Role of Philanthropy in the Creative Economy

The Pearl Initiative, a non-profit organisation dedicated to advocating corporate governance in the region, partnered with us to co-host an insightful panel discussion on the “Role of Philanthropy in the Creative Economy” at Ivy’s Secret Garden in Dubai. The event is part of ADMAF’s renowned “Riwaq Al Fikr” series designed to engage the public through inspiring dialogues with influential thinkers across the region. The gathering brought together a diverse group of experts and leaders from the art, philanthropy, and cultural sectors, as well as professional individuals passionate about community development, with philanthropy being a driver to sustainable growth and innovation in the arts, and the broader societal well-being.

Bendetta Ghione, Executive Director at Art Dubai, highlighted the role of philanthropy in supporting arts, not merely as a financial investment, but as a strategic decision with the power to shape and enrich the future. She stated, “At Art Dubai, we are committed to supporting local cultural ecosystems, championing artistic voices from less-represented geographies, and providing an important gateway for discovery, learning and exchange. Philanthropy has always been an important facilitator for our goals since we first launched in 2007, enabling us to foster positive impact for our community.  Through a number of business and governmental partnerships, we deliver extensive and long-term initiatives that cultivate the next generation of cultural leaders and support long-term growth of the UAE’s cultural sector.”

During the session, speakers emphasised that philanthropy is not only essential for filling critical funding gaps but also for ensuring the sustainability of creative industries. They noted that philanthropic efforts have the potential to shape the future of the creative economy by supporting long-term growth and providing much-needed resources for artists and cultural organisations. Investing in arts and culture, they highlighted, goes beyond economic returns; it fosters creativity, encourages intellectual exploration, and enhances community engagement.

Anissa Punjani, Governance in Philanthropy Programme Manager at the Pearl Initiative, commented: “Philanthropy is a key driver of innovation and sustainability in the creative sector, and the Pearl Initiative is proud to support efforts that bring impact and transparency to philanthropic endeavours in the Arts. We strongly believe that by fostering key partnerships and championing good governance in philanthropy, we can create a strong foundation for the arts to flourish. Our goal is to create strategic, positive impact that resonates far beyond funding, contributing to a vibrant and sustainable creative economy”.

The discussion also touched upon the critical role of philanthropy in fostering youth engagement and innovation within the arts. By investing in educational programs that nurture creative talent, philanthropists can play an essential role in shaping the next generation of artists and cultural leaders. The panelists stressed the need for collaboration among philanthropists, artists, and institutions to ensure that the creative sector continues to thrive and evolve in response to emerging challenges and opportunities in the region.