Dubai’s strategy will boost creative economy of Gulf

Dubai has launched a strategy to more than double the number of creative companies in the emirate over the next five years.

Sheikh Mohammed bin Rashid Al-Maktoum, the emirate’s ruler, announced the “Dubai Creative Economy Strategy” to boost the sector’s GDP contribution to 5 percent by 2025 – up from 2.6 percent in 2020.

The aim is to attract as many as 15,000 companies and 14,000 professionals to the emirate.
The creative economy includes companies and professionals in the business of publishing, audio-visual and print media, artistic and cultural industries, as well as the software and video game industry.

The emirate said it will upgrade legal and investment environment needed to spur the growth of creative industries.

“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 said in a Tweet.

His Highness affirmed that the rapid evolution of Dubai has been predicated on bold and creative ideas, adding: “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.”

To ensure this, a number of flexible packages, incentives and advanced creative incubators will be provided to maintain pace with the rapid technological developments shaping the world. By harnessing the technologies of the Fourth Industrial Revolution (4IR), Dubai can enrich the creative industries’ ability to enhance its competitiveness in local and global markets.