The United Arab Emirates is working to enhance its leading position as a global destination for the creative economy, through a future vision and comprehensive strategy aimed at diversifying the national economy. The UAE focuses on transforming the country into a preferred destination for creators, investors, and entrepreneurs from all over the world. The UAE is considered one of the leading countries in the creative economy regionally and globally, and its role in promoting and developing this sector at the global level is expected to grow, especially given the competitive infrastructure the country provides that encourages investment in innovation and creativity. This, in addition to its ongoing efforts to support creative cultural industries, which are a key pillar for economic diversification.
The creative economy forms a fundamental pillar in the UAE's strategy for growth and development over the next 50 years, particularly since the creative economy is one of the fastest-growing economic sectors globally, contributing over 6.1% to the global GDP, with annual revenues exceeding $2 trillion. The UAE has launched multiple programs and initiatives in recent years to support the shift towards a creative economy, enhance innovation, investment in creative projects, and provide new growth opportunities. Leading this initiative is the national strategy for cultural and creative industries, which establishes a new phase for the future of the creative economy and solidifies strong foundations to enhance the contribution of the cultural and creative industries sector in achieving sustainable development, boosting the UAE's presence and status as a global destination attracting creative talents and expertise.
The national strategy for cultural and creative industries, which is the first of its kind in the Arab world, aims to advance the sector, increase its size, and enhance its capabilities, positioning it among the ten most important economic industries in the country. It also strives to increase the contribution of cultural and creative industries to reach 5% of the total GDP in the next ten years while doubling the number of businesses operating in the sector as well as the number of jobs it provides, especially given the existence of 22 free zones in various emirates of the state that attract creatives and talents.
In Abu Dhabi, the creative economy and cultural and creative industries are key drivers of economic growth and diversification. The Department of Culture and Tourism – Abu Dhabi launched the Abu Dhabi Strategy for Cultural and Creative Industries as part of a five-year cultural agenda aimed at combining significant investments with unprecedented measures to create a conducive environment for the flourishing of cultural and creative industries. Abu Dhabi has made significant strategic investments to establish thriving cultural and creative industries, with a total planned investment value exceeding 30 billion dirhams.
Meanwhile, Dubai topped the foreign direct investment index in cultural and creative industries for 2023, according to the "FDI Markets" report published by the Financial Times, a major source of data for new direct investment projects. Dubai maintained its position as the best global destination for job creation and capital inflows in the cultural and creative industries sector among 115 cities ranked in the report. According to data from the Dubai Foreign Investment Observatory issued by Dubai's Department of Economy and Tourism, the emirate successfully attracted 898 projects in the cultural and creative industries sector in 2023, nearly double the previously recorded figure of 451 projects in 2022, leading to an increase in the total foreign direct investment inflows in the sector to 11.8 billion dirhams, a 60% increase. This contributed to the creation of 21,563 new job opportunities through these projects in 2023, representing a 74% increase compared to 2022.
Dubai consolidates its position as a home for creative energies and a magnet for talents from around the world, aiming to achieve the targets of the "Dubai Creative Economy Strategy," which include doubling the creative sector's contribution to the emirate's GDP from 2.6% at the end of 2020 to 5% by 2026, also doubling the number of creative companies in the fields of content, design, and culture from 8,300 to 15,000, and doubling the number of creative jobs from 70,000 to 140,000 during the same period. In this context, various emirates of the state continue to work to support and enhance the creative economy in line with the state strategy aimed at nurturing the future generation of creative thinkers, enriching their knowledge and life skills, and activating their role in economic growth and sustainable development.
