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Art Dubai said to contribute $35m to local economy

Ahead of the tenth edition of Art Dubai and the fifth edition of Design Days Dubai later this month, an independent report has revealed that the events contributed $35 million to the local economy last year.

The report was commissioned by the Art Dubai Group, a joint venture with the DIFC, that owns and manages the art and design fairs, festivals and programming.

Produced by Repucom, the report combines research and feedback from local and international art world professionals, gallerists and members of the public, a statement said.

The Economic Impact survey also showed that visitors during Art Week paid for 27,500 hotel nights, with an average of 5.7 nights per stay.

It revealed that 25,000 visits were made to Art Dubai and Design Days Dubai over its six event days by 15,625 unique attendees.

More than half (51 percent) of attendees were from outside Dubai while Art Dubai and Design Days Dubai effected an estimated 6,000 art and design purchases, it added.

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, has great importance to the Dubai arts industry with as much as 60 percent of local art organizations’ annual sales revenue 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.

Benedict Floyd, co-founder and CEO of The Art Dubai Group, added: “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.”

Art Dubai 2016 will be the meeting point for over 500 artists from nearly 100 galleries, coming from 40 countries across the world.

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