Dubai Culture Launches ?Creative Dubai - Navigating Tomorrow?s Creative Landscape? Report

Business Wire India

Dubai Culture and Arts Authority (Dubai Culture) has launched the ‘Creative Dubai: Navigating Tomorrow’s Creative Landscape’ report developed in collaboration with DinarStandard, a privately owned growth strategy research and advisory firm empowering organisations for responsible global impact. The report highlights Dubai’s achievements in the cultural and creative industries, the key factors contributing to the city’s cultural vision, and significant data tracking the sector’s transformation.

 

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The report provides a comprehensive overview of the creative sector, which serves as a significant global economic force, representing 6.1% of the global economy with a total value of US$4.3 trillion. The report also shows that the UAE has the largest creative sector in the MENA region in 2021, with a size of US$13.7 billion.

 

According to the Dubai Framework for Cultural Statistics, Dubai’s cultural and creative industries generated AED 21.96 billion in added value in 2022, contributing 4.6% to the emirate’s GDP. The report indicates that 47,544 companies operate in Dubai’s creative sectors, providing jobs for 175,727 employees, reflecting the size and impact of Dubai’s creative economy. In addition, Dubai successfully attracted 898 foreign direct investment (FDI) projects in the cultural and creative industries in 2023, increasing total capital inflows for FDI projects to AED 11.8 billion. Additionally, the report reveals that Dubai is home to more than 40% of start-ups that have secured over USD 1 million in funding in the MENA region, with 306 start-ups based in the emirate.

 

The report highlights how Dubai’s robust infrastructure, business enabling and cultural environment have significantly contributed to its global leadership. It also provides a comprehensive set of recommendations to foster the growth of Dubai’s creative sector, including key opportunity hotspots for investors, showcasing the most dynamic and rapidly expanding cultural and creative domains. A strong emphasis is placed on the need for affordable technological solutions tailored to SMEs, adopting a hybrid business model that seamlessly integrates physical and digital operations, and the importance of developing integrated curricula that connect the creative industry with educational institutions, ensuring a sustainable talent pipeline and industry growth.

 

To view the full report, visit https://www.dubaiculture.gov.ae/.

 

*Source: AETOSWire

 

 

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