Opening up and sharing government data on the transport, storage and communications sectors could boost Dubai’s economy by up to 1.2 per cent annually within five years as policymakers access more accurate information to improve services, a study has found.
The Dubai Data Economic Impact Report highlighted that open and shared data from the government and private sectors has the potential to add Dh10.4 billion gross value added (GVA) to Dubai’s economy a year by 2021.
Sharing government data alone could add Dh6.6bn annually – equivalent to 0.8 per cent to 1.2 per cent of forecast GDP in 2021. Transport, storage and communications together would be the highest contributor to this potential GVA, accounting for 27.8 per cent or Dh1.85 bn.
Opening up data on public administration would contribute Dh1.57bn of GVA, while wholesale, retail, restaurants, and hotels would contribute Dh908 million, followed by property with Dh639m, according to the study carried out by KPMG.
Using digital technology, in line with the Smart Dubai initiative, will help quickly aggregate data to highlight trends or areas where efficiency can be improved which translates to major savings.
Aisha Bin Bishr, the director general of the Smart Dubai Office, which commissioned the report, said that this transition to a more digital and data-driven landscape was necessary to not just keep pace, but to move ahead. “This strategy stands to galvanise research and development as innovators around the city work to find new applications for the data, offer better integrated services and improve overall governance,” she said.
The Dubai data law, issued in 2015, will facilitate the integration of services pooling a variety of data to play an instrumental role in shaping legislation, strategy and policy.
Younus Al Nasser, chief executive of Dubai Data, said that it was working to exchange “all relevant data to integrate and harmonise the services provided by federal and local government agencies, and improve their decision-making process, enabling them to effectively process data, develop policies, and implement strategic initiatives”.
Follow The National's Business section on Twitter