Art Dubai exhibition delivers $39m boost, creates 23,500 hotel bookings.
Art Dubai has announced that the five-day event, held March 1 to 5 2023, delivered a direct economic impact of AED143m ($39m) to the city.
New figures revealed in an economic impact study by leading independent market research consultancy IPSOS also showed that the renowned art fair attracted 23,500 hotel nights bookings to the city.
The recently announced figures demonstrate a significant rise in economic impact, surpassing the most recent comparable data by more than 55 per cent (compared to AED92m in 2019).
Art Dubai economic impact
The 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 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 the city Culture and Arts Authority, said the emirate is experiencing a 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.
They said: “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.
“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 report further underline the importance of world-class cultural programming in attracting people worldwide to this unique city.”
Benedetta Ghione, Executive Director, said: “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 past two decades, reinforcing our unique position in the art market and continuing to push the boundaries of what an art fair can do.”
The major art event 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, it 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 past 10 years, and the fair now welcomes top collecting and institutional audiences from the UAE, the region and internationally.
The event, 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. The Culture and Arts Authority serves as the fair’s strategic partner, and Madinat Jumeirah provides a stunning venue for the event.
The 2024 edition will take place at Madinat Jumeirah from March 1 to 3, with previews on 28 and 29 February.