News

MENA Digital Economy Set To Hit $400 Billion By 2030

Education and health technology sectors alone are forecast to reach a combined market size of $20 billion by 2030.

Published

2 years ago

October 6, 2022

mena digital economy set to hit $400 billion by 2030

Although COVID-19 sent shockwaves through brick-and-mortar retail businesses and decimated the travel industry, the world’s digital economy actually reaped enormous benefits from lockdowns and reduced movement.

According to newly released data, the digital economies of the Middle East and North Africa (MENA) countries are now estimated to be worth an incredible $400 billion by 2030.

To reach the enormous milestone in under ten years, the entire region’s economy will need to undergo rapid transformation. Sectors including food, travel and bill payment have declined in recent years. However, health and education technology appear to be booming — though predictably, online retail is driving much of the growth, increasing at a rate of 20% per year alone.

According to the report, Generation Z will fuel a great deal of the decade’s growth, and the expansion of EdTech services will require significant skill development, with schools and higher education institutions adding new technology-focused courses to their curriculums.

Also Read: Saudi Arabia To Send First Female Astronaut Into Space By 2023

Saudi Arabia and the United Arab Emirates have already significantly contributed to the region’s global digital expansion. Future growth is anticipated to be more evenly spread among the MENA countries, as the two leading nations currently account for half of the area’s total digital economy.

According to the new survey, the rest of the MENA region is improving in its rate of digital adoption, with the time spent on digital channels now nearing 8 hours per day, which is a figure similar to the United Arab Emirates and Saudi Arabia.

News

1,000 Drones Light The Dubai Sky For AC Milan Celebration

Cyberdrone’s groundbreaking display marked 125 years of AC Milan football club and the 1st-year anniversary of Casa Milan Dubai.

Published

17 hours ago

November 21, 2024

Nour Nasir

Cyberdrone, a leading UAV display company based in Dubai, put on a breathtaking drone light show on Monday to honor two significant football milestones: AC Milan’s 125th anniversary and the one-year anniversary of Casa Milan Dubai.

The spectacle involved 1,000 drones working in perfect harmony to project AC Milan’s iconic imagery against the city’s night sky. Highlights included the UAVs synchronizing to form the club’s iconic crest, the signature red and black jersey, and a special emblem marking its 125th year. The intricate performance demanded meticulous planning, not just in terms of choreography, but also in dealing with the necessary permits and logistics.

cyberdrone ac milan dubai

“Our goal was to spotlight AC Milan’s legacy through a stunning visual narrative,” explained Mohamed Munjed Abdulla, Director of Sales at Cyberdrone. “We celebrated the club’s history, its Dubai milestone, and the universal love for football. The show also enhanced AC Milan’s regional presence, growing its fanbase through a cutting-edge, memorable experience. Drone shows are unparalleled in leaving lasting impressions, making them perfect for driving partnerships and growth”.

Also Read: Joby Begins Construction Of Dubai’s First Vertiport For Air Taxis

Greta Nardeschi, AC Milan’s Regional Director for MENA, echoed the sentiment, adding: “Collaborating with Cyberdrone for this 1,000-drone performance allowed us to connect with our fans in innovative ways. It gave us a unique opportunity to surprise and inspire audiences while elevating our Club’s visibility and that of our partners. Cyberdrone truly helped us take AC Milan to new heights”.

This groundbreaking drone display sets a new benchmark for the Middle East’s sports sector, which already contributes around $2.4 billion annually to Dubai’s GDP alone. Sporting events also generate $1.76 billion in revenues across the region, while the MENA’s entertainment sector, valued at $41.13 billion, is growing at 9.41% annually, driven by rapid technological advancements.