Dubai soon to be a global capital of creative economy

Dubai is all set to be a major contributor to the global creative economy. The Vice President and Prime Minister of the UAE and Ruler of Dubai Sheikh Mohammed bin Rashid Al Maktoum launched a new scheme, Dubai Creative Economy Strategy, aimed at increasing creative firms in the emirate.

The ruler took to Twitter to announce the strategic program that will increase the number of creative firms from 8,000 to 15,000 in Dubai and creative professionals from 70,000 to 150,000 within the next 5 years.

"Under the new program, we aim to increase the contribution of the creative economy to our GDP from 2.6% to 5% and launch new creative zones in content, design and arts. Innovation is an integral part of our economy, lifestyle and future," tweeted Sheikh Mohammed. It is also expected that the initiative will increase the contribution of the creative economy to the GDP from 2.6 percent (at the end of 2020) to 5 percent within half a decade.

"The programme will launch new creative zones in content, design and arts. Innovation is an integral part of our economy, lifestyle and future," he added.

Various fields such as publishing, writing, audio-visual and print media such as cinema, music and video, as well as artistic and cultural industries, cultural heritage museums, historical sites, events, libraries and the software and gaming sector will all be a part of the initiative.

The Dubai Creative Economy Strategy is being implemented under the benefaction of Sheikha Latifa bint Mohammed bin Rashid Al Maktoum, Chairperson of Dubai Culture and Arts Authority and the recipient of this term's First Arab Lady of the Year award, and supervised by the Dubai Culture & Arts Authority in cooperation with the Dubai Roads & Transport Authority (RTA), Dubai Municipality, Dubai Economy and Wasl Asset Management Group, according to a statement released by the Dubai Media, the statement added.

The emirate initiated the process of the creative economy years ago by bringing about several centres including Dubai Internet City, Dubai Media City, Dubai Production City, Dubai Studio City and Dubai Design District.