Dubai Can Become the Next Silicon Valley, Says Renowned Futurist
- Publish date: Thursday، 15 June 2023
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Cheap land, low taxation, and flexibility in starting a business are all characteristics of Dubai, the futuristic Silicon Valley of the 21st century, said a world-renowned futurologist.
Dr Michio Kaku, a world expert renowned futurologist and science writer, who was raised in Silicon Valley, highlighted that there are lots of common things between Dubai and Silicon Valley which is home to many of the world’s biggest technology companies.
“When I come from Dubai, I'm very much reminded of my childhood. I grew up in Silicon Valley. When I look at the ingredients that made Silicon Valley possible, they’re cheap land, low taxation, lots of graduate students, easy to start a company, easy to fail, but easy to succeed as well. That's the way when you want to innovate when you want to be creative,” Dr Kaku said
According to Knight Frank data, property prices in Dubai record the cheapest in the world compared to cities in London, Hong Kong, New York, Paris, etc. Dubai has one of the lowest tax rates and costs to start a business likewise. Additionally, the new visa regimes have made the emirate even attract more entrepreneurs to invest in it.
“Dubai can be even greater Silicon Valley of the 21st century because it also has a financial sector, large entertainment and recreation sectors; it’s more than just a place to build computers,” added Dr Kaku.