Having already become home to the Louvre’s first international outpost in 2017, Abu Dhabi is doubling down on its ambition to become a global cultural attraction. The city announced this week that it is setting aside a whopping $6bn (€4.9bn) to invest in the construction of more museums as well as projects from media to music. Among other things the funding will build on plans to create a “cultural district” on Saadiyat Island, which is already slated to host the Guggenheim Abu Dhabi, the Zayed National Museum and two other venues. It’s all part of a broader effort to diversify the national economy, which is heavily geared towards oil. Given that the UAE relies on petroleum for about 30 per cent of its GDP, a shift towards a non-exhaustible resource is essential: and with such a handsome budget, opting for the creative industries is a timely investment.
Source: Monocle / Cover Image: Architectural Digest