The Middle East is positioning itself as a vibrant hub of innovation and opportunity at a moment in time when the global creative economy is poised for exceptional growth.

According to Deloitte's report, "The Future of the Creative Economy," this sector is expected to outpace the wider economy, potentially growing by 40% by 2030 and creating over 8 million new jobs worldwide.

The region's cultural and creative industries are on an upward trajectory, generating $58 billion in revenue and employing 2.4 million people.

Countries like Saudi Arabia, the UAE, and Egypt are at the forefront of this transformation, investing in cultural megaprojects to diversify their economies and reap the benefits of a thriving creative sector.

The gaming industry in the Middle East is a great example of growth, with an estimated $3.4 billion in sales in 2021, representing a 19% year-on-year increase.

Additionally, the region's cinema industry is expanding, with the number of screens expected to rise from 2,100 in 2021 to 3,100 by 2024, largely driven by Saudi Arabia's growth.

Creative industries serve as a powerful political and diplomatic tool, fostering cultural exchange, promoting national identity, and enhancing international relations. Creative expressions, such as fashion, film, music, literature, and art, act as a bridge between cultures, promoting mutual understanding and appreciation.

For instance, Saudi Arabia just announced the Esports World Cup 2024. This initiative not only establishes Saudi Arabia as a global hub for esports but also exerts a magnetic pull on tourism, investments, and talent.

Creative leaders in the Middle East therefore represent a new class of business people. They possess the unique ability to harness the intrinsic potential of the region and can propel the Middle East's creative economy to unprecedented heights.

For further insights, explore Deloitte's report on "The Future of the Creative Economy" here

Creatives are more than pretty faces, don't you agree?

Julián Hernández
Partner - Executive Creative Director @ Consulum | Government Advisory Innovator | Servant Leadership EnthusiastPartner - Executive Creative Director @ Consulum | Government Advisory Innovator | Servant Leadership Enthusiast

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