For several years, the UAE’s strategy has been clear in its desire to become an influential country on the international scene. It is therefore no surprise that the country has launched an aggressive strategy to make Dubai one of the world’s top ten metaverse economies by 2030.
This strategy is the result of a particularly business-friendly policy. In concrete terms, Dubai is a success story in this respect, with more than 1,000 blockchain and metaverse companies having turned to the city to launch their projects.
To maintain this positive momentum, Dubai has the ambition to strengthen its leadership position within the field by building on three distinct pillars.
Firstly, it wants to place a strong emphasis on the development of augmented reality and virtual reality. Secondly, real-time data exploitation, artificial intelligence and machine learning will be top priorities. Finally, the blockchain as a whole will have to become the core of this strategy in the long term.
Dubai aims to create over 40,000 jobs in the metaverse by 2030
The desire to become an international reference for the web3 and the metaverse is necessarily accompanied by the creation of jobs. Indeed, it is impossible to rely solely on entrepreneurs to provide a stable economic base over the long term.
In fact, Dubai’s metaverse strategy is accompanied by the desire to create more than 40 000 jobs in the metaverse by 2030. This goal is expected to boost Dubai’s economy while achieving the objective of increasing the number of blockchain companies in the country by five.
Specifically, the strategy aims to encourage innovation, strengthen the economic incentives of the metaverse through research and development (R&D) collaboration and promote advanced ecosystems using accelerators and incubators that attract companies and projects to Dubai.
In addition, the plan should promote individual talent and ambitious businesses by providing educational support to developers, content creators and DApps users to enable them to understand the metaverse globally.
This plan is to be part of the UAE’s artificial intelligence strategy to strengthen the country’s status as a world leader in futuristic sectors.
Firstly, the Crown Prince of Dubai, Sheikh Hamdan bin Mohammed, stressed “the importance of consolidating Dubai’s status as a centre delivering the most advanced ecosystem for the metaverse and as a pioneer in the option of digital solutions globally”.
This optimism is shared by the Minister of State for Artificial Intelligence, Digital Economy and Telework Applications, Omar bin Sultan Al Olama, who states “the importance of designing the future with new digital strategies to adopt the metaverse in the country’s vital sectors”.
With analysts estimating that the metaverse is expected to generate up to $5 trillion to the global economy by 2030, Dubai is increasingly emerging as an ideal destination for blockchain and crypto-currency entrepreneurs and creators.