Experts from BCG and L.E.K. Consulting to speak at education event in Dubai

08 August 2018

Education market experts from global advisories The Boston Consulting Group and L.E.K. Consulting have been scheduled to speak at next month’s International and Private Schools Education Forum conference in Dubai.

Held across the 21-23 September in Dubai’s International Academic City, the International and Private Schools Education Forum (IPSEF) conference will see education sector stakeholders and decision-makers from across the world convene for a series of workshops, roundtables, and keynote presentations from a variety of industry experts.

Representing platinum event sponsor L.E.K Consulting at the conference will be Ashwin Assomull – a founder of the firm’s Education practice and current leader of its Southeast Asian branch – along with associate and L.E.K. Senior Manager for the firm’s global education practice Chinmay Jhaveri, while BCG Principal in Dubai Maya El Hachem will present on behalf of the MBB strategy and management firm.

Together, the consultants have more than 40 years of experience, working for a diverse cross-section of leading firms in almost every corner of the globe. Assomull, who was made Partner at L.E.K. earlier this year and is currently based in Singapore, originally crossed from Parthenon, where he was a Partner in the firm’s leading Education Practice. Prior to joining Parthenon’s Middle East base, Assomull was a Director at Deloitte, including a stint with the Big Four firm in India, and earlier spent four years as a consultant and manager with PwC.

Assomull’s colleague Jhaveri is likewise a Parthenon alumnus, starting out as a principal with the firm in Mumbai before going on as a Vice President to lead cases and business development efforts for the firm’s Centre of Excellence in Education. Earlier, Jhaveri spent four years as an associate and senior associate in transaction advisory services with Ernst & Young. BCG’s El Hachem meanwhile, spent over seven years with Booz & Company (now Strategy&) as a senior associate and engagement manager in the Middle East.Experts from BCG and L.E.K. Consulting to speak at education event in DubaiIn a recent BCG report on the GCC education sector, authored by El Hachem and noted education expert and BCG Partner & Managing Director Leila Hoteit, the firm concluded an expected doubling of the K-12 private education market over the next five years, growing to a worth of $26 billion by 2023. For the UAE, 73 percent of the nation’s total students were enrolled in private education last year.

Likewise, according to the latest data from specialist education analysis firm ISC Research – released ahead of the IPSEF conference, the number of private international schools in the Middle East has ballooned from approximately 1,150 to nearly 1,600 in the space of the past five years – with the UAE featuring the clear greatest number, recorded at some 624 schools.

With the full figures to be presented at the event, IPSEF co-founder Rhona Greenhill said of the current sector; “The growth of the international schools' market in the Middle East further confirms the role education plays in the development agenda of governments in the region. A number of initiatives have been set in place to enable private companies to establish local branches or independently set-up international schools and help support the growth of the education sector as a whole in this part of the world.”

Greenhall also pointed to a unique experience for IPSEF delegates; “This year's edition promises an unconventional conference experience with yoga sessions and healthy debates happening in a boxing ring, thanks to the support provided by KHDA which allowed us to use their facilities for our event. With the new set-up, we not only hope to innovate how conferences are being conducted, but also aim to foster better discussions and networking among delegates.” 

EY estimates $33 billion boon to UAE economy from Expo 2020 Dubai

16 April 2019

Professional services firm Ernst & Young has outlined the potential economic impact of Expo 2020 Dubai to the UAE economy, concluding a possible $33 billion windfall in gross value add and a near 50,000 full-time equivalent jobs per annum to 2031.

With the Expo 2020 Dubai global showcase now just around the corner – and expected to attract 25 million visits from across the world during its six month schedule from October next year – professional services firm Ernst & Young has released an economic impact report for the event, calculating a US$33 billion (AED122.6 billion) boost of gross value added (GVA) to the local economy from 2013–2031 along with contributing more than 900,000 ‘job years’.

“Expo 2020 Dubai is an exciting long-term investment for the UAE, and is expected to have a significant impact on the economy and how jobs are created directly and indirectly,” said EY MENA Transaction Advisory Services partner Matthew Benson, adding; “Dubai aims to use the event to further enhance its international profile and reputation. The event will celebrate innovation, promote progress and foster cooperation, and entertain global audiences.”

According to the report, the six months of the Expo – the first to be held in anywhere in the Middle East, Africa or South Asia in the event’s 168-year history – will contribute around 1.5 percent of the UAE annual forecast GDP, with the analysts taking in ‘direct’ increases in economic activity, ‘indirect’ benefits of increased supply chain demand, and ‘induced’ benefits from increased spending by employees of participating firms to arrive at its $33 billion figure.EY estimates $33 billion boon to UAE economy from Expo 2020 DubaiConsidering further the planning and legacy phases, EY has in addition estimated AED 4.7 billion in investment to small and medium enterprises (SMEs) during the pre-Expo phase, supporting approximately 12,600 job-years, with the Expo expected to support more than 900,00 full-time equivalent (FTE) job-years in total in the Emirates from 2013 to 2031 – equivalent to some 49,700 FTE jobs. Meanwhile, strong legacy planning will ensure the ongoing benefits.

“Over 80 percent of the Expo built environment is planned to be retained for District 2020, and eventually expand into a city covering more than four million square meters,” states the report, adding that District 2020 aims to support the UAE’s future vision as to sustainable economic development and an innovation-driven economy, with a supportive business environment for key growth industries such as logistics and transport, tourism, construction, real estate and education.

“Although the Expo event lasts less than a year, the positive economic impact continues far beyond the event,” said Jamie Torrens, EY MENA’s head of Economic Advisory in its transaction advisory service division. “Across the period of our study, spanning the Pre-Expo, During-Expo and Legacy phases between 2013 and 2031, Expo 2020 is expected to support billions of dirhams of Gross Value Added (GVA) and thousands of jobs in the UAE.”

As a breakdown, the three largest impact areas across the full study period will be events organisation & business services (contributing over half of the overall figure) followed by construction and then hospitality, while transport, storage & communications will be another significant contributor during the life of the Expo and its planning phase. Retail will also see a boost during the legacy period, with nearly 550,000 jobs years created in this period across sectors.

“This independent report demonstrates that Expo 2020 Dubai is a critical long-term investment,” said Expo 2020 Executive Director Najeeb Mohammed Al-Ali. “Not only will the event encourage millions around the world to visit the UAE in 2020, it will also stimulate travel and tourism and support economic diversification for years after the Expo, leaving a sustainable economic legacy that will help to ensure the UAE remains a leading destination for business, leisure and investment.”

Related: Accenture and SAP roll out next-generation technology for Dubai Expo