Dubai Internet City added $27bln to emirate's economy, says report
Dubai Internet City has added AED100 billion ($27.2 billion) to Dubai's GDP over the past 15 years, according to an impact study conducted in partnership with Accenture and incorporating perspectives from a wide array of prominent information and communications technology (ICT) industry figures.
The Dubai Internet City – Impact Assessment study quantifies the digital economy contributions of the region's leading tech hub, one of Tecom Group's 10 sector-specific business districts, since its establishment in 1999.
The study comes as Dubai continues its upward trajectory as a global tech hub, contributing towards strategic initiatives such as Dubai Economic Agenda 'D33'. The district today generates 65% of Dubai's technology sector GDP.
"In line with Dubai's visionary roadmap to nurture the technology sector and enhance its role as a key economic contributor, Dubai Internet City has enabled both the regional digital economy and disruptive innovation for more than 25 years," said Ammar Al Malik, the Executive Vice President of Commercial at Tecom Group and Managing Director of Dubai Internet City.
"This impact study reflects Dubai Internet City's unwavering commitment to nurturing tech innovation that accelerates sustainable prosperity – for our economy and our people – through our globally attuned ecosystem for technology and artificial intelligence (AI) companies as well as global talent," stated Al Malik.
"We will continue to nurture such collaborations to build a future powered by shared ingenuity, in line with the vision of Dubai Economic Agenda 'D33'," he added.
DIC's community has facilitated the creation of more than 125,000 direct and indirect jobs, with AED1.6 billion of investments to support training and talent development over the years, according to the study.
Home to 4,000 customers, including multinational giants, Fortune 500s, and start-ups, and more than 31,000 professionals, the district marked its 25th anniversary in 2024.
Dubai Internet City is part of Tecom Group's portfolio of 10 sector-specific business districts, which also includes Dubai Media City, Dubai Studio City, Dubai Production City, Dubai Knowledge Park, Dubai International Academic City, Dubai Science Park, Dubai Industrial City, and Dubai Design District (d3).
The impact study notes the power of DIC's pro-innovation infrastructure as a uniting platform for professionals, including AI pioneers, from more than 150 countries, leveraging Dubai's position as a global gateway to international expansion.
In addition, the district offers unparalleled operational support to customers, including seamless access to more than 200 corporate and government smart services through Tecom Group's axs portal to enhance the ease of doing business for its community.
The success of Dubai Internet City's diversified talent development and knowledge-sharing platforms is demonstrated by growth across its community.
Women comprise more than 25% of Dubai Internet City's workforce, and since 2021, the number of women-run start-ups has doubled at in5 Tech, the sector-dedicated vertical of Tecom Group's in5 incubator based at the district.
Copyright 2024 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (Syndigate.info).
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