Dubai Cashless Strategy Boosts Economy with Dh8 Billion Contribution Ahead of Schedule

The Dubai Cashless Strategy has delivered an economic boost of over Dh8 billion ($2.18 billion), successfully surpassing its core objectives well ahead of the initial two-year schedule. According to an official statement released on Friday by the Dubai Media Office, which cited data from Dubai Finance, the emirate's cashless transactions index reached 90.1 per cent, outperforming the 90 per cent target originally established for 2026.

This Dh8 billion milestone matches the exact target set when the initiative was officially launched in October 2024. Furthermore, the digital enablement index for the government sector climbed to a perfect 100, demonstrating widespread access to digital payment methods across various institutions and businesses. The initiative also triumphed across its three core pillars, recording 97 per cent in governance, 95 per cent in society, and 93 per cent in innovation.

The report emphasized that operational business continuity was maintained to safeguard these milestones and maximize their long-term impact. Additionally, the community happiness index climbed to 90.1 per cent, also exceeding its 90 per cent goal. Citing Sheikh Hamdan bin Mohammed, Crown Prince of Dubai, Deputy Prime Minister and Minister of Defence, the Dubai Media Office noted that the strategy highlights the effectiveness of Dubai’s model, which combines a clear vision, cooperation between government and private sectors, and expanding technological innovation.

First unveiled in October 2024, the Dubai Cashless Strategy supports the emirate's ambition to become a premier global digital city by facilitating secure and seamless digital payments across both private and public sectors, aligning directly with the Dubai Economic Agenda, also known as D33.

In separate statements released on Friday, key leaders underscored the significance of the achievement. Hamad Al Mansoori, director general of Digital Dubai—the entity that spearheaded the strategy—stated that the transition to a cashless society serves a broader vision for an interconnected digital city that streamlines experiences for individuals and businesses. Helal Almarri, director general of the Dubai Department of Economy and Tourism, added that enhanced payment flexibility enriches visitor experiences and reinforces Dubai’s status as a globally connected hub.