From Oil Riches to Digital Wealth: UAE's Economic Transformation
By H.E. Omar Sultan Al Olama 10 October 2023
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The UAE is entering a new growth era where the digital economy will play a pivotal role in creating opportunities based on knowledge and innovation to achieve unprecedented growth across a wide range of industries. New strategic initiatives are being put into place to increase the digital economy’s contribution to the GDP from 9.7% to 19.4% by 2030.
Dubai is playing a major role in moving the UAE’s digital economy forward by embracing, advocating and pioneering innovative concepts and technologies including the Metaverse, Web3, blockchain, artificial intelligence, and digital assets.
The establishment of the Dubai Digital Authority and the adoption of new laws regulating the use of data are vital developments boosting the Emirate’s reput
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