The UAE Digital Economy to reach Dh 514 billion by 2031

A Dubai Chamber of Digital Economy report suggested that the UAE digital economy will grow more than AED 514 billion by 2031. The report was published in line to strengthen the digital economy ecosystem in Dubai. The report explains the role of the Dubai Chamber in supporting digital economy strategies. It will also help cement Dubai’s position and make UAE the leading global destination for digital companies. As one of the top 10 marketing research companies in Dubai, we can confirm that many digital entrepreneurs wish to relocate to the Emirates. In addition, Dubai is the most searched travel destination globally.

The forecasted increase in the contribution of the UAE digital economy as well as reflecting Dubai’s endeavors to establish itself as a key tech hub globally. UAE plans to create a world-class digital infrastructure and support the dynamic start-up ecosystem. The strategic plans will also focus on achieving the objectives of the Dubai Economic Agenda (D33). Especially in terms of driving digital transformation and developing a sustainable business sector. It is also expected to add an average of AED 100 billion per year in economic value to Dubai’s economy.

Dubai Digital Economy – Startups

A key aspect of digital transformation is to create awareness about the importance of digital transformation as an engine of sustainable growth for businesses. Approximately 96% of all funds raised in the UAE since 2017 have been raised by startups headquartered in Dubai. In 2021, all startups across the entire country raised AED 4.4 billion. A vast majority of funds went to Dubai-based startups. Dubai’s startups raised more than AED 7.3 billion in 2022, more than double the funding figures in 2021.

The study reveals some of the Chamber’s upcoming plans, which include attracting 300 digital startups to Dubai by 2024. The plans include attracting 100 international experts in advanced technologies and improving laws and policies to support the growth of the digital economy. Furthermore, the Chamber aims to organize an international conference to promote digital transformation and enhance the business environment in the country. Earlier this month, the UAE government announced to reduction of governmental fees for 14 business services. In 2022, Dubai launched 50 offices globally to promote commerce. The aim was to showcase the rapid and diversified growth of Dubai to potential investors. 

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