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UAE’s digital economy to reach $140 billion by 2031

The report outlines Dubai's aim to become a future digital capital

by Staff Reporter
UAE’s digital economy to reach $140 billion by 2031

The Dubai Chamber of Digital Economy, part of Dubai Chambers, has released a report outlining its plans to grow Dubai’s digital economy. The report projects that the digital economy in the country will increase from its current value of $38 billion to $140 billion by 2031.

The report emphasises the significance of the chamber’s actions and partnerships with stakeholders to make Dubai the world’s digital economy hub. It outlines the digital startups in Dubai and the emirate’s aim to become a future digital capital.

The chamber’s strategy includes:

  • Bringing 300 digital startups and 100 tech experts to Dubai by 2024
  • Upgrading laws and policies
  • Holding a conference
  • Fostering digital transformation
  • Improving the business climate to attract global digital companies

Digital economy growth

The target of increasing the digital economy’s contribution to UAE’s GDP from 9.7% to over 20% by 2031 shows Dubai’s aspiration to become a major tech hub, said Omar Sultan Al Olama, Minister of State for Artificial Intelligence, Digital Economy, and Remote Work Applications, Chairman of Dubai Chamber of digital Economy.

He stressed the need for a top-notch digital infrastructure and supporting the thriving startup ecosystem to facilitate digital transformation and sustainable business expansion.

Al Olama also emphasized the significance of awareness about challenges and future trends and showcasing the impact of digital transformation on sustainable business growth.

tanvir@dubainewsweek.com

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