The Role of Philanthropy in the Creative Economy and the Arts Panel Discussion

The creative arts and culture economy plays an integral role in society and is vital to the social and economic fabric of communities. A thriving cultural economy enhances people’s quality of life – through intellectual stimulation, creative expression, enriching perspectives, and opportunities for community engagement. However, the creative ecosystem often finds itself facing many challenges and limited by its resources, or lack thereof. Studies have shown that an estimated $14.6 billion has been lost by the sector in November 2020, as a result of the COVID-19 pandemic. Philanthropy can have a catalytic and transformative impact through providing much-needed funding, resources, and creative support that aids in building a cultural economy. Effective philanthropy has a substantial role to play in ensuring the sector continues to thrive and in contributing towards the broader social and economic well-being of society.

This panel discussion will convene industry thought leaders to explore the role of philanthropy in the creative arts and culture economy. Regional and local subject matter experts will unravel the benefits and returns of investing into social communities through art. The conversation will also highlight the invaluable contributions of philanthropists and their commitment to the UAE’s cultural and creative sector.