Dubai Metaverse

Dubai sets up committee to keep abreast of the latest developments in the digital economy to make Dubai a The World’s “Major City in the Metaverse

According to Sheikh Hamdan, Dubai Leadership Group Crown Prince and Deputy Prime Minister They agreed to push Metaverse as the main economic driver to the point of establishing Coommitee, a committee that oversees the development and exploration of key technologies in the creation of the Metaverse.

The establishment of a high-level committee to oversee Dubai’s future technological developments reflects the importance of facing the future with an open mind. This move will allow us to truly understand reality and explore the Dubai metaverse as to whether it could help shape the future of Dubai and the UAE. to maximize future business opportunities

Dubai set a goal

However, Dubai aims to bring Metaverse to $4 billion in value to its economy by 2030, and in the future it wants to make Metaverse account for up to 1% of GDP as well.

This metaverse push is not only helping drive the digital economy. But it also has a positive effect on other sectors such as improving engineer productivity or helping medicine reach more people. This is an industry that will provide a technology foundation for many other industries.

Dubai Rulers’ Vision

The Dubai rulers, Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum the crown prince and the deputy prime minister, Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, reportedly “reviewed vital technology trends in the metaverse and issued directives to form a task force to track the latest developments in the digital economy.”

According to Sheikh Hamdan, the creation of the task force will likely help Dubai in its endeavour to become “a key city in the metaverse.” Extolling the decision by the country’s rulers to make Dubai a leader in the metaverse race, the crown prince said:

The directives of His Highness Sheikh Mohammed bin Rashid to form a higher committee to supervise Dubai’s future technological developments reflect the importance of facing the future with an open mind. The move will help us fully understand reality and explore unique ideas that will shape a brighter future for Dubai and the UAE, maximising future business opportunities.

Metaverse Dubai
Metaverse Dubai

The Metaverse’s Contribution to Dubai’s Economy

Sheikh Hamdan, who is also the chairman of the Dubai Executive Council (DEC), revealed that the task force is already working on “key pillars and the objectives of the Dubai Metaverse Strategy.” This strategy, according to a report published by Wam, seeks to “increase the contribution of the metaverse sector to Dubai’s economy to US$4 billion by 2030.”

The Dubai rulers are also looking to increase the metaverse’s contribution to Dubai’s gross domestic product (GDP) to one percent, the report said.

Meanwhile, the report said the task force is seeking to implement metaverse technologies, which in turn will help improve the performance of resident surgeons by 230 percent and increase the productivity of engineers by 30 percent.

In addition, the report said there were expectations business revenues from the metaverse could surge to $400 billion by 2025, from the current $180 billion.

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