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MENA vs Global Cinema Market Outlook 2019-2024
The COVID-19 pandemic had a profound impact on the entertainment and media landscape in the Middle East and North Africa (MENA), echoing its global repercussions, with overall cinema revenue decreasing threefold.
Despite this setback, the MENA cinema sector displayed remarkable resilience, bouncing back to pre-pandemic revenue levels in under three years.
Projections indicate a promising growth trajectory, with cinema revenues expected to achieve a compound annual growth rate (CAGR) of 4% between 2019 and 2024, reaching a milestone of US $1 billion.
This stands in stark contrast to the global cinema revenue, which is forecasted to fall short of pre-COVID levels, with a projected CAGR of -2.4% over the same period.
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Dubai’s Digital Economy and Its Expanding Startup Ecosystem
Dubai’s startup ecosystem will have raised over USD 2 billion by the end of 2022, with self-employed and digital economy roles tripling. Few MENA markets have a 20-year-old startup ecosystem birthing multiple unicorns. Dubai has been the digital startup hub for tech giants and new unicorns alike. Since 2017, Dubai has raised 96% of UAE’s funds, totaling over USD 2 billion by October 2022. LinkedIn data shows a booming digital economy job market with increasing opportunities and remote work options. Learn from top home-grown startups and global transplants why Dubai is poised to become the next digital economy capital of the world.
