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Tuesday, 8 June 2021

UAE turns to culture in latest move to diversify away from oil

UAE turns to culture in latest move to diversify away from oil: Abu Dhabi plans to pump USD 6 bn into cultural and creative industries over the next five years, in the emirate’s latest strategy to shift away from its reliance on oil and gas, a senior tourism official tells the Financial Times. Having already invested USD 2.3 bn into industry-related projects, the emirate will ramp up spending on cultural heritage, the arts, media, and architecture as it looks to boost cultural industries’ contributions to GDP.

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