Latifa bint Mohammed unveils groundbreaking report on Dubai's creative economy
Sheikha Latifa Unveils 'Creative Dubai' Report
In Dubai, Sheikha Latifa bint Mohammed bin Rashid Al Maktoum, Chairperson of the Dubai Culture and Arts Authority, has introduced a report titled 'Creative Dubai: Navigating Tomorrow's Creative Landscape'. This report aligns with Sheikh Mohammed bin Rashid Al Maktoum's vision to make Dubai a global cultural hub. Developed with DinarStandard, the report highlights Dubai's achievements in the cultural and creative industries and offers insights into investment opportunities.
Dubai's Creative Economy Strategy
The report emphasizes creativity as a key driver of Dubai's economy, contributing AED21.96 billion to the GDP in 2022. It reveals that 47,544 companies in Dubai's creative sectors employ 175,727 people. In 2023, Dubai attracted 898 foreign direct investment projects, totaling AED11.8 billion in capital inflows.
Global Recognition and Future Trends
Dubai's strong infrastructure and cultural environment have led to hosting the World Cities Culture Summit 2024 and the ICOM General Conference 2025. The report outlines future trends, focusing on innovation, AI, and blockchain, while preserving cultural identity. It also suggests affordable tech solutions for SMEs and hybrid business models.
Hala Badri, Director General of Dubai Culture, highlighted the report's role in inspiring innovation and supporting Dubai's creative community. The report positions Dubai as a leader in cultural tourism and economic opportunities, enhancing its global profile.
Doubts Revealed
Sheikha Latifa
Sheikha Latifa is a princess from Dubai, which is a city in the United Arab Emirates. She is part of the royal family and works on projects to improve culture and arts in Dubai.
Creative Dubai
Creative Dubai is a report that talks about how Dubai is growing its arts and culture industries. It shows how these industries help the city's economy and what future plans are in place.
Cultural Economy
Cultural economy refers to the part of the economy that deals with arts, culture, and creative industries. This includes things like movies, music, and art, which can help make a city more interesting and attract visitors.
Sheikh Mohammed
Sheikh Mohammed is the ruler of Dubai and the Prime Minister of the United Arab Emirates. He has a vision to make Dubai a leading city in culture and innovation.
DinarStandard
DinarStandard is a company that helps with research and strategy, especially in Muslim-majority countries. They worked with Dubai to create the Creative Dubai report.
GDP
GDP stands for Gross Domestic Product. It is the total value of all goods and services produced in a country or city, showing how strong the economy is.
AED
AED is the currency used in the United Arab Emirates, including Dubai. It stands for Arab Emirates Dirham.
FDI
FDI stands for Foreign Direct Investment. It means money that people or companies from other countries invest in a city or country to start or grow businesses.
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