MENA Design industry valued at $100b in 2014
The design industry’s Middle East and North Africa market value stood at $100 bln in 2014, contributing 1.5 percent to the region’s GDP
The design industry’s Middle East and North Africa market value stood at $100 bln in 2014, contributing 1.5 percent to the region’s GDP, a study commissioned by the Dubai Design and Fashion Council (DDFC) concluded on Tuesday.
While the contribution to the region’s GDP is still behind global numbers, the MENA Design Outlook report said there is “room for growth and production opportunities.”
“If you look at fashion, architecture, and interior design, [these industries] are punching above their weight in terms of their contribution to GDP in this region when compared to other markets globally,” Emmanuel Durou, technology, media and telecommunications partner at monitoring firm Deloitte, which conducted the study, told reporters in the Dubai Design District on Tuesday.
“The MENA Design Outlook provides us with a snapshot of the current status of the market and identifies key challenges and opportunities,” Chairwoman of DDFC Dr Amina Al Rustamani, who gave the keynote address at the unveiling of the report, said.
The UAE and Saudi Arabia are the largest design markets in the region, totaling $27.6bn and $21.9bn respectively in design revenues in 2014.
The report placed Qatar and Egypt as third and fourth largest.
“Saudi Arabia and Qatar are the fastest growing design markets in the region, having respectively experienced between 2010 and 2013 a growth rate of nine percent and 11 percent,” the report said.
Authors of the report found the design sector to be growing at an average rate of six percent, twice the pace of the global design sector. The report predicts its contribution to the global design sector will reach 5.2 percent by 2019.
“Undoubtedly, the UAE plays a vital and leading role and is committed to supporting other countries in the region and contribute, in various ways, to its development and prosperity,” Al Rustamani said.
“We at the Dubai Design and Fashion Council are constantly striving to provide the necessary platforms to develop the design sector and foster up and coming talent in Dubai and the region,” she added.
The Dubai Design and Fashion Council is a state-funded body that was set up to “steer design initiatives and position Dubai as the emerging design capital of the world.”