Hollywood actor Idris Elba expressed his belief that the UAE has the potential to emerge as the next global hub for the film industry, akin to Hollywood’s historic rise in the early 20th century. Elba made these remarks during his appearance at the Investopia conference in Abu Dhabi on Wednesday, where he encouraged investors to consider the creative economy as a lucrative avenue for investment.
“The creative industry played a pivotal role in shaping America’s economy, culture, and values, particularly with the inception of Hollywood,” Elba remarked. “Similarly, the UAE can leverage the creative economy to reshape global perceptions of the region while fostering economic opportunities.”
Elba emphasized the immense potential of the film industry, highlighting both its risks and rewards. “Investing in films can yield significant returns,” he explained. “For instance, the Barbie movie by Mattel generated $1.5 billion in revenue, showcasing the profitability of strategic investments in entertainment ventures.”
Investopia, a platform aimed at facilitating investment opportunities within the UAE’s forward-looking economy, provided a fitting backdrop for Elba’s advocacy for the creative sector. Over the years, Investopia has attracted thousands of investors from diverse backgrounds, underscoring the growing interest in the UAE’s burgeoning economy.
Elba also shed light on the multifaceted nature of the creative industry, emphasizing its wide-ranging impact. “The creative ecosystem encompasses various sectors, from show business to fashion and equipment,” he elaborated. “Investors should recognize the diverse opportunities within this dynamic industry.”
In addition to discussions on the film sector, the Investopia conference explored alternative investment avenues, including sports. Tom Corbett, Group Head of Sponsorship and Media at Barclays, highlighted the enduring appeal of sports as an investment category, citing its global reach and engagement.
Giorgio Furlani, Chief of Italian professional football club AC Milan, echoed Corbett’s sentiments, emphasizing the reliability of investments in the sports sector. Furlani outlined his investment strategy, emphasizing the stability and growth potential of European and American sports leagues.
AC Milan’s recent establishment of its headquarters in Dubai underscores the increasing significance of the UAE market for sports organizations seeking expansion opportunities. Furlani expressed optimism about the club’s prospects in the region, citing its longstanding partnership with Emirates and the untapped potential of the UAE market.
As the UAE continues to diversify its economy and attract investments across various sectors, the creative and sports industries emerge as promising avenues for investors seeking growth opportunities in dynamic and resilient markets.
