arabia will be held from April 7 to 10 at Expo Centre Sharjah in association with the All India Plastics Manufacturers' Association. The second Arabia Mold exhibition will also be held alongside Plastivision Arabia, in association Demat, the organiser of world-renowned EuroMold, the world's leading fair for mold-making and tooling, design and application development.