Abu Dhabi aims to woo promoters with $3m incentive grant
The tourist board of Abu Dhabi has announced a fund of almost US$3m aimed at boosting private-sector involvement in the emirate’s events sector.
The fund, initially worth Dhs10m ($2.7m), forms part of Advantage Events Abu Dhabi, an initiative by the department of culture and tourism to “attract even more visitors to explore Abu Dhabi and its tourist proposition” by boosting the number of live events. It aims to add to the emirate’s existing calendar of more than 800 events, which includes the Formula 1 grand prix, Abu Dhabi Food Festival, Abu Dhabi golf championship and Abu Dhabi Classics concert season.
The grant is open to “all entities involved in the retail and events industry, venues and IPR [intellectual property rights] owners”.
“By incentivising private sector involvement in developing a range of events we can build on the record numbers of visitors choosing to explore the emirate,” says Saif Saeed Ghobash (pictured), director-general of the department of culture and tourism of Abu Dhabi.
“By incentivising private sector involvement … we can build on the record numbers of visitors choosing to explore the emirate”
“Private companies should be aware that we now have a grant to support their business investments in Abu Dhabi and can anchor the planning of their 2018 business activities as we enter into the last quarter of 2017.”
The scheme follows a similar fund made available to film producers, which led to Hollywood blockbusters Star Wars: The Force Awakens and Furious 7 being partially filmed in Abu Dhabi.
Saudi Arabia last month announced a fund of its own, also worth around $2.7bn, in a bid to attract international partners to grow its live entertainment output.
IQ’s most recent Middle East feature revealed live music contributes a greater share of music industry revenues in the Middle East and North Africa than elsewhere in the world: 90%, compared to around 65% worldwide.
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