A Journey to the Apex of Dubai's Digital Economy

The world we live in today is almost unrecognisable to someone from just a couple of decades ago.

Digitalisation has made it to almost every economic and social activity, radically transforming the way we live our lives, and the way our societies, businesses, and economies function.

While only half a century old, the UAE’s economic, social, and technological transformation has propelled our young country to the fore, on par with the most developed nations of the world. The tremendous progress we have achieved – and at lightning speeds – has commanded international attention.

Over the past two decades, there have been several digital transformation initiatives implemented across the country, which have facilitated the adoption of innovative technologies within all segments of society. But the  transformation goes far beyond just introducing digital technology, Dubai and the UAE have been working to build a full-fledged digital economy.

Having a developed digital sector is one thing, but a ‘digital economy’ indicates that digitalisation has gone far deeper, spreading across every sector of the economy. And this is where we are in the UAE; we have adopted an ambitious strategy that aims to double the contribution of the digital economy to the country’s GDP, taking it from 9.7% to 19.4% over the next decade1.

Leading the Tech Transition

Dubai, for its part, is spearheading this transition, embracing avant-garde technologies from Web 3.0 to the metaverse, and from blockchain to artificial intelligence. The emirate has led the charge on the tech front and is now home to a highly advanced technological infrastructure, rolling out gamechanging smart city solutions.

These accomplishments, coupled with the backing of our government and our leadership, empower Dubai to truly become one of the most advanced Silicon Valleys of the region, and of the world. The emirate can, in fact, already claim that status - Dubai alone accounts for 57% of scaleup funding in the MENA region and is home to 39% of the region’s scaleups2.

Dubai's Significant Achievement

The formation of the Dubai Chamber of Digital Economy by His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE, Ruler of Dubai, was a major milestone to recognise Dubai’s
pioneering role in building the digital economy, building on it and expanding it to meet and exceed future requirements.

One of three chambers operating under Dubai Chambers, the Dubai Chamber of Digital Economy strives to capitalise on new opportunities emerging from digitalisation and the expansion of Fourth-Industrial-Revolution (4 IR)
technology across all sectors of business, generating new and bold initiatives to attract digital companies to Dubai and elevate the emirate’s position as a one of the most innovative global hubs for digital businesses.

The best proof we can provide entrepreneurs and techpreneurs looking to relocate to Dubai is to highlight the scores of successful start-ups that have either emerged from the emirate or came to Dubai from around the world to set up shop. This report does just that; passing the microphone to start-up and SME owners and letting them tell the world why Dubai will become the next digital economy capital of the world.

To discover the keys to UAE's digital economy success, read the full report here.

 

1 https://mediaoffice.ae/en/news/2022/April/11-04/Mohammed-bin-Rashid-chairs-the-cabinet-meeting
2 http://wam.ae/en/details/1395303034440