Dubai aims to boost contribution of creative arts to GDP
Dubai's ruler Sheikh Mohammed bin Rashid al-Maktoum aims to increase the number of companies working in spheres including books, music, cinema, art, heritage and culture.
Dubai aims to increase the contribution of creative arts to the emirate's GDP to 5% from 2.6% within the next five years, Dubai's ruler said on Saturday.
Dubai, part of the Unites Arab Emirates, is a regional business and tourism hub. It has the hydrocarbon-rich region's most diversified economy and was one of the hardest hit by the coronavirus pandemic.
The plan announced by Sheikh Mohammed bin Rashid al-Maktoum aims to increase the number of companies working in spheres including books, music, cinema, art, heritage and culture from 8,000 to 15,000 and creative professionals from 70,000 to 150,000 within five years, a statement published by Dubai Media Office said.
The plan includes changes to the legislative and investment environment and steps to attract innovators, investors and entrepreneurs.
Dubai has made several moves in recent months to make the emirate more regionally and globally competitive.