UAE: Digital economy set to grow to over $140 billion by 2031

UAE: Digital economy set to grow to over $140 billion by 2031

The study highlights Dubai's endeavours to establish itself as a key tech hub and leading global destination for digital companies

By Web Desk Published: Tue 31 Jan 2023, 8:56 PM

A recent report estimates that UAE's national digital economy will grow to well over $140 billion in 2031. The report was published by the Dubai Chamber of Digital Economy as part of its efforts to strengthen the digital economy ecosystem in Dubai and achieve the goals of the Dubai Economic Agenda (D33).

The study, titled ‘Dubai’s Digital Economy and its Thriving Startup Ecosystem’, was published in collaboration with Entrepreneur Middle East. It explains the role of the Chamber in supporting digital economy strategies and achieving the wise leadership’s objectives to cement Dubai’s position as a global capital of the digital economy.

Omar Sultan Al Olama, Minister of State for Artificial Intelligence, Digital Economy, and Remote Work Applications, Chairman of Dubai Chamber of Digital Economy, said that doubling the contribution of the digital economy to the UAE’s GDP from 9.7 per cent to over 20 per cent by 2031, reflects Dubai’s endeavours to establish itself as a key tech hub and leading global destination for digital companies.

Al Olama stressed that the UAE’s pioneering initiatives to