SHANGHAI: Shanghai'S US$44 billion (US$1 = RM3.21) World Expo may secure bigger economic benefits for China's richest city than Beijing reaped from the Olympics two years ago.
The exhibition runs for the next six months, 10 times longer than the games, and is forecast by the organisers to draw 10 times as many visitors.
When guests from French President Nicolas Sarkozy to North Korean deputy leader Kim Yong Nam have gone home, the event will leave Shanghai with an additional US$40 billion of roads, subway lines and airport terminals.
"The World Expo will accelerate Shanghai's infrastructure development by 20 years," said James McGregor, a senior counsellor in Beijing at public-affairs company APCO Worldwide and author of the book "One Billion Customers."
"This may be a better economic proposition than the Olympics."
Shanghai is wagering that the event, opened by President Hu Jintao on April 30, will cement a reputation as a premier destination and as a financial centre after already surpassing Hong Kong's economy in size last year.
General Electric Co, BP Plc, Coca-Cola Co and Johnson & Johnson are sponsors as the city of 20 million hosts the five-yearly event.
The economic benefit may be 79.5 billion yuan (1 yuan = RM0.47), or about 3.5 times Beijing's gain, according to Chen Xinkang, a professor of marketing and business management at the Shanghai University of Finance and Economics.
World expos began with the 1851 World's Fair in London's Crystal Palace and showcased the wealth and technological prowess of Europe's industrialised nations.
Shanghai won hosting rights in 2002, allotting 28.6 billion yuan for construction and operating costs and 270 billion yuan for infrastructure, including two airport terminals and a three- year renovation of the historic riverside Bund.
In comparison, Beijing spent 280 billion yuan on infrastructure for the Olympics, while Japan's Aichi Prefecture spent about US$3 billion hosting the 2005 World Expo.
The main attractions are pavilions of cultural and corporate displays, almost all paid for by the nations and companies they represent. Denmark has shipped across the bronze Little Mermaid statue.
While the Olympics drew 6.52 million tourists, according to the organisers, Shanghai forecasts an influx of 70 million visitors, which may result in 46.9 billion yuan of direct consumption, according to Chen
Read more: Shanghai expo may surpass Beijing's Olympic gains http://www.btimes.com.my/Current_News/BTIMES/articles/Expo_wins/Article/#ixzz0muEnTE3Q
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