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DUBAI, United Arab Emirates — Dubai Tradition and Arts Authority (Dubai Tradition) has launched the ‘Inventive Dubai: Navigating Tomorrow’s Inventive Panorama’ report developed in collaboration with DinarStandard, a privately owned development technique analysis and advisory agency empowering organisations for accountable international influence. The report highlights Dubai’s achievements within the cultural and artistic industries, the important thing elements contributing to town’s cultural imaginative and prescient, and important knowledge monitoring the sector’s transformation.
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The report supplies a complete overview of the artistic sector, which serves as a major international financial pressure, representing 6.1% of the worldwide economic system with a complete worth of US$4.3 trillion. The report additionally reveals that the UAE has the most important artistic sector within the MENA area in 2021, with a dimension of US$13.7 billion.
Based on the Dubai Framework for Cultural Statistics, Dubai’s cultural and artistic industries generated AED 21.96 billion in added worth in 2022, contributing 4.6% to the emirate’s GDP. The report signifies that 47,544 corporations function in Dubai’s artistic sectors, offering jobs for 175,727 staff, reflecting the scale and influence of Dubai’s artistic economic system. As well as, Dubai efficiently attracted 898 overseas direct funding (FDI) tasks within the cultural and artistic industries in 2023, rising complete capital inflows for FDI tasks to AED 11.8 billion. Moreover, the report reveals that Dubai is dwelling to greater than 40% of start-ups which have secured over USD 1 million in funding within the MENA area, with 306 start-ups primarily based within the emirate.
The report highlights how Dubai’s sturdy infrastructure, enterprise enabling and cultural atmosphere have considerably contributed to its international management. It additionally supplies a complete set of suggestions to foster the expansion of Dubai’s artistic sector, together with key alternative hotspots for traders, showcasing probably the most dynamic and quickly increasing cultural and artistic domains. A powerful emphasis is positioned on the necessity for reasonably priced technological options tailor-made to SMEs, adopting a hybrid enterprise mannequin that seamlessly integrates bodily and digital operations, and the significance of growing built-in curricula that join the artistic business with academic establishments, guaranteeing a sustainable expertise pipeline and business development.
To view the total report, go to https://www.dubaiculture.gov.ae/.
*Supply: AETOSWire
View supply model on businesswire.com: https://www.businesswire.com/information/dwelling/20250112169940/en/
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Antoine Boghos, +971503310001
antoine@cbpr.me
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