A new white paper by Dubai Design District (d3) and Dubai Media City, developed in collaboration with Monstarlab, highlights the burgeoning $7.3 billion global digital creative economy, driven by emerging technologies like AI, Web3, and virtual reality. The “Digital Creative Economy 2024” report synthesizes insights from over 400 professionals in design and media, reflecting significant growth opportunities within the sector.
The report celebrates Dubai’s leadership as the creative economy’s global capital, marked by its top position in the FDI Index for creative and cultural project inflows and job creation in 2023. With an expected annual growth rate of 11%, the sector is projected to reach a valuation of AED27 trillion by 2030.
This pivotal research arrives as generative AI reshapes production processes and business models within creative industries. The white paper delves into how emerging technologies are transforming skills and services across various domains, including fashion, architecture, and advertising, reflecting Dubai’s strategic initiatives to support homegrown content creation and innovation-led creativity.
Majed Al Suwaidi of Dubai Media City emphasized the need for future talent to be equipped with the skills to thrive in this evolving landscape. Meanwhile, Khadija Al Bastaki of d3 highlighted the strategic efforts underpinning Dubai’s creative sector growth, aiming to boost its GDP contribution to 5% by next year.
The white paper not only outlines the transformative impact of AI and other technologies on the creative industry but also reinforces Dubai’s role as a significant player in the global creative market.
