Abu Dhabi launches fund to boost events

Abu Dhabi launches fund to boost events

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The Department of Culture and Tourism – Abu Dhabi is launching an incentive scheme to develop content and program collaboration with the private sector to build on the already established annual calendar of vibrant and diverse events, and drive inbound tourism growth.

 

Already home to more than 800 events including spectacles such as the Formula 1 Etihad Airways Grand Prix, the Abu Dhabi Food Festival, Abu Dhabi HSBC Golf Championship and the Abu Dhabi Classics international concert season, the tourism body is now incentivizing international, regional and local companies to build on this success and further enhance the events program.

 

Creating an even denser consolidated calendar of events, including Abu Dhabi’s rapidly expanding MICE sector, is a key strategy of the Department, while simultaneously leveraging the use of world-class venues and facilities across the emirate, in a bid to attract even more visitors to explore Abu Dhabi and its tourist proposition.

 

Led by the Department’s Events Bureau, the Advantage Events Abu Dhabi initiative is being introduced to boost the emirate’s appeal as a thriving tourism destination by funding leisure and entertainment events driven by the private sector to support existing businesses, and also encourage new events to be introduced.

 

It is expected that both domestic and foreign companies looking to expand their footprint in the region will be the most likely to take advantage of the new Abu Dhabi scheme delivering events with proven tourism appeal and positive growth potential.

 

Major long-term objectives for the incentive scheme include initiating public and private sector partnerships to develop recurring events around the emirate; develop content and program collaboration with existing and new festivals, and to also increase the appeal of existing events by adding value to the audience experience. The new scheme will also encourage curation of content and programs for sustainable and multi-disciplinary event concepts.

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HE Saif Saeed Ghobash, director general, department of culture and tourism – Abu Dhabi, said: “Increasing our portfolio of annual events is a key pillar of the Department’s strategy of enhancing the emirate’s appeal as a destination and encouraging more tourists to visit Abu Dhabi and to stay longer in our hotels. By incentivizing private sector involvement in developing a range of events 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 initial funding set aside for successful applications is USD 2.7 million, with further tranches being made available as the multi-phase scheme evolves and progresses. The new incentive grant is open to all entities involved in the retail and events industry, venues and IPR owners.

 

The first phase of the initiative is now open for applications and runs until 31 December 2017 this year. Applicants are asked to submit a three-year business model including the concept, marketing approach and feasibility studies.

 

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