There are many advantages that come with being a technological hub. When a city or place becomes one, it not only benefits from the cutting-edge technological innovation and progress that happens within it, but also the economic benefits that come with the advancement.
For example, when one has a solid technological framework, corporations are more likely to settle in their country or city, which in turn will bring employment opportunities and overall economic development, leading to enhancing both the government’s income in case of VAT and the quality of living for the citizens. In short, it is great to be the technological hub in a region.
Not surprisingly, there are many cities in the Middle East that aspire to be such a hub, exactly for the benefits listed above. This is backed by local governments, which see the benefits and launch initiatives in order to reach this goal through their economic agendas (e.g. Vision 2030).
Learn more about these initiatives, as well as which cities are vying to become the next technological centre, here.