The knowledge economy is the key to the future; we must invest in minds and creativity if we want to stay at the forefront.” This quote by His Highness Sheikh Mohammed bin Rashid Al Maktoum encapsulates some of the key aspects of the knowledge economy in our region, particularly Dubai’s contribution to shaping this economic model. The knowledge economy is an economic system that relies on the production, distribution, and use of knowledge and information as primary drivers of economic growth and development.
Dubai is a leading example of developing modern infrastructure that supports the knowledge economy. One of the most prominent examples of this transformation in the Middle East is the establishment of “Dubai Internet City” in 1999, initially known as Dubai Internet and E-commerce City. This ambitious project was a crucial step in positioning Dubai as a global hub for technology and innovation.
As progress continues, e-commerce has been expanding rapidly across the region. In Saudi Arabia, for instance, the e-commerce sector reached a market value of approximately $13.61 billion in 2024, reflecting the enormous growth in this field. In the UAE, the digital market recorded a total value of $24.8 billion in 2023, with expectations of an annual compound growth rate of 9.8% until 2028.
Today, the impact of Dubai’s knowledge economy extends beyond infrastructure to include policies and legislation that attract global investments. Dubai has launched numerous initiatives to foster innovation, creativity, and entrepreneurship, such as the “Dubai Future Foundation” initiatives, which accelerate digital transformation across all economic sectors. There is no doubt that today’s economy is driven by the knowledge economy, emphasizing economic diversification beyond oil dependence.
A city’s dream becomes a reality, and its impact gradually extends across the region, serving as an inspiration to others. Dubai is not just a city of skyscrapers, groundbreaking projects, or a thriving business scene; it is also a city that nurtures and supports creative minds, establishing itself as a hub for innovation and knowledge—recognized for embracing ambition and action.
Through the adoption of the knowledge economy, numerous scientific initiatives have emerged in Dubai. The “Arab Genius” initiative, for example, serves as a prominent platform for scientists, thinkers, and innovators in science, technology, arts, and innovation. This tangible model highlights Dubai’s continuous efforts to support fresh, innovative ideas, aiming to build an advanced knowledge society that contributes to the realization of the knowledge economy in the region.
This is what can be said for now—the future neither waits nor should be waited for. Only the visionary and the dreamer take action and achieve. This, in essence, is the spirit of the knowledge economy as reflected in real-world experience. It is a continuous journey toward excellence, where minds and efforts come together to shape a new reality driven by creativity. Dubai is no longer just a city; it has become a symbol of ambition and the ability to transform ideas into reality, building a future rich with opportunities for those who seek progress and development