News

UAE Digital Technology Spending To Hit $20 Billion By 2026

The contribution of digital tech to the country’s GDP is likely to double within the next decade.

Published

2 years ago

March 28, 2023

uae digital technology spending to hit $20 billion by 2026

Digital technology spending in the United Arab Emirates (UAE) — encompassing IT, telecoms, artificial intelligence, blockchain, and robotics — is expected to reach $20 billion over the next three years, according to a recent report by the Boston Consulting Group.

Digital tech is projected to account for 25-30% of global GDP over the next decade. According to BCG, the UAE is expected to double the contribution made by digital to its overall economic output, rising from 9.7% to 19.4% in the next 10 years.

Advances in robotics, automation, and a “historic explosion of data and intelligence” offer significant opportunities for wealth disruption and creation, but may present a steep learning curve for governments.

“The digital economy is not an elective. It marks a profound departure from how economies have historically been organized and regulated. Tackling this brave new world head-on will prove essential to remaining competitive and relevant on the global scene,” says Faisal Hamady, managing director and partner at BCG.

Also Read: ChatGPT Is Accelerating The AI Revolution In The Middle East

Dubai, which seeks to bolster its position as a global digital capital, recently launched the ambitious and far-reaching Dubai Economic Agenda (D33) plan.

The increase in digital technology spending aims to reinvent the Emirate as one of the world’s strongest city economies over the next decade, via a bold program that will support 30 private companies to achieve $1 billion unicorn status.

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

18 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.