Dubai is planning to create 40,000 jobs to support Metaverse development

The emirate is looking to establish itself as a leading global metaverse economy.
July 20, 2022 - Tom Peters

Already one of the major crypto hubs in the Middle East, the emirate of Dubai has now set its sights on becoming a global Metaverse leader and a frontrunner in adopting digital solutions before 2030.


On Monday, the Dubai government unveiled its Dubai Metaverse Strategy, proposed by Vice President, Prime Minister, and Ruler of Dubai, H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum.


Crown Prince Sheikh Hamdan bin Mohammed aims to transform the emirate into a global tech capital, relying on Artificial Intelligence (AI) and Web3 technologies. 


As he explained on Twitter, the strategy’s objectives involve increasing the number of blockchain and metaverse companies to five times its current count (over 1000), creating 40,000 jobs to support Metaverse development in Dubai, and adding US$ 4 billion to Dubai’s GDP - all within five years.


To realise its vision, the Dubai government has promised to foster metaverse talent through education and training targeted at developers, content creators, and users of digital platforms in the metaverse community. Research and development is also a major focus according to the Metaverse Strategy, as well as attracting foreign firms to the state using accelerators and incubators.  


Dubai’s industry leaders are already exploring the metaverse for business opportunities. For instance, Emirates airline has already revealed intentions to expand its use of the metaverse. Business conglomerate Damac Group plans to build virtual cities, while healthcare firm Thumbay hopes to unveil a hospital in the metaverse for virtual consultations over the next few months.


Dubai’s metaverse goals seem realistic enough as the emirate is already an attractive hotspot for cryptocurrency companies. Crypto industry giants like Binance and FTX have already been permitted to operate in the city.


Photo: Freepik


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