Dhs30 billion Abu Dhabi investment plan to boost creative and cultural industries

Dhs30 billion Abu Dhabi investment plan to boost creative and cultural industries
Dhs30 billion Abu Dhabi investment plan to boost creative and cultural industries

Hello and welcome to the details of Dhs30 billion Abu Dhabi investment plan to boost creative and cultural industries and now with the details

Nevin Al Sukari - Abu Dhabi - The photo used for illustrative purpose.

The Culture and Creative Industries are key drivers of social and economic growth and diversification in Abu Dhabi. One of the fastest growing economic sectors worldwide, globally they generate annual revenues of $2,250 billion, provide 30 million jobs and are predicted to make up some 10% of global GDP.

In addition to this rapid acceleration, studies show that the CCI demonstrate considerable resilience and adaptability in the face of changing economic dynamics. As the world emerges from the effects of the global pandemic, the sector’s high-value products and services have the power to support a new economic recovery, one that is more environmentally friendly and based on knowledge and new technologies.

To capitalise on this growth, Abu Dhabi has invested significantly and strategically to create thriving Culture and Creative Industries, with an overall planned investment in excess of Dhs30 billion. Over the past five years, Dhs8.5 billion has been committed across the emirate, including in flagship projects such as Yas Creative Hub — the emirate’s new home for media and gaming — and Saadiyat Cultural District, as well as soft infrastructure initiatives such as the Creative Visa, announced earlier this year.

The Creative Visa programme will provide sustainable employment opportunities in Abu Dhabi by enabling talented creative professionals from around the world to live and work in the UAE, further bolstering the creative scene in the emirate.

A further Dhs22 billion is expected to be rolled out across the industry over the next five years, with a substantial portion to be deployed in the development and support of cultural institutions, mainly new museums, including the upcoming Zayed National Museum and Guggenheim Abu Dhabi, as well as additional museums in the pipeline. The emirate’s performing arts, music, media and gaming sectors will also see further investment in their diverse array of programmes and initiatives.

Now, DCT Abu Dhabi brings all CCI domains under one roof, adding cutting-edge domains such as film and TV, multimedia, gaming and exports to its existing sectors of heritage, crafts and design, publishing, visual and performing arts. By doing so, it ensures consolidated cross-sectorial synergy between the key domains of the Culture and Creative Industries. With a single custodian and ongoing investment, the industry’s growth will continue to accelerate and support a unified creative ecosystem across the public and private sectors.

Mohamed Khalifa Al Mubarak, Chairman of DCT Abu Dhabi, said, “DCT Abu Dhabi’s Culture and Creative Industry (CCI) Strategy was launched in 2019 to position Abu Dhabi as a recognised cultural and creative centre that attracts, incubates and supports talented professionals and creative businesses, accelerating the emirate’s ambition to become a leading regional producer and exporter of creative and cultural content.

“With the entire CCI under one umbrella, DCT Abu Dhabi is able to harness the natural synergies between the emirate’s culture, tourism and creative sectors, establishing Abu Dhabi as a centre for cutting-edge facilities, outstanding talent and enriching, sustainable opportunities.

“We see the Culture and Creative Industries as a powerful driver of economic diversification as well as defining pillars of the emirate’s identity. Through Abu Dhabi’s pioneering leadership, we will champion all CCI domains to transcend borders and reach global audiences and communities.”

Saood Al Hosani, Undersecretary of DCT Abu Dhabi, said, “The Culture and Creative Industries are a significant contributor to the global and local economies. Today, Abu Dhabi supports more than 20,000 sustainable jobs in the field, and we expect this to grow significantly in the coming years.

“DCT Abu Dhabi’s comprehensive five-year strategy to build on the emirate’s pre-existing success in this area is now seeing diverse yet interrelated sectors streamlined under one organisation. This will greatly accelerate job creation, allowing individuals and businesses to reach new levels of professional and economic success.

“DCT Abu Dhabi’s established culture sector will work hand in hand with sectors like multimedia and video gaming, facilitating collaboration and strong local and global partnerships in support of Abu Dhabi’s innovative and ambitious vision.”

Abu Dhabi has been investing heavily in the Culture and Creative Industries, with investments spanning the creation of cultural institutions and world-class infrastructures to programmes and initiatives of international relevance that have supported the growth of creative and culture businesses, professionals and practitioners based in the emirate and beyond.

WAM

These were the details of the news Dhs30 billion Abu Dhabi investment plan to boost creative and cultural industries for this day. We hope that we have succeeded by giving you the full details and information. To follow all our news, you can subscribe to the alerts system or to one of our different systems to provide you with all that is new.

It is also worth noting that the original news has been published and is available at Gulf Today and the editorial team at AlKhaleej Today has confirmed it and it has been modified, and it may have been completely transferred or quoted from it and you can read and follow this news from its main source.

PREV UAE announces 2,179 new COVID-19 cases and 6 deaths
NEXT American Jewish advocacy group opens office in Abu Dhabi