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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.

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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.

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Abu Dhabi To Develop $1 Billion eSports Island Facility

Positioned along the picturesque Al Raha beach, the venue is poised to become a focal point for gaming enthusiasts worldwide.

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abu dhabi uae to develop $1 billion esports island facility
True Gamers

Despite the economic slowdown of global eSports, the Middle East has emerged as a beacon of innovation and investment, particularly in infrastructure aimed at attracting top talent. According to a report by BCG, the region’s population exhibits a remarkable fondness for gaming, with over 60% actively participating and some of the highest figures of mobile game downloads in the world.

The latest addition to the UAE’s burgeoning eSports landscape is Abu Dhabi’s ambitious eSports Island project. Positioned between the Al Bandar and Al Dana developments along the picturesque Al Raha beach, the island is poised to become a focal point for esports enthusiasts worldwide.

True Gamers — a key player in the gaming industry — has pledged a substantial investment of $280 million to develop Abu Dhabi’s eSports Island. Upon completion, the project is anticipated to cost a staggering $1 billion.

true gamers esports island details

The island will boast state-of-the-art amenities geared towards training aspiring eSports professionals and hosting international tournaments. The GG Bootcamp, equipped with cutting-edge gaming infrastructure, will provide a comprehensive training facility, dedicated rest areas and even nutrition programs.

At the heart of the eSports Island lies the True Gamers (TG) Arena, envisioned as a premier venue for hosting high-profile competitions with thousands of spectators. Adaptable spaces are designed to cater to various gaming formats and genres, and the arena will also serve as a hub for digital exhibitions and conferences. Additionally, the Digital Tower will offer a collaborative workspace for developers, and the island will host tourists and event goers in 200 rooms with in-built gaming computers.

Also Read: Top 10 Best Video Games Set In The Middle East

Establishing an eSports hub in Abu Dhabi will reinforce the UAE’s position as a global market leader, capitalizing on the region’s growing appetite for gaming. As international tournament organizers increasingly focus on the Middle East, the unveiling of Abu Dhabi’s eSports Island heralds a new era of innovation and growth for the industry.

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