This year is the International Year of the Creative Economy for Sustainable Development, introduced by Indonesia and ratified by a resolution signed by the UN General Assembly. This is the first time the creative economy has been recognised, which according to the resolution, outlines the need to “promote sustained and inclusive economic growth, foster innovation and provide opportunities, benefits and empowerment for all and respect for all human rights”.
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.
Abu Dhabi plans to spend $6 billion to create new projects in the cultural and creative business sector over the next five years, the Financial Times reported. It is part of the UAE capital’s efforts to diversify its economy away from oil.
Abu Dhabi is accelerating the growth of the Culture and Creative Industries (CCI) through a AED30+ billion investment strategy that sees the Department of Culture and Tourism – Abu Dhabi (DCT Abu Dhabi) cements its leadership position as the custodian of all the multidisciplinary sectors within the CCI.
When President Joe Biden signed the American Rescue Plan into law within his first 100 days of office, some questioned why it included funding for the arts and humanities. Each of our agencies – the National Endowment for the Arts and the National Endowment for the Humanities – received $135 million to support and sustain arts and humanities groups as well as educational institutions facing financial hardships brought on by the COVID-19 pandemic.
The cultural and creative sector can play an essential role in the recovery phase after the crisis: as a job engine, as a binding agent for society and as a source of imagination and creativity in major social issues.