Dubai With Metaverse Strategy Creates 40,000 New Jobs

Dubai, one of the seven emirates of the United Arab Emirates, launched a Metaverse Strategy to advance its ambition to create 40,000 virtual jobs by 2030.

Dubai With Metaverse Strategy Creates 40,000 New Jobs 3

On Monday, the Emirates News Agency reported o the launch of the Dubai Metaverse Strategy by Vice President, Prime Minister, and Ruler of Dubai H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum.

One of the leading crypto hubs in the Middle East launched the Metaverse Strategy to realize its ambition to become a global metaverse economy and create 40,000 more virtual jobs by 2030.

After reviewing key technology trends, the government has announced the creation of a task force dedicated to tracking and leveraging the potential of the metaverse.

The directive to establish the task force was given by Sheikh Hamdan Bin Mohammed Bin Rashid Al Maktoum, Crown Prince of Dubai, and H.H. Sheikh Maktoum Bin Mohammed Bin Rashid Al Maktoum present at a Council meeting.

Al Maktoum hopes to transform the emirate into a global tech capital, with a major focus on artificial intelligence (AI) and Web3.

“Dubai Metaverse Strategy” is a five-year plan that aims to increase the metaverse contribution to Dubai’s annual GDP by 1% and metaverse economic growth to $4 billion by 2030. More importantly, Dubai aims to become one of the ten largest aggregate economies in the world.

H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum

According to the statement, VR and AR have created 6,700 jobs and contributed $500 million to the UAE’s economy. Globally, the value of venture capital and metaverse funding has reached $13 billion by 2021, while virtual real estate sales in the metaverse have surpassed $500 million.

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Harold

CoinCu News

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.