Dubai’s Metaverse Sector To Create 42,000 Jobs And Contribute $4 Billion To The Economy

by Deeplata Garde
Dubai’s Metaverse Sector To Create 42,000 Jobs And Contribute $4 Billion To The Economy

The Crown Prince of Dubai recently inaugurated the regional headquarters of Facebook operator Meta in Dubai. According to Sheikh Hamdan, the cooperation with Facebook’s parent firm highlights the Emirate’s prominence as a worldwide commercial centre. Sheikh Hamdan launched the Dubai Metaverse Strategy previously. The strategy aspires to raise the contribution of the metaverse sector to the Emirate’s economy to $4 billion by 2030.

The Metaverse Sector Will Create 42,000 Virtual Jobs

The city possesses the ability to attract and retain the world’s largest technological businesses. The Dubai Metaverse Strategy’s higher committee wants to use metaverse technology. It will aid the resident surgeons to improve their performance by 230%. Also, the engineers had to raise their output by 30%.

The Dubai Metaverse Strategy also aims to raise the metaverse’s contribution to one percent of the emirate’s GDP. The Deputy Ruler of Dubai has now ordered the creation of a task force. This was specifically done to maintain a count of the newest advances in the digital economy. This will encompass the technological and metaverse trends.

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Development Of Metaverse Strategy

The discussion between Sheikh Hamdan and the higher committee resulted in a conclusion. According to the plan, Dubai wants to gain from the metaverse. It allows for the creation of economic opportunities outside of its physical boundaries. The committee wants to use metaverse technology to help facilitate the virtualization of 42,000 positions. Dubai wants to be a major player in the virtual world, so it’s working on a regulatory and legislative framework.

It is also implementing projects and activities that will help it grow its internet presence. The committee is actively examining possibilities and problems. Along with that, it’s continuing to establish a legal framework that addresses the needs of all sectors in the future.

Furthermore, the committee is trying to qualify human capital so that it can excel in the virtual environment. Business revenues from the metaverse are likely to climb from $180 billion to $400 billion by 2025, according to current forecasts.

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