Six Trend Themes to Shape Digital Landscape in 2024

The Digital Cooperation Organization seeks to adopt the six significant trends in the digital economy. (Asharq Al-Awsat)
The Digital Cooperation Organization seeks to adopt the six significant trends in the digital economy. (Asharq Al-Awsat)
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Six Trend Themes to Shape Digital Landscape in 2024

The Digital Cooperation Organization seeks to adopt the six significant trends in the digital economy. (Asharq Al-Awsat)
The Digital Cooperation Organization seeks to adopt the six significant trends in the digital economy. (Asharq Al-Awsat)

An international report identified six trend themes that will influence the digital economy this year and act as pivotal factors shaping the evolution and transformation of the digital landscape, including artificial intelligence, trust economy, digital reality, cybersecurity, smart ecosystems, and the green economy.

Each trend theme is expected to have a transformative socio-economic impact in the coming decade, according to the Digital Cooperation Organization (DCO) report.

DCO Secretary-General Deemah AlYahya said: “The DCO Digital Economy Trends 2024 Report offers our unique viewpoint on the digital economy, formulating a 'how to’ guide for six of the most important digital economy trends.”

“The report covers implications and recommended actions for stakeholders across the global digital economy ecosystem, ensuring there is something valuable for everyone who aspires to contribute to the growth of an inclusive and sustainable digital economy.”

The report shows that AI, for example, is projected to become a $207 billion market by 2030 as both public and private sectors aim to optimize operations and boost efficiency.

According to the report, AI stands out as a potential game-changer for the digital economy.

Meanwhile, green tech is set to experience a similar boom, with its market size expected to climb to $83 billion by 2032, contributing significantly to the green economy's progress. The digital reality market furthermore is forecast to reach $1.35 billion by 2030.

Recommended actions are offered across each of the six themes for different stakeholders, in areas such as guiding the implementation of digital technologies, targeting global priorities, applying appropriate governance for the adoption of trends, and redefining business priorities, to contribute to the growth of the global digital economy.

Looking at AI, for example, the report recommends that the public sector creates controlled testing environments with flexible AI regulatory frameworks to foster innovation responsibly, collaborates with the private sector to prioritize investments in AI digital skills and infrastructure, and establishes transparency and accountability measures.

In turn, the private sector is advised to engage with regulators to keep AI regulatory frameworks aligned with innovation and business needs, embrace a culture of AI "coopetition" through joint research consortia and shared service platforms, and prioritize the implementation of AI cybersecurity, data privacy, and sustainability measures.

Intergovernmental and international organizations are meanwhile advised to foster global collaboration around AI governance, and encourage academics, industry leaders, and NGOs to join international forums to build partnerships and converge on unified standards for AI.

The Digital Cooperation Organization is the world's first standalone international intergovernmental organization focusing on the acceleration of the growth of an inclusive and sustainable digital economy.

It is a global multilateral organization founded in November 2020 that aims to enable digital prosperity for all.

The DCO brings together the Ministries of Communications and Information Technology of its Member States and is focused on empowering youth, women, and entrepreneurs, leveraging the accelerative power of the digital economy, and leapfrogging with innovation to drive economic growth and increase social prosperity.

The DCO brings together ministries of communications and information technology in 15 countries: the Kingdom of Bahrain, the People's Republic of Bangladesh, the Republic of Cyprus, the Republic of Djibouti, the Republic of The Gambia, the Republic of Ghana, the Hashemite Kingdom of Jordan, the State of Kuwait, the Kingdom of Morocco, the Federal Republic of Nigeria, the Sultanate of Oman, the Islamic Republic of Pakistan, the State of Qatar, the Republic of Rwanda, and the Kingdom of Saudi Arabia - collectively representing nearly $3.3 trillion in GDP and a market of nearly 800 million people, more than 70% of whom are under the age of 35.



Egypt Plans $1 Billion Red Sea Marina, Hotel Development

This picture shows a partial view of Egypt's Red Sea city of Sharm el-Sheikh, October 7, 2025. (AFP)
This picture shows a partial view of Egypt's Red Sea city of Sharm el-Sheikh, October 7, 2025. (AFP)
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Egypt Plans $1 Billion Red Sea Marina, Hotel Development

This picture shows a partial view of Egypt's Red Sea city of Sharm el-Sheikh, October 7, 2025. (AFP)
This picture shows a partial view of Egypt's Red Sea city of Sharm el-Sheikh, October 7, 2025. (AFP)

Egypt announced plans on Monday for a new $1 billion marina, hotel and housing development on the Red Sea in a bid to boost the region's tourist industry.

Construction on the "Monte Galala Towers and Marina" project would ‌start in ‌the second ‌half ⁠of the ‌year and run for seven years, Ahmed Shalaby, managing director of the main developer, Tatweer Misr, said.

The 10-tower development - a partnership with the ⁠housing ministry and other state bodies ‌including the armed ‍forces' engineering authority - ‍would cost about 50 ‍billion Egyptian pounds ($1.07 billion), he added.

The project, also announced by the cabinet, will cover 470,000 square meters on the Gulf of Suez, about ⁠35 km south of Ain Sokhna, Shalaby said.

Egypt aims to boost total tourist arrivals to around 30 million by 2030, from around 19 million recorded by the tourism ministry in 2025.


Saudi-Polish Investment Forum Explores Prospects for Economic and Investment Cooperation

The forum brought together government officials, business leaders, and investors from both countries with the aim of enhancing economic cooperation - SPA
The forum brought together government officials, business leaders, and investors from both countries with the aim of enhancing economic cooperation - SPA
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Saudi-Polish Investment Forum Explores Prospects for Economic and Investment Cooperation

The forum brought together government officials, business leaders, and investors from both countries with the aim of enhancing economic cooperation - SPA
The forum brought together government officials, business leaders, and investors from both countries with the aim of enhancing economic cooperation - SPA

The Saudi-Polish Investment Forum was held today at the headquarters of the Federation of Saudi Chambers in Riyadh, with the participation of Minister of Investment Khalid Al-Falih, Minister of Finance of the Republic of Poland Andrzej Domański, and Vice President of the Federation of Saudi Chambers Emad Al-Fakhri.

The forum brought together government officials, business leaders, and investors from both countries with the aim of enhancing economic cooperation, expanding investment partnerships in priority sectors, and exploring high-quality investment opportunities that support sustainable growth in Saudi Arabia and Poland.

During a dedicated session, the forum reviewed economic and investment prospects in both countries through presentations highlighting promising opportunities, investment enablers, and supportive legislative environments.

Several specialized roundtables addressed strategic themes, including the development of the digital economy, with a focus on information and communication technologies (ICT), financial technologies (fintech), and artificial intelligence-driven innovation, SPA reported.

Discussions also covered the development of agricultural value chains from production to market access through advanced technologies, food processing, and agricultural machinery. In addition, participants examined ways to enhance the construction sector by developing systems and materials, improving execution efficiency, and accelerating delivery timelines. Energy security issues and the role of industrial sectors in supporting economic transformation and sustainability were also discussed.

The forum witnessed the announcement of two major investment agreements. The first aims to establish a framework for joint cooperation in supporting investment, exchanging information and expertise, and organizing joint business events to strengthen institutional partnerships.

The second agreement focuses on supporting reciprocal investments through the development of financing and insurance tools and the stimulation of joint ventures to boost investment flows.

The forum concluded by emphasizing the importance of continued coordination and dialogue between the public and private sectors in both countries to deepen Saudi-Polish economic relations and advance shared interests.


Gold Rises as Dollar Slips, Focus Turns to US Jobs Data

FILE PHOTO: An employee places ingots of 99.99 percent pure gold in a workroom at the Novosibirsk precious metals refining and manufacturing plant in the Siberian city of Novosibirsk, Russia, September 15, 2023. REUTERS/Alexander Manzyuk/File Photo
FILE PHOTO: An employee places ingots of 99.99 percent pure gold in a workroom at the Novosibirsk precious metals refining and manufacturing plant in the Siberian city of Novosibirsk, Russia, September 15, 2023. REUTERS/Alexander Manzyuk/File Photo
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Gold Rises as Dollar Slips, Focus Turns to US Jobs Data

FILE PHOTO: An employee places ingots of 99.99 percent pure gold in a workroom at the Novosibirsk precious metals refining and manufacturing plant in the Siberian city of Novosibirsk, Russia, September 15, 2023. REUTERS/Alexander Manzyuk/File Photo
FILE PHOTO: An employee places ingots of 99.99 percent pure gold in a workroom at the Novosibirsk precious metals refining and manufacturing plant in the Siberian city of Novosibirsk, Russia, September 15, 2023. REUTERS/Alexander Manzyuk/File Photo

Gold prices rose on Monday, buoyed by a softer dollar as investors braced for a week packed with US economic data that could offer more clues on the US Federal Reserve's monetary policy.

Spot gold rose 1.2% to $5,018.56 per ounce by 9:30 a.m. ET (1430 GMT), extending a 4% rally from Friday.

US gold futures for April delivery also gained 1.3% to $5,042.20 per ounce.

The US dollar fell 0.8% to a more than one-week low, making greenback-priced bullion cheaper for overseas buyers.

"The big mover today (in gold prices) is the US dollar," said Bart Melek, global head of commodity strategy at TD Securities, adding that expectations are growing for weak economic data, particularly on the labor front, Reuters reported.

Investors are closely watching this week's release of US nonfarm payrolls, consumer prices and initial jobless claims for fresh signals on monetary policy, with markets already pricing in at least two rate cuts of 25 basis points in 2026.

US nonfarm payrolls are expected to have risen by 70,000 in January, according to a Reuters poll.

Lower interest rates tend to support gold by reducing the opportunity cost of holding the non-yielding asset.

Meanwhile, China's central bank extended its gold buying spree for a 15th month in January, data from the People's Bank of China showed on Saturday.

"The debasement trade continues, with ongoing geopolitical risks driving people into gold," Melek said, adding that China's purchases have had a psychological impact on the market.

Spot silver climbed 2.9% to $80.22 per ounce after a near 10% gain in the previous session. It hit an all-time high of $121.64 on January 29.

Spot platinum was down 0.2% at $2,092.95 per ounce, while palladium was steady at $1,707.25.

"A slowdown in EV sales hasn't really materialized despite all the policy softening, so I do see that platinum and palladium will possibly slow down," after a bullish run in 2025, WisdomTree commodities strategist Nitesh Shah said.