Emirates News Agency – Art Dubai 2023 generates economic impact of AED 143m and attracts 23,500 hotel bookings in Dubai, new study finds

DUBAI, May 21, 2023 (WAM) — Art Dubai, the leading international art fair in the Middle East and Global South, today announced that the five-day event, which will run from March 1-5, 2023, will impact the city with AED 143 million.

New figures revealed in the ‘Economic Impact Study’ by leading independent market research consultancy IPSOS also showed that the renowned art fair attracted a staggering 23,500 hotel bookings to Dubai.

Recently announced figures show a significant increase in economic impact, surpassing the latest comparable figures by more than 55% (compared to AED 92 million in 2019). This notable growth reflects Dubai’s progress as a burgeoning cultural and creative hub and underlines its unprecedented growth as a global destination.

Held under the auspices of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the United Arab Emirates and Ruler of Dubai, the 2023 edition was the most successful edition of Art Dubai to date, with over 130 contemporary and modern exhibitors from over 40 countries and the strongest participation of regional and international institutional representatives so far.

Hala Badri, CEO of the Dubai Culture and Arts Authority, stated that Dubai is experiencing an all-round creative and cultural movement that plays a key role in realizing Dubai’s cultural vision of establishing the emirate as a global cultural hub, creativity incubator and a thriving talent hub. “At Dubai Culture, we are eager to support the cultural and arts sector in the emirate by adopting innovative methods to attract talent and art enthusiasts, as well as providing creative platforms that allow artists to express their ideas and expand their creative contributions that enrich Dubai’s arts scene. The extraordinary successes achieved with the 16th edition of Art Dubai reflect Dubai’s global position as a major center for artistic and creative events.”

Badri added: “Art Dubai has matured and developed into a unique moment in the international arts calendar, bringing together Dubai’s brightest and best cultural and artistic minds every year. The figures announced in the Economic Impact Report further highlight the importance of world-class cultural programs in attracting people from all over the world to this unique city.”

Benedetta Ghione, Executive Director of Art Dubai, commented: “The released economic impact figures highlight Dubai’s continued growth and development as one of the major cultural hubs of the arts world and the cultural capital of the Global South. 2023 has been Art Dubai’s most successful year to date, and the 2024 edition will continue to build on the reputation we have nurtured over the past two decades, strengthening our unique position in the art market and continuing to push the boundaries of what art fairs can do.”

Art Dubai is the best platform to view and buy art from the Global South. Through its contemporary, modern and digital gallery sections, annual artist commissions, and year-round collecting and education programs, Art Dubai champions art and artists. It has consolidated its position as a regional cultural center and an increasingly important meeting place for the art world of the Global South. The city has experienced rapid growth over the past 10 years and now top collectors and institutional buyers from the UAE, the region and abroad come to the fair.

Art Dubai, run in partnership with ARM Holding, has gained sponsorship from Julius Baer, ​​​​Swiss Wealth Management Group. The fair also gained the support of HUNA, a culturally rich developer and partner of Art Dubai. Dubai Culture & Arts Authority (Dubai Culture) is a strategic partner of the fair and Madinat Jumeirah provides a great venue for the event.

Art Dubai 2024 will take place at Madinat Jumeirah from March 1-3, with premieres on February 28 and 29.

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