Visitors at Art Dubai held in March this year. Image Credit: Supplied

Dubai: Art Dubai, held in March this year, delivered a direct economic impact of Dh143 million to the city, it was revealed on Sunday.

The art fair, held between March 1 and 5, also generated 23,500 hotel nights bookings.

The figures were revealed in the ‘Economic Impact Study’ by market research consultancy IPSOS.

The 2023 edition was Art Dubai’s most successful to date, featuring over 130 contemporary and modern exhibitors from more than 40 countries and the strongest-ever participation of regional and international institutional representatives.

The figures demonstrate a significant rise in economic impact, surpassing the most recent comparable data by over 55 per cent (Dh92 million in 2019).

Hala Badri, Director General of Dubai Culture and Arts Authority, said: “At Dubai Culture, we are keen on supporting the cultural and arts sector in the emirate by adopting innovative methods capable of attracting talent and art enthusiasts, in addition to providing creative platforms that allow artists to express their ideas and expand their creative contributions that enrich Dubai’s art scene. The remarkable successes achieved by the 16th edition of the Art Dubai exhibition reflect Dubai’s global position as a vital hub for artistic and creative events.

“Art Dubai has matured and developed into a unique moment in the international art calendar, convening Dubai’s brightest and best cultural and artistic minds each year. The figures announced in the economic impact report further underline the importance of world-class cultural programming in attracting people worldwide to this unique city.”

Benedetta Ghione, Executive Director of Art Dubai, added: “The published economic impact data serves to underscore Dubai’s continued growth and development as one of the major cultural centres of the art world and the cultural capital of the Global South. 2023 was Art Dubai’s most successful to date, and our 2024 edition will continue to build on the reputation we have nurtured over the last two decades, reinforcing our unique position in the art market and continuing to push the boundaries of what an art fair can do.”

Art Dubai’s 2024 edition will take place at Madinat Jumeirah on March 1-3, with previews on February 28 and 29.