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Golden Expo 2010
Shanghai Star. 2003-11-06 By Xu Xiaomin HOLDING the World Expo has been called a "super engine" for any city's economy, and this judgment is widely known.Shanghai's direct investment in the Expo 2010 site amounts to US$3 billion and its indirect investment in industry adjustment, transportation, commercial activities and reconstruction is estimated to range from US$15 to US$30 billion. Such enormous sums will help the city realize its goal of a per capita GDP of US$7,500 ahead of schedule. Statistics show that the first business to benefit directly from a big Exposition is the travel industry. Experts forecast that the number of visitors will surpass 70 million and returns from the sales of tickets, dining and souvenirs will be about 9 billion yuan (US$1.09 billion). In addition, every 1 yuan increase in the travel business will add 4.3 yuan to the returns of other businesses, according to research carried out by the World Tourism Organization. One benefit from Expo 2010 which is already obvious is to real estate values. The price of buildings near the Expo site has risen dramatically. Expo expert Li Zhongxian has also pointed out that the local exhibition business will find many opportunities arising from Expo 2010. Since the 1990s, the number of exhibitions held in the city has been increasing by 20 per cent every year. The huge amount of infrastructure construction required for the six-month-long Expo will also create more than 100,000 jobs in the city. |
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