Is Dubai set to be the next big technology hub?

13/06/2013 - Dubai Investment News Posted by Bob Brunskill
Is Dubai set to be the next big technology hub?

Most people immediately think of the US or Japan when the subject of technology is raised, but Dubai is also building itself a strong reputation in this area.Indeed, Dubai Internet City has already attracted some of the leading companies on the planet - not least Google - and this is a trend that is likely to develop over time.Speaking to Al Arabiya, Omar Christidis, chief executive of ArabNet - a forum for technology start-ups - said the emirate is a "growing hub for digital business".His comments were made during the ArabNet Digital Summit, which poignantly has been switched from its usual location of Beirut to Dubai, further emphasising just how powerful the city has become in the technology sector.Mr Christidis said the interest in digital corporations has "exploded" since 2010 and this is reflected in the growing number of people attending the summit every year."We're seeing global companies establish their Middle East - and often their Middle East and Africa - headquarters in Dubai, sometimes even managing Turkey and India based out of Dubai," he was quoted as saying."This year we decided to shift the Digital Summit, our biggest international event, from Beirut to Dubai, as Dubai is the hub for digital business in the Arab world."Earlier this month, a study conducted by the Economic Intelligence Unit on behalf of Citi bank concluded that Dubai is an excellent place to do business, describing the city as an "all-round performer".Aside from the plethora of technology organisations that have moved to the sheikhdom, plenty of enterprises in other fields have been keen to set up a new base in this part of the Gulf. This is partly attributed to the favourable tax laws in the UAE.The Hot Spots 2025: Benchmarking the Future Competitiveness of Cities report showed Dubai is the leading business destination in the Middle East and is set to be the 23rd strongest market in the world over the coming years.