New post Need visibility? Apply for a FREE post for your Startup.  Apply Here

Now you knowRandom

UAE’s Bet On The Metaverse

1 Mins read

Tourism in the United Arab Emirates (UAE) is a vital component of the Emirati economy. In 2018, the tourism industry contributed over 164.7 billion
dirhams ($44.8 billion) to the country’s GDP. Tourism in UAE has employed over 604,300 people and is expected to continue growing. Come 2027, the revenue is expected to hit a record increase of 12,4% in the country’s GDP, and the employment rate soaring over 800,000 in the industry.

UAE represents one in many countries whose leaders are thinking outside the box, far beyond what the eyes can see, stretching into the future and maximizing all there could ever be.

The Metaverse is a network of digital spaces intended as an extension of the physical world where users will be able to game, work, study and does business among other things. UAE plans to explore the replete avenues in the metaverse.

Dubai Metaverse Assembly
In a project launched at Dubai’s gleaming Museum of the Future, it announced that the UAE’s economy ministry has started to materialize her move into the immersive virtual world.

UAE’s Minister of Economy Abdulla bin Touq Al Marri speaking at the inaugural Dubai Metaverse Assembly, said

“In the last couple of years we’ve seen investments, we’ve seen companies move in, and with the changes of the (visa) regime… we see talent coming in,”

“We trained our employees to immerse themselves in the metaverse, use the metaverse and engage with the Generation Z that is going to come,” he added.

The UAE has a history of bold projects including the 830-metre (2,723-foot) Burj Khalifa, the tallest tower in the world; The World archipelago and Palm Jumeirah also in Dubai; Sheikh Zayed Mosque and Yas Marina Circuit in Abu Dhabi; Al Hajar Mountains in Fujairah.

In its bid to become one of the world’s top-10 metaverse economies, Dubai wants to attract 1,000 companies specialising in blockchain and related technologies, helped by eased visa rules for freelancers, entrepreneurs and creatives.

“We thought the metaverse is a phase technology” that might take 10 to 20 years to emerge, Covid-19 immersed us so fast and expedited the use of the metaverse – Al Marri added”

144 posts

About author
We are the same, we may only be different in our experiences, values and exposures. Technology is a big part of my experience, learning is one of my values and writing my credible means of exposure.
Related posts
Artificial IntelligenceNewsRandom

Google Set To Launch Its Own AI Chatbot To Face Off ChatGPT

1 Mins read
The euphoria of ChatGPT has continued to send shivers up and down the technology space since its release in November 2022. Launched…
Now you knowRandomStartups

Web3 Startup ValuesCo Raises $2.7M In Seed Funding

1 Mins read
Web3 technology continues to gain traction within the technological space with the surge in adoptions and the emergence of many startups building…
Now you knowRandomStartups

San Francisco Crypto Integration Platform Hatchfi, Raises $1.2M In Pre-Seed Funding

1 Mins read
Founded in 2022 by Carlos Feliciano and Casey Wilcox, Hatchfi is a San Francisco crypto integration platform that allows users to seamlessly…
Get powered up with Techpadi Newsletter

Be the first to know what's happening in the African tech space

Leave a Reply