Building a World-Class Performing Arts Institution
Market Overview and Opportunities in the Middle East
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noviembre 05, 2024
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The Gulf Cooperation Council (‘GCC’) has significantly increased investment in cultural and creative industries recognizing the broad social and economic returns, such as enhanced quality of life, stronger cultural identity and elevated global standing. Large-scale projects are under way—including national theaters, cultural complexes and film cities—especially in Oman, the UAE, Saudi Arabia and other Gulf states, where these industries are contributing up to around 4 percent of GDP. Performing arts in the region are gaining momentum through hosting international festivals, launching performing arts academies and construction of new venues, demonstrating their potential to spur urban revitalization, stimulate cultural ecosystems and generate employment opportunities.
However, realizing this potential requires building strong institutional foundations rather than relying solely on physical assets. Many institutions face challenges such as heavy dependence on subsidies, a lack of grassroots engagement, underdeveloped talent systems, minimal innovation in technology and limited local content creation. To overcome these hurdles institutions must strategically define their purpose by addressing core questions around programming philosophy, audience targeting, operating and producing models, revenue streams and socio-economic impact.
Our team has analyzed these dynamics and can support clients in framing the opportunity, crafting a strategic position, designing operating and business models, activating audiences, building implementation roadmaps and translating vision into action for high-impact performing arts institutions.
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Publicado
noviembre 05, 2024
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Senior Managing Director, Global Co-Leader of FTI Delta
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