A master plan aimed at increasing the number of blockchain and metaverse companies in Dubai from the current 1000 to 5000 in five years was recently launched by the Kingdom’s Crown Prince Sheikh Hamdan The plan, known as the Dubai Metaverse Strategy Known as the Dubai Metaverse Strategy, the plan also aims to create 40,000 jobs and generate $4 billion for the Dubai economy.
Metaverse’s contribution to Dubai’s economy
Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Dubai Executive Council, has launched an ambitious plan to attract 5,000 blockchain and metaverse companies to the Kingdom by 2027. Dubbed the Dubai Metaverse Strategy, the plan envisions achieving the strategy’s goals within the next five years.
Arabic tweetinAs the number of companies in the sector grows, Sheikh Hamdan suggested, its contribution to Dubai’s economy will also increase. The Crown Prince explained that.
Today we have launched the Dubai Metaverse strategy, which is a strategy that will help to create a new Dubai Metaverse, a new way of life for Dubai. This is the next revolution in the technological and economic sector that will affect all aspects of life over the next 20 years. Today, Dubai has 1,000 companies working in this sector, contributing $500 million to the national economy. We expect this sector to grow significantly in the future.
Meanwhile, Laraontheblock’sreportclaims that the increase in blockchain and metaverse companies to 5,000 will “add 40,000 new jobs in the virtual world and bring US$4 billion to Dubai’s economy in the next five years” Sheikh Hamdan is quoted as saying.
The strategy will not only increase employment and contribute to Dubai’s economic growth, but also promote innovation and government use of metaverse technologies. By moving forward with the Metaverse strategy ahead of other countries, Dubai aims to become “one of the top 10 countries in the world in this field.”
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