The growth rate of digital companies in Dubai is double that of traditional companies, according to Vice Chairman of the Dubai Chamber of Digital Economy, Ahmad Bin Byat.
"The growth rate of the number of digital companies in Dubai is about 30 per cent, while the growth rate of new companies operating in various sectors ranges between 13 and 15 per cent," he said.
He pointed out that there at least 120,000 digital companies in Dubai, with a significant increase in the number of existing companies working on digital transformation.
The growth in the number of digital companies is reportedly the result of three drivers: attracting global companies, local startups, and the transformation of many existing traditional companies to digital.
Bin Bayat explained that the Chamber was established as a result of the rapid growth of the digital companies sector, a sector that requires special and different treatment from traditional sectors.
He added “Digital companies do not only focus on local markets but also on global markets, which requires more specialization to deal with this type of institutions.”
Bin Bayat touched on the successes achieved by the Dubai Chamber of Digital Economy, citing the experiences of companies that started as startups and became major institutions and companies
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