Hold your horses everyone: Dubai really has no clue on whether it won the Expo 2020 bid
Dubai is a city on the edge of its seat this week as we await the verdict of the 167 members of the Bureau International des Expositions committee voting on who will stage the Expo 2020. The result is due next Wednesday 27th.
The Dubai rumor mill is fairly confident that the city has won it. But the reality is far different. Nobody has a clue until the votes in the secret ballot are counted.
Every one of the 167 nations that comprise the Expo committee has a single vote that is cast in secret by a delegate. These delegates can therefore be mandated by their governments to vote for a particular candidate city and yet vote for another in the ballot. It’s a secret ballot so nobody would ever know.
So a city can put up a great campaign – like Dubai with its Cannes award-winning video featuring young Ali – and show 120 of the delegates around town and still be disappointed by the final result.
Naturally Dubai has a considerable bias towards its own candidature and maybe some of the other presentations have been equally or even more persuasive. Who knows what is in the minds of the Bureau International des Expositions delegates as they cast their votes?
Still Dubai can at least be sure that it has done its absolute best and there have been no embarrasing mistakes. Indeed the synergy between UAE nationals and expats in pursuing the bid has shown the same excellence that has made the country what it is today.
If the bid is successful then ArabianMoney will be a very long way down the list of media and supporters who have helped to make this possible. It’s united the nation in pursuit of a common objective unlike anything else in recent history.
Dubai deserves to win the Expo 2020 as the business hub city of this region but if it does not get it we will all be a little richer for having tried.
Our broker friends think a win is worth 15 per cent on stock market prices and estate agents are confident of a boost to the housing market. The intangible benefit to national unity of the pursuit of a common business goal is also not to be underestimated.
- Worth a gasp? Abu Dhabi’s inflation already up 2.1% in 2014's first two months
- What's the attraction? IIF says UAE’s economic stability wooing foreign capital investment
- Public-private partnerships may be key to take Gulf's economic growth to next level
- Blame it on the women: Why KSA businesses are saying govt feminization program costing them millions
- Kazakhstan calling: Astana looking to target $5 billion in investments from UAE