Dubai to double the variety of artistic corporations

Sheikh Mohammed Bin Rashid Al Maktoum
His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister of the UAE and Ruler of Dubai Saturday introduced the launch of ‘Dubai is the capital of the artistic economic system’.
Image Credit: WAM/Gulf News Archives

Dubai: Dubai has launched a brand new strategic programme to double the variety of artistic corporations specializing in content material, design and tradition.

‘Dubai is the capital of the artistic economic system’ is the most recent programme launched by the emirate, to additional promote the town as a worldwide financial capital. Accordingly, variety of artistic corporations will likely be doubled from 8,000 to 15,000 over the following 5 years.

The variety of artistic individuals can even double from 70,000 t0 150,000.

Making the announcement of his twitter web page, His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, mentioned: “Dubai is the capital of the creative economy in the region and the world … a new strategic programme that we launched today to double the number of creative companies in specializing in content, design and culture from 8,000 to 15,000 within the next five years as well as the number of creative people from 70,000 in Dubai currently to 150,000”.

“We have creative complexes in design, content, culture, arts, etc…We will launch others. We have set a goal to raise the contribution of this sector within our gross domestic product from 2.6 per cent to 5 per cent. The UAE is a global economic capital and creativity is part of our economy, our quality of life and a major driver for the future of our country,” he tweeted.

Targets of technique

The Dubai Creative Economy Strategy goals to double the artistic industries’ GDP contribution to five per cent of Dubai’s economic system by 2025, from 2.6 per cent on the finish of 2020.

To obtain its objectives, the Dubai Creative Economy Strategy contains upgrading the authorized and funding atmosphere wanted to spur the expansion and prosperity of artistic industries in Dubai

The technique will contribute to remodeling Dubai into a worldwide capital for the artistic economic system, a direct translation of the imaginative and prescient of Sheikh Mohammed bin Rashid Al Maktoum, and an implementation of Dubai Plan 2021 which aspires to raise Dubai’s main function as a worldwide hub in quite a lot of financial, monetary, and enterprise sectors.

The idea of a artistic economic system covers broad and assorted fields together with publishing, writing, audio-visual and print, media akin to cinema, music and video, in addition to inventive and cultural industries, cultural heritage museums, historic websites, archives, main cultural occasions, libraries, and the software program and videogame trade. It additionally contains design in all of its many variations, whether or not associated to vogue, gaming, software program, or structure – these industries the place artistic minds can produce new and thrilling ideas.

Capital of artistic economic system

“Today, we launch the Dubai Creative Economy Strategy with the aim of transforming the emirate into a preferred destination for creativity from across the world and a capital of the creative economy by 2025, in order to achieve our vision for a future economy based on knowledge and innovation,” Sheikh Mohammed mentioned in a Tweet.

His Highness affirmed that the speedy evolution of Dubai has been predicated on daring and artistic concepts, including: “We always welcome creative individuals and companies from all over the world, and we seek to provide a suitable environment for them to transform their dreams, aspirations and creativity into an added value and a sustainable economic resource.”

“The UAE is a global economic capital, and creativity is part of our economy and of our quality of life, and a major engine for the future of our country,” Sheikh Mohammed mentioned.

The Dubai Creative Economy Strategy is an built-in initiative that goals to develop the artistic industries sustainably by rolling-out the requisite legislative, funding and technical frameworks to help and catalyse the huge and increasing artistic group in Dubai.

To guarantee this, a lot of versatile packages, incentives and superior artistic incubators will likely be supplied to keep up tempo with the speedy technological developments shaping the world. By harnessing the applied sciences of the Fourth Industrial Revolution (4IR), Dubai can enrich the artistic industries’ capability to reinforce its competitiveness in native and international markets.

Support and partnership

The Dubai Creative Economy Strategy is being applied beneath the patronage of Sheikha Latifa bint Mohammed bin Rashid Al Maktoum, Chairperson of the Dubai Culture & Arts Authority (Dubai Culture), and supervised by the Dubai Culture & Arts Authority in cooperation with a lot of strategic companions, notably, the Dubai Roads & Transport Authority (RTA), Dubai Municipality, Dubai Economy, and Wasl Asset Management Group, with the purpose of reaching galvanising new ranges of productiveness from Dubai’s artistic economic system.

Stimulating creativity

The Dubai Creative Economy Strategy focuses on offering an acceptable and stimulating local weather for creatives to generate added financial worth to their creativity, by integrating creativity with capital funding alternatives with distinguished returns, thus enhancing Dubai’s place as a worldwide vacation spot for tradition and creativity, whereas additionally fortifying its function as a worldwide engine of the world’s artistic economic system. It can even contribute considerably to diversifying and accelerating an economic system primarily based on information, innovation and creativity.

Strategic aims

In addition to doubling the contribution of the artistic industries to Dubai’s GDP, the principle aims of the Dubai Creative Economy Strategy embody greater than doubling the variety of artistic and tradition corporations and establishments working within the discipline of artistic industries from 8,300 at the moment to 15,000 corporations and establishments by 2025. It is anticipated that this may result in a doubling within the variety of jobs supplied by artistic industries from 70,000 jobs at the moment to 140,000 jobs within the coming interval.

The driving philosophy of the Dubai Creative Economy Strategy stems from the emirate’s massive objectives and aims of enhancing artistic financial output and enhancing social cohesion by highlighting the distinctive nationwide id of the UAE by leveraging the innate cultural range of Emirati society which has at all times welcomed and fostered artistic skills from all around the world.

To additional drive this philosophy, the Dubai Creative Economy Strategy will see the launch of an built-in zone for artistic people in Dubai that gives the requisite elements for growing a world-class artistic sector within the emirate which allows and empowers skills to compete on the worldwide stage.

Additionally, it is going to embody the launch of the Creative Economy Classification and Measurement Framework, a dynamic new instrument that may permit Dubai to measure the size and influence of its artistic economic system past GDP contribution. It will allow Dubai to take its “creative pulse”.

Early consciousness

Though Dubai has long-realised the significance of the artistic economic system and its optimistic influence on the general economic system, the emirate has efficiently formulated a brand new idea for artistic entrepreneurship and has invested in establishing artistic clusters to draw a large number of corporations and 1000’s of creatives from the world over, which has resulted in a rise within the sector’s contribution to GPD. It has successfully unleashed the large and promising potential they provide and enabled them to play a pivotal function in assembly the sustainable improvement objectives (SGDs) outlined by the United Nations.

Dubai started the method of the artistic economic system a long time in the past with the institution of expansive and complicated artistic complexes in varied sectors akin to Dubai Internet City, Dubai Media City, Dubai Production City, Dubai Studio City and Dubai Design District, which noticed the artistic economic system contribute 2.6 per cent to Dubai’s GDP by the tip of 2020.

Unprecedented transformations

Globally, the artistic economic system is witnessing an unprecedented increase. Global revenues have reached a complete of US$2.25 trillion – representing 10 per cent of world GDP along with creating 30 million jobs. There is big potential of this sector for the years forward, and it’s on the epicentre of Dubai’s plans for constructing a resilient, agile and sustainable economic system.

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