Photo Credit (Arab News)


The UAE's national digital economy is expected to grow from $38 billion to $140 billion by 2031, according to a new report.

According to Arab News, the report states that the Emirates is successfully advancing its digital transformation journey.

The emirate plans to attract more than 300 digital startups and 100 tech experts to Dubai by 2024, according to a forecast by the Dubai Chamber of Digital Economy.

Dubai Chambers is also looking at implementing new laws and policies, organizing conferences, promoting digital transformation and enhancing the business environment to attract global digital firms to the emirate, according to the UAE's official news agency WAM.

UAE Minister of State for Artificial Intelligence, Digital Economy and Remote Work Applications and Chairman of the Dubai Chamber of Digital Economy Omar Sultan Al Ulama said that Dubai aims to become a leading technological hub in the region.

He further said that their aim is to increase the contribution of the digital economy to the UAE's gross domestic product from 9.7% to more than 20% by 2031.

Omar Sultan Ulama also emphasized the development of world-class digital infrastructure in the UAE, support for a vibrant startup ecosystem to drive digital transformation and sustainable business growth.

He emphasized on the importance of raising awareness about the challenges and future trends in the field of technology and also highlighted the need to adopt digital technology for sustainable business growth.

The UAE Cabinet approved a new Digital Economy Strategy in April 2022 that includes more than 30 initiatives and programs targeting six sectors and five new growth areas.