Dubai is cementing its position as a global leader in the creative economy, with a new white paper highlighting the sector's projected growth to AED27 trillion by 2030.
The report, developed by Dubai Design District (d3) and Dubai Media City, in collaboration with global consultancy Monstarlab, emphasizes the expanding role of disruptive technologies like AI, Web3, and virtual reality.
The Digital Creative Economy 2024 white paper compiles insights from over 20 industry leaders and a survey of 400 professionals. It explores how these emerging technologies are reshaping industries such as fashion, media, and visual arts, providing immense opportunities for young talent.
Dubai’s status as the global capital of the creative economy was recently affirmed by its top ranking in the 2023 Foreign Direct Investment (FDI) Index for cultural and creative sectors. The report notes that the global creative economy is expected to grow 11% annually.
“AI and Web3 are transforming content creation and business models,”
said Majed Al Suwaidi, Senior Vice President of Dubai Media City. He emphasized the need for skilled talent to maximize the potential of these technologies.
Khadija Al Bastaki, Senior Vice President of d3, highlighted Dubai’s strategic initiatives, such as the Dubai Creative Economy Strategy, aimed at increasing the creative sector’s contribution to 5% of GDP by 2025.
The white paper underscores Dubai’s role in driving the global creative industry forward, showcasing its well-developed infrastructure and commitment to innovation. With a focus on nurturing homegrown talent and fostering a technology-driven future, Dubai remains at the forefront of the creative revolution.
News Source: Emirates News Agency
