Microsoft and its partners, along with customers leveraging cloud technologies, are set to generate US$74.4 billion in new revenues for the UAE economy over the next four years, according to an International Data Corporation (IDC) study released today at GITEX Global 2024.
The study, titled ‘Microsoft Cloud Dividend Snapshot’ for the United Arab Emirates, was sponsored by Microsoft and highlights the critical role that Microsoft’s cloud services, along with its partner ecosystem, are playing in advancing the UAE’s digital economy, fostering innovation, and creating jobs. The study also emphasized Microsoft’s commitment to growing local businesses and supporting the UAE’s ambitions to become a global technology hub. Over the next four years, Microsoft and its partner ecosystem will spend approximately $5.1 billion in the UAE’s datacenter regions for services and products in local economies. This investment will fuel the growth of enterprises, particularly those looking to harness the power of cloud and AI to stay competitive in today’s increasingly digital landscape.
Commenting on the report’s findings, Naim Yazbeck, General Manager of Microsoft UAE, said:
“As organizations across the UAE and the region seek to leverage the latest advancements in Artificial Intelligence, the cloud remains the foundation upon which these innovations are built. At Microsoft, we are committed to providing highly secure, trusted, enterprise-grade cloud services that are critical for organizations accelerating their AI transformation journey. Our investment in local datacenters, our partner ecosystem, and the broader digital economy reflects our ongoing dedication to empowering government institutions and businesses to innovate, drive economic growth, and create sustainable jobs for the future.”
The IDC Snapshot also revealed that Microsoft partners will see significant economic benefits, with projected revenue growth of $6.29 for every dollar generated by Microsoft through its UAE cloud locations in 2025. This figure is expected to increase to $7.99 by 2028.
In addition to economic growth, the Microsoft cloud will contribute to job creation, with an estimated 152,530 new jobs added to the UAE economy over the next four years. These jobs will be created both directly within Microsoft’s organization and indirectly through its partner ecosystem and cloud-using customers. The snapshot also revealed that the Microsoft ecosystem will be responsible for adding over 41,800 new skilled IT jobs into the UAE economy over the same period, further reinforcing the nation’s transformation from a consumer of technology to a true hub of innovation, where technology is created and exported all over the world.
Microsoft is exhibiting at GITEX Global 2024 along with 36 of its partners. The organization’s stand, located in Hall 7, features a Demo Arena where visitors can learn more about how AI can help contribute to the health, happiness, and wellbeing of their local communities. The stand also features an Xbox Gaming stage, a DJ Booth, Surface Zone, Tech Talk arena, F&B stand, dedicated networking area, and VIP meeting room.
