Latifa bint Mohammed unveils groundbreaking report on Dubai's creative economy

This initiative is part of Dubai Culture's efforts to advance the objectives of the Dubai Creative Economy Strategy. The report, developed in collaboration with DinarStandard, a privately-owned growth strategy research and advisory firm empowering organisations for responsible global impact, 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. It also offers a comprehensive analysis of the creative sector's performance and its diverse investment opportunities.

She emphasised that creativity is a powerful cultural, social, and economic force and a vital pillar in shaping the future of societies and cities. Highlighting its significant impact on advancing Dubai's knowledge and innovation-driven economy, she said, "Through its extraordinary growth journey and visionary achievements, Dubai has established itself as a prominent global economic and cultural hub. Under the leadership of Sheikh Mohammed bin Rashid Al Maktoum, Dubai has become a magnet for talent and investors worldwide. Its dynamic economic system and ambitious initiatives combined with the boundless opportunities it offers creatives and entrepreneurs, Dubai has reinforced its leadership in the creative economy and its role in shaping the future of culture and art."

Sheikha Latifa bint Mohammed emphasised the strategic significance of the report, highlighting its comprehensive overview of the creative economy in the UAE, the Arab region, and worldwide, as well as its role in shaping the future of the local creative sector. "Dubai continues to advance its creative and cultural industries by embracing innovative solutions, developing advanced digital infrastructure, and fostering an environment that empowers and supports the cultural and creative sector. This involves developing an integrated ecosystem that supports the entire cultural and creative cycle, encompassing creation, production, dissemination, exhibition, reception, transmission, and culminating in consumption or participation. By offering the necessary resources and facilities for creative businesses, we encourage talent to establish their ventures here. This approach has strengthened Dubai's global profile and leadership, transforming it into a thriving cultural hub, strongly aligned with our creative economy strategy."

The report provides a comprehensive overview of the creative sector, which serves as a significant global economic force, representing 6.1 per cent of the world's economy with a total value of USD 4.3 trillion. The report also shows that the UAE had the largest creative sector in the MENA region in 2021.

According to the Dubai Framework for Cultural Statistics, and data issued by the Dubai Data and Statistics Establishment, Dubai's cultural and creative industries generated AED21.96 billion in added value in 2022, contributing 4.6 per cent to the emirate's GDP. The report reveals that 47,544 companies operate in Dubai's creative sectors, providing jobs for 175,727 employees. In addition, Dubai attracted 898 foreign direct investment (FDI) projects in the cultural and creative industries in 2023, increasing total capital inflows for FDI projects to AED11.8 billion. Additionally, the report reveals that Dubai is home to more than 40 per cent of start-ups in the sector that have secured over USD 1 million worth of funding in the MENA region, with 306 based in the emirate.

Hala Badri, Director General of Dubai Culture, affirmed that Dubai has strengthened its status as a global hub for the cultural and creative industries thanks to its visionary leadership and attractive legislative and investment environment.

She emphasised that the Creative Dubai report reflects the performance and reality of Dubai's cultural sector and its ability to shape a bright future, stating: "The report's findings provide strong motivation for members of Dubai's creative community, opening new horizons for them and inspiring innovation, as they continue their professional journeys and implement their unique ideas and projects, contributing to the strength of Dubai's cultural and creative industries, aligned with Dubai Culture's commitment to empowering talent and entrepreneurs."

The report highlights how Dubai's robust infrastructure, business-enabling support and vibrant cultural environment have significantly contributed to its global leadership. This enabled Dubai to win the bid to host the World Cities Culture Summit 2024 for the first time in the MENA region and the International Council of Museums (ICOM) General Conference 2025 for the first time in the Middle East, Africa and South Asia. Furthermore, Dubai ranked first regionally and fourth globally in the Cultural Interaction parameter within the 2023 Global Power City Index for the second consecutive year.

The report also outlines the trends that will shape the sector in Dubai over the coming years. The emirate seeks to enhance its position as a global innovation hub by adopting cutting-edge solutions, supporting artificial intelligence, augmented reality, and blockchain technologies, balancing technological advancement with sustainable innovation while preserving cultural identity, attracting talent and fostering their engagement with the community.

The report provides a comprehensive set of recommendations to foster the growth of Dubai's creative sector. It highlights key opportunity hotspots for investors, showcasing the most dynamic and rapidly expanding cultural and creative domains. The report also identifies relevant innovations, opportunity areas, and investment themes that leverage the UAE's membership in BRICS to broaden the scope of creative collaborations and expand market potential.

A strong emphasis is placed on affordable technological solutions tailored to SMEs, including initiatives such as government-funded projects and public innovation labs. Additionally, the report advocates for the adoption of a hybrid business model that seamlessly integrates physical and digital operations. It underscores the importance of developing integrated curricula that build linkages between the creative industry and educational institutions, ensuring a sustainable talent pipeline and industry growth.

The creative sector's influence on Dubai is evident in its economy, global distinctiveness, and quality of life. Dubai stands out as a regional leader in the creative sector, fostering cultural enrichment, generating economic opportunities, and championing the conservation and restoration of natural ecosystems. Its innovative urban development and artistic aesthetics further enhance its appeal, solidifying its position as a hub for cultural tourism. (ANI/WAM)