Dubai is known worldwide as a premier destination for tourism, business, and premium lifestyle, but now the emirate is seeking a new rank: global capital for the creative economy. Dubai successfully launched a new strategic program to double the number of creative companies and professionals focusing on content, culture, and design, aptly named the Dubai Creative Economy Strategy. Here is what you should know about the new program:
Goals of the Dubai Creative Economy Strategy
The Dubai Creative Economy Strategy aims at doubling the creative industries' Gross Domestic Product (GDP) contribution to 5% of Dubai's economy by 2025. The contribution of the creative industries stood at 2.6% at the end of 2020. The initiative seeks to more than double the number of creative companies based in Dubai, from 8,300 to 15,000 within the next five years. Creative professionals based in the emirate are estimated to increase from 70,000 to about 150,000 within five years.
Potential Ways that Future Creatives May Grow their Industries in Dubai
The Dubai Creative Economic Strategy aims to upgrade the legal and investment ecosystem needed to spur the growth and prosperity of creative industries in Dubai. This move means that future creative industries will gain positive support from legal and investment frameworks in Dubai to grow in different sectors. The strategy will also enhance Dubai's attractiveness to potential customers and target clientele for various creative industries.
Current Efforts And Major Milestones
While the new strategy is a welcome advance in the emirate's creative sector, many areas of the city have already built a solid foundation on which to continue this latest effort.
Dubai Design District
Take a 10 minute drive from Downtown Dubai, and you'll find yourself in the glassy, modern compound of the Dubai Design District, dedicated to startups, entrepreneurs, international designers, luxury, and fashion businesses. The Dubai Design District has a mix of art cafe culture, creative agencies, interior design stores, and street sculptures.
Alserkal Avenue
On the outside, this industrial compound in Al Quoz may seem very unassuming, but upon further exploration, visitors will find a collection of warehouses with residencies for local and international artists. Alserkal Avenue is also known for artisan eateries, intriguing and diverse fashion, homeware stores, vintage car showrooms, fitness studios, and Cinema Akeel, the only independent, small seating movie theater in the city.
Dubai Production City
Created back in 2003, this Dubai neighborhood is now a world-class environment for media production, printing, publishing, and professional packaging. Dubai Production City has state-of-art infrastructure, a business-friendly ecosystem, retail and residential developments that have created a vibrant community. The zone has over 220 companies and more than 6,800 creative professionals. The Dubai Creative Economy Strategy intends to build on this kind of a milestone achieved by the region.
Dubai Studio City
The leading Dubai community of film and television production, Dubai Studio City is home to over 270 companies and more than 2,500 professionals. This entertainment ecosystem features state-of-art infrastructure as well as purpose-built facilities. Dubai Studio City offers the largest sound stages in the Middle East, supporting major cinema projects that include Star Trek Beyond and Mission Impossible: Ghost Protocol.
The future of these industries will also benefit from innovation as a tool of growth. Innovation ushers in industrial and market disruption, and future creative investors will have to focus on innovation and technology to place their industries at the forefront of positive growth in Dubai. Dubai's move to support a bigger gig economy will also influence this sector, making it more straightforward for players to access creative projects of varying categories. Through Dubai Creative Economy Strategy, creatives will have a sustainable environment to grow their initiatives.