Dubai Internet City fuels AED 100B boost in Dubai’s economy, study reveals

Photo:  Dubai Government Media Office

Dubai Internet City has played a major role in boosting Dubai’s economy, adding AED 100 billion to the city’s GDP over the last 15 years. This was revealed in a recent impact study conducted with Accenture. The study gathered insights from top figures in the information and communications technology (ICT) industry, shedding light on Dubai Internet City’s contributions to the digital economy.

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The report called the Dubai Internet City – Impact Assessment, measures the growth and influence of this leading tech hub, which is one of ten specialized business districts under TECOM Group PJSC. Dubai Internet City was established in 1999, and over the years, it has become a major player in the global tech scene. Today, it is responsible for generating 65% of Dubai’s total technology sector GDP. This aligns with Dubai’s goal of becoming a global technology hub, as outlined in the Dubai Economic Agenda ‘D33’.

Ammar Al Malik, Executive Vice President of Commercial at TECOM Group and Managing Director of Dubai Internet City, highlighted the district’s impact. He stated that Dubai Internet City has supported the regional digital economy and encouraged groundbreaking innovations for over 25 years. He added that the district will continue to provide a thriving environment for technology and artificial intelligence (AI) companies, as well as global talent, helping drive sustainable economic growth.

The study also showed that Dubai Internet City has created more than 125,000 direct and indirect jobs. In addition, it has invested AED 1.6 billion in training and talent development to enhance workforce skills. Today, the district is home to 4,000 businesses, including top multinational companies, Fortune 500 firms, and start-ups, employing more than 31,000 professionals. Dubai Internet City celebrated its 25th anniversary in 2024.

Dubai Internet City was first announced on 29 October 1999 by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai. It was created to strengthen Dubai’s knowledge economy. According to the impact study, Dubai Internet City has developed a strong infrastructure that supports innovation and serves as a key platform for professionals, including AI experts, from over 150 countries. It also provides seamless business support through TECOM Group’s Axs portal, allowing access to more than 200 corporate and government smart services.

The district’s commitment to diversity and talent development is evident in its growing community. Women now make up more than 25% of its workforce, and since 2021, the number of women-led start-ups at in5 Tech, TECOM Group’s tech incubator, has doubled. Start-ups and entrepreneurs based in Dubai Internet City have secured AED 8 billion in funding, with some of the most successful companies, like Careem and Souq, emerging from this community.

Over the past 25 years, Dubai Internet City has supported the digital economy by bringing together global industry leaders. Since 2021, the district has hosted over 800 events to encourage knowledge sharing and skill development. Its business community includes major global companies like Oracle, SAP, Dell, Amazon, Google, Tencent, Huawei, Mastercard, and Visa. Additionally, renowned companies such as 3M, IBM, Ericsson, and Cisco operate 19 research and innovation centers within Dubai Internet City to drive advancements in technology.

Dubai Internet City is part of TECOM Group’s network of ten specialized business districts. This network 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). Together, these districts contribute to Dubai’s vision of becoming a global leader in business, technology, and innovation.