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28 April, 2022

Dubai Consolidates Position as Hub for Global Talent

The Dubai Culture and Arts Authority (Dubai Culture) revealed the results of a unique study on the performance of the Emirate’s cultural and creative industries between 2018 and 2020. Developed in partnership with the Dubai Statistics Center, the study reaffirms Dubai’s global competitiveness as a creative economy capital and a hub for creative talent.

 

According to a report by UNESCO, the International Confederation of Societies of Authors and Composers (CISAC) and EY (formerly Ernst & Young), revenues generated by the global creative economy before the pandemic totaled $2,250 billion, i.e. 3% of world GDP. The sector also created 29.5 million jobs globally, representing 13% of the total worldwide workforce, Sheikha Latifa said.

 

The creative economy includes six main sectors: cultural and natural heritage, books and press, performing arts and celebration, audio-visual and interactive media, visual arts and crafts, and design and creative services. These six sectors are further subdivided into 27 subsectors, including cultural education, music and performing arts, photography, fine arts, crafts, books, film, video games, fashion, product design, among others.

 

The results of the study validate the success of Dubai’s strategy in supporting the cultural and creative industries and attracting creative talent, skills and entrepreneurs. The period between 2018 and 2020 witnessed a steady growth in the number of enterprises operating in the cultural and creative industries. In 2019, the number of creative enterprises surged 27% to reach 13,144 from 10,351 enterprises in 2018. In 2020, the number of creative enterprises reached 14,771, a growth of 12% from 2019. These creative enterprises, in turn generated exceptional job opportunities. The total workforce within the sector reached 100,486 in 2018, which increased 7.5% in 2019 to reach 108,019. Despite the impact of the pandemic, total employment witnessed an increase of 0.4% in 2020 to reach 108,444. The creative sector’s share of total employment in economic sectors in Dubai increased from 3.4% in 2018 to 3.6% in 2019 and to 4.1% in 2020.

 

Small and micro enterprises constituted the largest percentage (98%) of the total number of creative enterprises. The number of micro and small enterprises in the creative industries reached 10,112 in 2018, and grew 27% in 2019 to reach 12,884 enterprises. The year 2020 witnessed an increase of 12.5% in the number of micro and small enterprises to reach nearly 14,500.

 

The significant growth reflects the Dubai Culture and Arts Authority’s strategic efforts to support creative entrepreneurs and SMEs and facilitate business growth through a package of incentives that includes long-term cultural visas for talent. The Emirate’s attractiveness, infrastructure maturity and high quality of life as a smart city also contribute to attracting and retaining creative talent.

 

Are you in the creative space? To setup a business in this field, or to explore business opportunities, do get in touch with us now.

 

Source : khaleejtimes

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