Cloud computing to add $13.7bln to Oman’s GDP over next 10 years: AWS

Cloud computing to add $13.7bln to Oman’s GDP over next 10 years: AWS

Muscat – The rising adoption of cloud computing technology by the public and private organisations in Oman is expected to contribute around US$13.7bn to the sultanate’s gross domestic product (GDP) over the next 10 years, according to a new study conducted by Amazon Web Services (AWS).

AWS, an Amazon.com company, commissioned a new report quantifying the relationship between public cloud computing adoption, national productivity, and economic growth in the Middle East and North Africa (MENA) region.

The report highlights the potential for the MENA region to unlock US$733.1bn of additional economic value over the next decade (2023-2033), representing 1.14 per cent of MENA’s cumulative GDP, by accelerating adoption of cloud.

The AWS study provides a cutting-edge econometrical method for calculating the aggregate productivity gains realised by economies that adopt cloud computing.

Cloud computing represents the delivery of IT resources via the internet with pay-as-you-go pricing. Instead of buying, owning, and maintaining their own data centers and servers, private firms and public sector organisations can acquire technology such as computer power, storage, databases, and other resources on an as-needed basis.

In 2021, cloud adoption made a significant impact on the MENA region’s economy. According to the AWS report, it contributed 0.97 per cent to the regional