News

Metaverse Will Bring $15B Annually To Gulf Economies By 2030

The travel and tourism industries alone will gain $3.2 billion once the virtual universe reaches its full potential.

Published

2 years ago

December 8, 2022

metaverse will bring $15 billion to gulf economies by 2030

Saudi Arabia and the United Arab Emirates are already heavily invested in the development of the Metaverse, and the tech startups are playing a pivotal role in its construction. According to a recent report compiled by Strategy& Middle East, that investment will likely pay off to the tune of a cool $15 billion in annual revenue by 2030.

“The projections assessed growth in the component technologies, platforms, hardware, and software, as well as the economic contribution of new metaverse applications such as content creation, shopping, and so on,” says Tony G. Karam, partner at Strategy& Middle East.

Out of the seven Emirates, Dubai is emerging as the pre-eminent metaverse economy. Experts predict that the region’s digital strategy will bring a $4 billion boost to GDP, with 40,000 new jobs created in the process. The UAE as a whole has embraced Web3.0 enthusiastically and recently established the first metaverse incubator.

Meanwhile, in Saudi Arabia, NEOM — a $500 billion futuristic metropolis on the Red Sea — will also build a parallel digital version of its cityscape, enabling people to coexist in both the real world and the Metaverse simultaneously.

Also Read: The UAE Has Launched A Program To Assist 100 Startups

“The Metaverse holds a world of possibilities that extends beyond next-generation gaming and internet-based home buying or shopping. It will change how we work, transact, plan, design, build, shop, recreate, travel, and live. In a regional context, the Metaverse’s potential to energize and transform key sectors in the Gulf Cooperation Council (GCC) countries is enormous,” says Dany Karam, partner at Strategy& Middle East.

Breaking down Strategy&’s predicted annual raise in GDP reveals the following figures:

Saudi Arabia: $7.6 billion
UAE: $3.3 billion
Qatar: $1.6 billion
Kuwait: $ 1 billion
Oman: $0.8 billion
Bahrain: $0.4 billion

Although the Metaverse is still relatively unknown to the general public, experts believe that in the near future, a thriving digital tourism sector will emerge, with tours to famous UNESCO World Heritage Sites, concerts, festivals and sports events all having their own digital versions.

News

Yabi Introduces AI Financial Coach For Smarter Money Moves

The app provides real-time, personalized financial guidance, helping UAE residents manage money smarter, reduce debt, and build wealth effortlessly.

Published

4 hours ago

February 22, 2025

Nour Nasir

Yabi

Imagine having 24/7 access to an expert financial advisor — someone who understands your spending habits, helps you save more effectively, and offers guidance for every financial decision. That’s the vision behind Yabi’s revamped platform, an AI-driven finance app designed to transform personal finance management in the UAE.

Unlike traditional budgeting tools, Yabi acts as an always-available AI advisor, analyzing your unique spending patterns and offering real-time, tailored financial advice. Whether you’re making everyday purchases, planning a big trip, or saving for a major milestone, Yabi keeps you on track and helps you make informed financial choices.

Rakhil Fernando, CEO of Yabi, explains the mission behind the platform: “Financial literacy is not optional — it’s essential. But most financial tools today feel outdated and overly complex. Yabi is here to change that by offering AI-powered financial coaching that’s smart, simple, and accessible to everyone in the UAE”.

Here are some of the updated app’s new features:

AI-Powered Financial Coach: A 24/7 digital advisor providing real-time financial guidance based on your spending habits and available in multiple languages.
Live Insights: Connect your bank accounts for a detailed breakdown of your expenses.
Tailored Budgeting: Yabi creates a budget that fits with your actual spending habits rather than generic financial advice.
Interactive Financial Education: Learn the essentials of saving, investing, and credit management through engaging content integrated into the AI experience.
Automated Expense Tracking: Receive instant alerts on overspending, identify hidden charges, and cut unnecessary subscriptions with ease.
Credit Score & Financial Health Monitoring: Get free credit score checks and AI-driven recommendations to enhance your financial standing.

Also Read: A Guide To Digital Payment Methods In The Middle East

Finally, Yabi is also gearing up to introduce its own debit card and a suite of financial products, making it easier to save, spend, and invest within a single platform.

Want to try Yabi for yourself? You can download the app on the Apple App Store and Google Play Store.