Global technology spending is set to reach US$5.6 trillion in 2026, and with AI projected to add US$22.3 trillion to the world economy by 2030, the race to attract the businesses driving that growth is well under way.
Dubai has been attracting people who are looking for a base for business expansion. From startups and investors to global tech companies and crypto platforms, more and more entrepreneurs are choosing the city as a starting point to expand their businesses.
Technology has been a focus of Dubai’s economic policy, supported by free zones accommodating innovative companies, sector-specific regulation and a government fast to respond to new industry trends. All these factors have combined to create an environment which supports multi-sector entrepreneurship.
An expanding regulatory body
For the cryptocurrency businesses, the regulatory framework is an important consideration when choosing where to operate. Dubai has a dedicated crypto regulator, the Virtual Assets Regulatory Authority (VARA). In 2026, the authority issued 20 virtual asset service provider licences, bringing the total to 60 – a significant milestone for a regulatory authority established only four years earlier. Another 23 firms are still seeking approval, reflecting the growing interest in Dubai’s crypto sector.
Like other initiatives in Dubai, VARA offers international investors certainty, reinforcing the emirate’s reputation as a global business hub. Even during more challenging periods as the region has gone through this year, Dubai’s institutions continue operating.
Bybit, which has maintained its headquarters in Dubai since 2022, received a full exchange-services licence in October. This allows its local entity, Bybit Fintech FZE, to offer fully regulated exchange services to customers, including spot trading.
A diversified economy
Dubai authorities have made a conscious effort to include technology adoption as a part of their economic diversification strategy. Digital technologies are part of everyday life and are deeply embedded, from finance and healthcare to trade, logistics and public services.
The global fintech market is projected to reach US$1.5 trillion by 2030, as digital technologies become increasingly integrated into financial services. Dubai’s financial and insurance sector is already reflecting that shift. The Dubai Data and Statistics Establishment reported that even though real GDP fell 2.3% year-on-year in the first half of 2026, financial and insurance activities grew more than eight percent over the period. Their contribution to GDP reached 14%, compared with 12.5% in the same period of the previous year.
That is what diversification looks like in practice. Dubai’s largest sector remains wholesale and retail trade at about 20.5% of GDP, but it is increasingly joined by finance, technology and healthcare.
Alongside this sectoral mix, Dubai is developing the institutions and partnerships intended to support further growth. The UAE has a national strategy for AI 2031 focused on generating US$91 billion in extra economic growth, while Dubai International Financial Centre (DIFC) introduced a plan in April to become the world’s first fully ‘AI-native’ financial centre. Benefits stemming from these initiatives are not just limited to tech firms. Banks and corporations get direct access to startups developing solutions to their needs, with DIFC announcing a partnership with Mizuho Financial Group to give up to 6,000 Japanese startups and opening up access to Dubai’s ecosystem.
Analysts have provided much commentary on what this means for the new generation of entrepreneurs. Henri Al Helaly, an entrepreneur who has spent almost two decades building businesses in Dubai has noted that Dubai’s economic roots ‘run deep’, spanning multiple sectors. For him, the city’s refusal to stand still has helped it continue to attract sizeable international talent.
What this means for UK-based entrepreneurs
For British readers, Dubai is both a competitor and a counterpart. UK-based tech talent can look to Dubai as a natural market for further growth, as well as a key Middle Eastern base. Emerging sectors like AI and crypto, also benefit from the Dubai government’s supportive approach.
Dubai’s geographical location also gives it a particular advantage. It sits between European and Asian time zones and connects capital, trade and talent across continents. For UK firms looking East or South, a well-regulated Gulf hub is an opportunity for both regional and global expansion. Dubai can offer a starting point for small businesses and startups, as well as a base for established corporations.
The outlook
Dubai’s attraction does not rely on a single licence, sector or announcement. It is grounded in the connections between regulation, infrastructure and business opportunity. Its growing digital asset sector is one part of a wider effort to diversify its economy and attract companies looking for a base from which to expand.