Art Dubai, the renowned international art fair for the Middle East and Global South, recently announced the outstanding economic impact it had on the city during its five-day event held from March 1-5, 2023. According to the ‘Economic Impact Study’ conducted by IPSOS, a leading independent market research consultancy, the fair generated a direct economic impact of Dh143 million in Dubai. The study also revealed that Art Dubai attracted a remarkable 23,500 hotel night bookings, further contributing to the city’s economic growth.
These new figures demonstrate a significant increase in economic impact, surpassing the previous comparable data by over 55 percent. In 2019, the fair had a direct economic impact of Dh92 million. This substantial growth reflects Dubai’s progress as a burgeoning cultural and creative hub, highlighting its rapid development as a global destination.
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 of Art Dubai was the most successful to date. It featured over 130 contemporary and modern exhibitors from more than 40 countries and saw strong participation from regional and international institutional representatives.
Hala Badri, the Director General of Dubai Culture and Arts Authority, expressed the city’s comprehensive creative and cultural movement, which plays a pivotal role in realizing Dubai’s vision of establishing itself as a global center for culture, a hub for creativity, and a thriving talent pool. Dubai Culture is committed to supporting the cultural and arts sector by adopting innovative methods to attract talent and art enthusiasts. It provides creative platforms for artists to express their ideas and expand their creative contributions, enriching Dubai’s vibrant art scene. The remarkable success of the 16th edition of Art Dubai reflects the city’s global position as a vital hub for artistic and creative events.
Art Dubai has become a premier platform for experiencing and acquiring art from the Global South. The fair showcases contemporary, modern, and digital gallery sections, annual artist commissions, and year-round collector and education programs. It has established itself as a regional cultural hub and an increasingly important meeting point for the art world in the Global South. Over the past decade, Dubai has experienced rapid growth, and Art Dubai now attracts top collectors and institutional audiences from the UAE, the region, and internationally.
The fair is held in partnership with A.R.M. Holding and has gained sponsorship from Julius Baer, a Swiss Wealth Management Group. HUNA, a culturally-rich developer and partner of Art Dubai, also provides support to the fair. The Dubai Culture & Arts Authority serves as the fair’s strategic partner, and Madinat Jumeirah offers a stunning venue for the event.
Looking ahead, Art Dubai’s 2024 edition is scheduled to take place at Madinat Jumeirah from March 1-3, with previews on February 28 and 29. The fair continues to grow in stature and importance, solidifying Dubai’s position as a global destination for art and culture.
