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Dubai stands out as a leading hub in attracting talent and innovation in three waves by combining short- and long-term leverage.
First, a new report by the Boston Consulting Group (BCG), which looked at 11 tech hubs titled “Transforming Tech Hubs into Talent Magnets,” says that over the years it has successfully attracted leading tech companies, its active businesses The tax incentive cap is zero. The world continues to thrive by attracting digital talent from abroad.
Smaller tech companies are closely followed by operations in the UAE. Additionally, it holds the UAE’s Golden Visa and provides a pathway to citizenship for international investors and top talent from around the world, offering them visas for up to 10 years – second only to the most recent work visa scheme , a program that enables employees from all over the world to work remotely in the UAE.
Considered the first of its kind in the region, the one-year visa offers entrepreneurs and talents the opportunity to innovate in the UAE’s safe and attractive business environment, with access to world-class utilities and telecommunications All necessary services included.
10 point action plan
Second, it has launched a number of initiatives to attract talent with the skills required by the government’s targeted industries, such as agricultural technology in the 10-point action plan of the Dubai Future District, a new space dedicated to future economic development as a And a AED1 billion ($270 million) fund to support new economy companies that can drive future growth in Dubai.
In the long run, the government encourages leading international universities to establish local campuses to attract top students, and encourages children of working staff to stay in the UAE for higher education.
Aspiring tech hubs must develop measures that can both quickly gain traction and sustain future growth and development, the report said. The UAE — whose 96 percent of its skilled workforce is made up of immigrants — embodies the benefits of a well-planned and integrated strategy to develop a technology hub that deploys both short- and long-term leverage.
Strategy and Policy Portfolio
In particular, BCG analyzed the mix of strategies and policies that Dubai has deployed to attract talent, build strong client relationships in the region since 2019, and already have a proven track record in delivering game-changing businesses to leading public and private organizations good record.
“Successful digital hubs require a lot of digital talent – an increasingly scarce commodity. The global shortage of skilled workers will reach 4.3 million by 2030. That was before the Covid-19 pandemic, which increased demand for digital services Dubai has recognized this appeal early in the game, attracting technologists from all four corners of the world,” said Faisal Hamady, Managing Director and Partner at BCG.
“A major catalyst for attracting talent is the ongoing visa service in Dubai, a first for the region and further cementing the hub’s status as a centre of excellence. These include business visas, where foreigners can obtain long-term visas as part of the Golden Visa system The visa, which also includes the Remote Work Visa and its designated virtual work scheme, is for start-ups and entrepreneurs looking to work outside the UAE.”
policy tool
Juergen Eckel, managing director, partner and regional head of BCG Digital Ventures, said: “The report highlights that a hallmark of successful centres is a range of policy tools. To win the digital talent challenge, policymakers need to have a clear understanding of their centre’s Current strengths, key industrial sectors they intend to grow, and the type of workforce they need. And Dubai does just that. Attracting digital talent requires a deep understanding of what drives skilled technologists to move to new locations. Armed with this knowledge, policy development Players can continue to collaborate with stakeholders in the local digital ecosystem to develop and execute strategies to build and nurture vibrant, resilient technology hubs that will stimulate innovation and economic growth for decades to come.”
Part of the mature BCG network that has been operating in the Middle East for 15 years, BCG Digital Ventures, part of BCG X’s technology build and design business unit, recently opened in the region, introducing a new enterprise venture talent center and strengthening its commitment to Gulf Cooperation Commitment to the Committee.
“In addition to combining short- and long-term levers, we have identified three other key lessons that other cities and countries can learn from our research’s leading technology hubs. These include developing and executing strategic plans, leveraging existing strengths, and leveraging anchors Rami Mourtada, Partner and Director at BCG, added that with the right mix of policies, leveraging existing strengths and enhancing their attractiveness to digital talent and leading tech companies, cities and countries can nurture dynamic Technology center, become a dynamic international business center.
Office Space
In response to persistent inflationary pressures, the UAE is now offering select startups two years of free rented office space, providing employees with health insurance, while making it easier for newcomers to obtain work visas.
Among other initiatives, it established incubators such as Dubai District 2071 and recruited venture capital firms from around the world to set up local offices, demonstrating Dubai’s commitment to becoming a sustainable global center of excellence. arab trade news agency
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