Riyadh beats South Korea's Busan to host World Expo 2030
Riyadh, the capital of Saudi Arabia has won the hosting role of the Expo 2023 World Fair. It is another victory for a gulf country after winning the Soccer World Cup in the last year in Qatar. Busan and Rome were also on the list to host the 5-yearly event that attracts visitors from all over the world and billions of dollars of investment. According to the reports from the International des Expositions, Riyadh won the title with 119 votes, whereas Rome got 17 and Busan 29. Giampiero Massalo, the head of the Italian Expo bid stated that the result was unexpected and is not based on the merits but on the transactions. South Korean President Yoon Suk Yeol appreciated Riyadh for winning the title and described the state ‘a key partner’. He added that South Korea would provide the resources and experience to assist Riyadh in hosting a successful event. Riyadh enlisted Cristiano Ronaldo, who plays for the Al-Nassa Saudi club, to make other members understand and become convinced. The event is planned to be hosted between October 2030 and March 2031.
Riyadh’s victory is an advantage for de-facto ruler Crown Prince Mohammed bin Salman for his Vision 2030 program, which aims to stop oil dependency. Saudi Foreign Minister Prince Faisal bin Farhan Al Saud said that the government has a wonderful team of ministers working with their counterparts actively to recognize their expectations, needs, and their capabilities. Critics believe that Prince Mohammed will use the event to enhance the image of the country after the murder of Saudi journalist Jamal Khashoggi in 2018, which is believed that doneaccording to the prince’s order. Saudi had won the French support and it is said that French support was for Saudi’s help on other issues in French diplomatic priorities.
Other news
-
06.03.2024
China Set to Reveal GDP Goal, Avoids “Bazooka” Stimulus at Annual Political Meeting
-
29.02.2024
UAE's Haifin Sets Sights for AI-Powered Trade Finance Fraud Detection
-
27.02.2024
Global Instability Threatens World Economy, WTO Chief Warns
-
23.02.2024
Emerging economies struggle to service debts as growth stalls and rates rise
-
16.02.2024
Gaza Conflict and Red Sea Attacks Pose Economic Risks
-
05.02.2024
India Pushes for More Market Access in South Korea
-
05.02.2024
Sri Lanka Signs Free Trade Agreement With Thailand To Boost Economic Ties
-
30.01.2024
Red Sea Crisis May Trigger Egyptian Currency Devaluation, Warns S&P
-
29.01.2024
IMF Extends $941 Million Loan to Aid Kenya's Economic Struggles
-
25.01.2024
China Cuts Bank Reserve Requirements to Bolster Fragile Recovery
Exchange Rates
- 27.07.2024
- Find out more