Dubai gives $270m push to artists and creative industries

Dubai has allocated AED1 billion ($270 million) to support its cultural and creative industries.

The Creative Sector Resilience Portfolio, launched by Sheikha Latifa bint Mohammed bin Rashid Al Maktoum, chairperson of Dubai Culture and Arts Authority (Dubai Culture), will support skilled professionals and drive the sector as a key contributor to Dubai’s economy, the state-run Dubai Media Office reported.

Sheikha Latifa said the portfolio will support cultural and creative institutions, small and medium-sized enterprises and talented artists, equipping the sector to respond to evolving conditions and keep pace with new developments.

The portfolio includes five interconnected pillars – cultural infrastructure, creative production, talent development, participation and audience and cultural impact. 

It will be delivered in phases, with each stage introducing a package of initiatives that give creatives and cultural institutions access to free spaces, funding, professional development and market opportunities. 

Several agreements have been reached with public- and private-sector partners to roll out the packages, the statement said. 

This month, Dubai offered incentives worth AED1 billion to ease the financial pressure on businesses and individuals affected by the US-Israel war on Iran. 

The UAE also allocated AED1 billion to support the localisation of critical industries and strengthen supply chain resilience.

Since last month the Emirates, Qatar and Kuwait have announced stimulus packages for banks to spur lending and offset economic damage caused by the conflict.

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