As part of the ongoing digital economic expansion policies of Dubai, the crown prince of Dubai Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum approved the next stage of the Dubai Metaverse expansion. Sheikh Hamdan has expressed his desire to make emirates one of the leading faces in the digital economy revolution by incorporating innovative strategies like Metaverse, which is shaping up to be the future of virtual tech.
Hamdan had lit the green signal for creating a new road map for the expansion of Metaverse services to the digital platforms of government services and also a detailed study regarding the advantages of using Metaverse in the social service sector.
The Strategy Aims To Create 40,000 Virtual Jobs
The new phase of expansion will also look at fostering a modern-age Metaverse community consisting of Emiratis. This community would look at new opportunities and innovations in business initiatives like startups and other Metaverse-based companies. The Higher Committee of Future Technology Development and Digital Economy conducted its first meeting and the approval of the next phase in Dubai Metaverse expansion was made in this meeting.
The Metaverse expansion was started in July by Hamdan and it aimed at making Dubai the next big thing in the Metaverse by promoting business and innovative strategies. The aim was to build a virtual network in the digital economy of Dubai that would sustain and support future digital opportunities. The Dubai Metaverse would also aim to be a Global Metaverse community that hopes to create at least forty thousand new virtual jobs by the year 2030.
A Dubai Metaverse Assembly was held on the 28 and 29 September this year which was attended by policymakers, global experts, and digital experts from around the world. The assembly had organized important discussions and workshops that were centered around the future of using Metaverse in important economic sectors.
The assembly aimed at putting Dubai in the center stage of digital innovations through the application of Metaverse and also providing digital infrastructure to international and localized business initiatives.
The Dubai Metaverse Strategy mainly focuses on four sectors; the government sector, education, tourism, retail, and real estate sector. As part of the expansion strategies, a tourism task force is planned to be launched by the Dubai Metaverse so that more tourism-based activities can be promoted in the Metaverse.
A lot of international companies from different countries have already set up their blockchain and metaverse infrastructures. As of today, Dubai Metaverse is one of the largest virtual hubs that foster digital economy-based business solutions. It is also experimenting with finance and banking-based solutions as banks like Commercial Bank International (CBI), a UAE-based bank has already started their virtual branch in Dubai Metaverse.
The service sector industry is one the main benefactor of this virtual system as it makes it easier for consumers, especially the ones in the internet-literate economies to access services and solutions through a virtual platform.
The employment opportunities that will be opening up as part of the initiative is another plus as these would be future-proof jobs that require a specific skill set other than the basic qualifications necessary for jobs in the real world. Metaverse-based tourism looks at a new age of virtual tourism that would open up a borderless and intimate form of experience.
This would enable digital tourists to be part takers of an innovative system that boosts creative and economic opportunities. The real estate sector has also been another major point of innovation as the metaverse future would create virtual real estate deals and investments opening up a completely new domain of the digital economy.