Latifa bint Mohammed Reveals Key Insights on Dubai's Creative Economy

Photo : Dubai Government Media Office

Her Highness Sheikha Latifa bint Mohammed bin Rashid Al Maktoum, who leads Dubai Culture and Arts Authority, has shared an important report called ‘Creative Dubai: Navigating Tomorrow’s Creative Landscape.’ This report follows the ideas of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai. His plan is to make Dubai a big global center for culture, a place that supports creativity, and a city where talented people can grow and succeed.

This report is part of the Dubai Creative Economy Strategy. It was made with the help of a company called DinarStandard, which studies how businesses grow and gives advice to help them succeed. The report talks about how Dubai has done well in terms of culture and creativity. It also shows how the creative industries in Dubai are growing and what makes the city’s vision so strong. The report also shows areas where people and businesses can invest and grow.

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Her Highness Sheikha Latifa spoke about how important creativity is for the future. She said: “Dubai has become a big global city for both business and culture because of the leadership of His Highness Sheikh Mohammed bin Rashid Al Maktoum. Dubai gives many opportunities for creative people and business owners. This is why the city is now a leader in the creative world. Dubai’s ideas, plans, and support attract people and businesses from all over the world.”

Sheikha Latifa also said the report is very important. It gives a clear picture of how the creative economy is working in Dubai, the UAE, and in the rest of the world. It explains how Dubai keeps growing in creative industries by using modern technology, making digital systems, and helping businesses and workers in the cultural field.

The report talks about how Dubai supports every part of the creative process. This includes everything from thinking up new ideas and making products to sharing, showing, and selling them. Dubai gives creative people the tools, space, and help they need to succeed. This has made the city a world leader in culture and art.

The report also has some big numbers. For example, the creative sector makes up 6.1% of the world’s economy, which is worth $4.3 trillion. In 2022, Dubai’s creative industries added AED 21.96 billion to its economy. This made up 4.6% of the city’s total economy. Dubai has more than 47,000 companies in creative fields, and these companies employ 175,727 people. Last year, Dubai attracted 898 new investment projects in the creative industries, bringing in AED 11.8 billion. Dubai also has 40% of the region’s creative startups, with 306 of these businesses raising over $1 million each.

Hala Badri, who is the Director General of Dubai Culture, said Dubai has become a global center for creative industries because of strong leadership and rules that make it easy to do business. She said: “The report shows how much Dubai’s creative community has achieved. It will inspire people to come up with new ideas and projects. It will also help creative workers and business owners grow and succeed in their work.”

Dubai’s hard work has been noticed all over the world. For example, Dubai will host the World Cities Culture Summit in 2024, which will be the first time this event is held in the MENA region. Dubai will also host the International Council of Museums (ICOM) General Conference in 2025, another first for the Middle East, Africa, and South Asia. In addition, Dubai was ranked fourth in the world for cultural interaction in the 2023 Global Power City Index.

The report also talks about the future of Dubai’s creative sector. It shows that Dubai plans to use modern tools like AI, augmented reality, and blockchain while protecting its culture and traditions. Dubai also wants to attract more talented people to the city and keep growing its creative industries while also caring for the environment.

To help small and medium businesses, the report suggests using affordable technology, government-funded projects, and combining digital and traditional ways of working. It also recommends teaching students skills that are useful in creative industries. This will make sure there is always new talent to help the creative industries grow.

Dubai’s creative sector is not only helping the economy but also making the city more exciting and fun to live in. Its mix of culture, new ideas, and art makes it a special place. With strong plans for the future, Dubai will remain a leader in culture, creativity, and innovation.