Creative industries: The key to economic and spiritual prosperity

• Reflecting rapid technological developments, the creative economy has enjoyed rising prominence, transforming individual and collective creativity into a source of material and spiritual wealth and prosperity.
• The essence of creative cultural industries is human creativity itself – the ability to generate original, unique ideas.
• The creative economy is now a vital component of the global economy; according to UNESCO, global revenue from creative industries amounted to some 2.25 trillion dollars in 2018.
• Countries around the world recognize the importance of creative industries and intellectual capital as sources of GDP and engines of economic growth.

• The Kingdom of Saudi Arabia and the United Arab Emirates lead the Arab countries in encouraging creative and innovative industries.
• Creative products are born of the initiatives and strategies of forward-thinking countries, such as Saudi Arabia’s Vision 2030, which calls for US $2 billion in investment to develop the cultural tourism sector.
• In April 2021, Dubai launched its Creative Economy Strategy to nurture growth and prosperity in the creative sector, with a plan to double its contribution to GDP from 2.6% at end-2020 to 5% by 2025.
• Neglecting to support the creative economy is no longer an option. Supporting creative industries has become a necessity for those countries seeking to make their mark as innovative global pioneers.