Leading Global Business with New Technology
How is the GCC reimagining and re-establishing itself as a dynamic and advanced leader in new industries? With incredible gains in the market over the past decade, the GCC is proving itself as a forward thinking leader in business and development while it moves forward into the future. A focus on entrepreneurship and technology propelled by smart investments and capital creates fertile ground for business opportunities. This dynamic and changing landscape establishes the GCC as a global leader.
Advancements in Technology
With a good portion of the global community immersed in the digital age, the GCC is also finding themselves in a digital transformation across the region. There are a number of reasons for this push to incorporate greater digital technology. One of these is that the new generation of tech-savvy Gen Z-ers are entering the workforce and there is a growing population of the ultra-wealthy who seek certain products and services.
This evolution requires developments in infrastructure that allow a healthy ecosystem of technology to thrive. Therefore, the tech landscape in the GCC is quickly growing and evolving. Although traditionally, the GCC has thrived on profits and industry from the oil and gas sector, new efforts and focus have been paid to diversification, especially digital technology.
Economic Diversification and Technology
The economic diversification from oil and gas to digital technologies has led to progress in technological advancement across the GCC. This activity has spurred on impressive growth within this sector and tech companies have been developed to fill the need and provide services and solutions such as telecommunication services, data analytics, artifical intelligence, cloud computing, IoT, and more.
With the wealth from oil and gas industries, improved infrastructure, and more liberal laws that meet the needs of a changing global economy, there has been an increased focus on entrepreneurship and startups. Wealthy investors and entrepreneurs from around the world are flocking to the region for new opportunities, making the GCC a hub for innovation and technology.
Entrepreneurship and Investors
With the presence of wealthy investors interested in funding new ideas and promising startup ventures, this area is quickly becoming an ideal environment for entrepreneurs. Every country has an accelerator program and even female founders have established successful startups in the past few years. The promotion of entrepreneurship is a very strong signal of what is to come.
All of this points to a rapid growth in the pace of technological advancement in the region as an increasing number of businesses make strategic investments in this shifting landscape. Digital disruption is creating exciting opportunities for companies to rethink the impact of technology in the GCC. One of the ways that technology is disrupting the current ecosystem of the GCC and challenging the traditional models of business is made most evident within gambling.
The Case for Gambling
The surge in technological developments in the GCC has been reliant on infrastructure to support digital capabilities. This includes telecom operators and service providers, which is lucky for them and their bottom line, because there are massive profits in this rapidly growing market. Another of the extremely profitable sectors that is showing impressive revenue is the gaming industry.
The global market for gaming is in a time of rapid growth and currently worth hundreds of billions worldwide. In the GCC region alone, it is expected to be over a US$ billion in just a year or two. More than half of the population in the GCC is under 25 years of age, creating the perfect opportunity for a gaming market to thrive.
Opportunities for Gambling Technology
The benefits of a market for gambling within the GCC are not limited to profits for telecom operators. The advantages are more far-reaching than that. While gaming would increase the usage of data, bringing in increased revenue for telecom providers, it would also support the need for various technologies and services.
Some of the most popular gambling options are eSports and sports betting. The market for these events and activities is shown by the numbers and as online gambling continues to grow around the world, this is true for the GCC as well. For those interested in sports betting and other online gambling resources, MySer Gambling offers news, recommendations, and other content tailored for readers in the GCC.
Looking to the Future
A global leader in business and development, the GCC has the optimal combination of capital, markets, infrastructure, and technology experts that makes this a thriving hot spot. A region that has long prospered from the well-established oil and gas market, these countries are making their next strategic move with digital technologies. A wise move, as the focus and investments in the digital market continue to propel this region forward as a global business leader.