Art Dubai 2023 Generates AED143 Million In Economic Impact And Attracts 23,500 Hotel Bookings To Dubai, New Study Reveals
The ’‘Economic Impact Study’ was published by leading independent market research consultancy IPSOS
Art Dubai, the leading international art fair for the Middle East and Global South, today announced that the five-day event,held between 1-5 March 2023, has delivered an outstanding direct economic impact of AED143 million to the city.
New figures revealed in the ‘Economic Impact Study’ by leading independent market research consultancy IPSOS also showed that the renowned art fair attracteda staggering 23,500 hotel nights bookings to Dubai.
The recently announced figures demonstrate a significant rise in economic impact, surpassing the most recent comparable data by over 55% (compared to AED92 million in 2019). This noteworthy increase reflects Dubai’s progress as a burgeoning cultural and creative hub and highlights its unprecedented growth as a global destination.
Held under the patronage of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai,the 2023 edition was Art Dubai’s most successful to date, featuring over 130 contemporary and modern exhibitors from more than 40 countries and the strongest-ever participation of regional and international institutional representatives.
Hala Badri, Director General of Dubai Culture and Arts Authority,expressed that Dubai is experiencinga comprehensive creative and cultural movement, which is playing a pivotal role in realising Dubai's cultural vision of establishing the emirate as a global centre for culture, an incubator for creativity and a thriving hub for talent.“At Dubai Culture, we are keen on supporting the cultural and arts sector in the emirate by adopting innovative methods capable of attracting talent and art enthusiasts, in addition to providing creative platforms that allow artists to express their ideas and expand their creative contributions that enrich Dubai's art scene. The remarkable successes achieved by the 16th edition of the Art Dubai exhibition reflect Dubai's global position as a vital hub for artistic and creative events."
Badri added: “Art Dubai has matured and developed into a unique moment in the international art calendar, convening Dubai's brightest and best cultural and artistic minds each year. The figures announced in the economic impact reportfurther underline the importance of world-class cultural programming in attracting people worldwide to this unique city.”
Benedetta Ghione, Executive Director of Art Dubai, commented: “The published economic impact data serves to underscore Dubai’s continued growth and development as one of the major cultural centres of the art world and the cultural capital of the Global South. 2023 was Art Dubai’s most successful to date, and our 2024 edition will continue to build on the reputation we have nurtured over the last two decades, reinforcing our unique position in the art market and continuing to push the boundaries of what an art fair can do.”
Art Dubai is the premier platform to see and buy art from the Global South. Across contemporary, modern and digital gallery sections, annual artist commissions and year-round collector and education programmes, Art Dubai champions art and artists. It has established itself as a regional cultural hub and an increasingly important meeting point for the Global South’s art world. The city has experienced rapid growth over the last 10 years, and the fair now welcomes top collecting and institutional audiences from the UAE, the region and internationally.
Art Dubai, held in partnership with A.R.M. Holding, has gained sponsorship from Julius Baer, a Swiss Wealth Management Group. The fair has also garnered support from HUNA, a culturally-rich developer and partner of Art Dubai. The Dubai Culture & Arts Authority (Dubai Culture) serves as the fair's strategic partner, and Madinat Jumeirah provides a stunning venue for the event.
Art Dubai’s 2024 edition will take place at Madinat Jumeirah from 1-3 March, with previews on 28 and 29 February.