UAE’s economic success to be measured using ‘Gross Metaverse Product’ instead of GDP': Top official

The announcement was made on Wednesday in the presence of the Crown Prince of Dubai

by

Nandini Sircar

/ Dhanusha Gokulan

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Published: Wed 28 Sep 2022, 12:51 PM

Last updated: Wed 28 Sep 2022, 1:47 PM

The country’s economic success will now be measured using Gross Metaverse Product (GMP) instead of Gross Domestic Product (GDP), a top UAE minister announced on Wednesday.

In the presence of Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Omar bin Sultan Al Olama, Minister of State for Artificial Intelligence, revealed the Emirate’s Metaverse Strategy at the Dubai Metaverse Assembly.


During a talk titled ‘Unlocking Dubai’s Potential: The Metaverse Strategy’, Al Olama said the economic sectors in which the metaverse strategy would be deployed are – tourism, education, government services, retail and real estate.

Al Olama said, “We are also going to launch a task force to see the opportunities for exporting our culture to the rest of world using the metaverse.”


This is a developing story; more details to come soon.



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