Economic impact of Dubai’s Art week events revealed

Ahead of the 10th edition of Art Dubai and the fifth edition of Design Days Dubai this March, the fairs' parent company, Art Dubai Fair FZ LLC (The Art Dubai Group), has released the results of an independent survey for Art Week 2015 (March 18-25, 2015).

The results of the independent study show the significant economic impact Art Dubai and Design Days Dubai events have on the local economy and service sector – totalling US $35 million across seven days.

The Art Dubai Group, a joint venture with the DIFC, is the partnership that owns and manages the region's most successful art and design fairs, festivals and programming, and offers its industry expertise to private and government institutions.

Produced by the independent research body Repucom, the report combines research and feedback from local and international art world professionals, gallerists and members of the public, and reveals substantial monetary contributions to the local cultural and tourism industries, and the impact these events have on the UAE.

As a direct result of Art Dubai and Design Days Dubai from March 18 to 25, 2015, the Economic Impact survey confirmed that US $35 million of new money in direct visitor spend came into Dubai through these two fairs alone. Visitors during Art Week paid for 27,500 hotel nights, with an average of 5.7 nights per stay. 25,000 visits were made to Art Dubai and Design Days Dubai over its six event days by 15,625 unique attendees. 51% of attendees were from outside Dubai, and 46% were ‘Primary Visitors' (i.e. Art Dubai and Design Days Dubai were the main reason for their trip to Dubai. Art Dubai and Design Days Dubai effected an estimated 6,000 art and design purchases.

In addition to the economic impact of Art Dubai and Design Days Dubai on the city, the report showed the company's umbrella event Art Week, launched by the Art Dubai Group as part of Dubai's Art Season, has great importance to the Dubai arts industry as a whole: As much as 60% of local art organisations' annual sales revenue was made during Art Week alone.

"Our research shows that the Art Dubai Group sets the standard for cultural events in the region, bringing significant social and economic benefits to Dubai," said Jon Long, Managing Director Middle East, of Repucom. "In addition, the survey revealed a 92% approval rating from attendees and 100% consensus from participating art organisations that Art Week makes an important contribution to their own success and Dubai's art industry in general."

Of the findings, Benedict Floyd, co-founder and CEO of The Art Dubai Group, said, "As we head into the tenth year of Art Dubai and the fifth edition of Design Days Dubai, we're delighted to be in a position to show the impact that our organisation has had as one of the major drivers of cultural development in the city. Drawing international attention for local arts organisations, galleries, home-grown partners and artists, Art Week, Design Days and Art Dubai have established a significant moment in the cultural calendar for the region, as well as recognition from the international art market."

Floyd added, "None of this would have been possible without the incredible support of our partners who have been with us from the beginning – in particular, the principal partners of Art Dubai, The Abraaj Group, who has been integral to Art Dubai's success, and Dubai Culture, who has supported the company's education and other not-for-profit programming."

Frederic Sicre, Managing Director at The Abraaj Group, commented, "Abraaj has always believed that a burgeoning art market is part and parcel of a healthy economy. Through its support of Art Dubai – and the Abraaj Group Art Prize – we hope to continue playing a key role in the promotion of art in the region and empowering talented artists from the same growth markets in which we invest."

Art Dubai 2016 will be the meeting point for over 500 artists from nearly 100 galleries, coming from 40 countries across the world. The fair will welcome thousands of gallery staff, museum professionals and curators to the city, as well as international attendees, media, artists; as well as regional and international thought leaders who will participate in the tenth edition of the Global Art Forum, Art Dubai's annual arts conference.

Returning for its fifth edition, Design Days Dubai is the Middle East and South Asia's only annual fair dedicated to collectible modern and contemporary design works. Positioned as a fair of discovery, this edition will feature a mix of the world's leading design galleries and studios, along with a record strong representation from the region: design from over 20 countries. Alongside the gallery programme, the fair presents a programme of special projects such as this year's ‘WASL' exhibition of design from the Emirates, talks, workshops and guided tours.
Source :WAM