How the creative industries can boost the global economy | World Economic Forum (weforum.

org)

How the creative industries can boost the global economy | World Economic Forum (weforum.org)

Creative economic activity has a positive impact on development: because people’s creative
skills are often rooted deeply in culture, traditions and history, creative industries do not only
have an impact on economic development but are strongly linked with social, cultural and
sustainable development, with creative workers being “enablers, as drivers of more inclusive,
sustainable and meaningful development” (Bokova 2013).

The integration of the creative industries into the economic rationale of nations is particularly
challenging in the context of mixed economies, as the role of creativity as a driver of growth is
often underestimated or ignored. In the context of the global south, and their cities of the future;
(which anchor the majority of many sovereign economies), the creative sector can play a radical
role in the stabilisation of local economies from external shock as well as developing cultural
dialogue and social cohesion. The recent discursive development of STEM (Science Technology,
Engineering and Mathematics into STEAMD (Science Technology, Engineering, Art,
Mathematics and Design) is helping governments to steer their planning ethos into more
sustainable forms of socio-economic investment.

The creative industries are a critical component of the value chain of almost every single
product, from commodities to financial services, providing entertainment, and functionality. The
mixed economies of many African cities are reliant in some form or another on the creative
industries; sometimes captured in the goods and services of the so-called informal economy to
the more complex value chains of multi-national corporations or business flows in terms of
fashion, craft and textile production, to gamification and information technology. The narrow
definitions of creative as pertaining to “art and craft,” has rightfully evolved into a much richer
tableau of creative endeavour and enterprise, not just in South Africa, but in many other
countries.

As hosts of the World Economic Forum of Africa 2015, South Africa has two recent creations of
interest, the new ministry of small business development, and the Cultural and Creative
industries Federation of South Africa, which demonstrate a commitment to this “new economy.”

There are a range of other bodies and events which have maintained a critical role in bringing
attention to the role of the creative industries, however these two interventions bring a new level
of state investment into the creative industry ecosystem and are a sign of a maturing economic
rationale.
However South African creatives will rightly argue that legislation and financial markets in their
current form are far from enabling for small/creative enterprises, there is a dearth of investor
capital for innovation, and rigid labour market practices prohibit the flexibility of business
models to adequately respond to change and opportunity.

Big Business simply does not, “get,” creativity as a value add in commerce, and when most
corporations downsize; design, marketing and creative units are often the first to be culled.

In similar fashion, the weak mixed economy of South Africa and the technocratic limitations of
the civil service often leave the private sector the only agent of change in responding to the
impetus of the creative sector. However; liberal markets are not the panacea of economic
development in the context of weak governance and increasing urban inequality and the
inevitable rise of slum cities.

The impact journeys into Cape Town; itself an attractive city but blighted by underinvested
slums on the periphery as a direct outcome of Apartheid, offered a rapid immersion into the
texture of the city, its urbane contradictions of excess and privilege, whilst locating creativity at
the core of the discussion.

Several exercises with the Young Global Leaders were undertaken to mark this immersion. At
the outset, a series of brief introductory presentations into the challenge of creativity and
economic development in the context of Cape Town as an emerging global creative capital were
undertaken.

This was then followed up by a 40-minute interactive entrepreneurial game, “Out the Box,”
which asked participants to create and pitch for a new business opportunity in Woodstock, Cape
Town that would address the challenge of local job creation, combat gentrification and use
creativity as its core signifier.

The participants were further broken into several core teams to create intimate and open ended
artefacts to unlock their inner creativity, to address a key societal challenge. Whilst Ubuntu as a
philosophy is notoriously difficult to define the manifestations of it in the creative industry are
the most encompassing and showcase how an idea can truly change the world people live in.

Within hours #CreateAFRICA was trending in South Africa! The exercises encouraged an
engagement with the nature of Cape Town as a secondary city seeking to articulate a global
position in the creative sector, and in so doing allowed for a diverse and fun entry into the
broader socio- economic challenges to be addressed in the days that followed. It was particularly
resonant to have been able to host the workshop in Woodstock because it is a great example of
an area within a city which has been able to lift itself through its creative capital.
How the creative industries can boost the global economy | World Economic Forum (weforum.org)
Introduction
The creative industries are attracting growing attention across the world, as they are increasingly
seen, not only as important economic sectors in their own right, but also as one of the drivers of
economic growth and productivity across the economy as a whole. In the UK, as in many other
countries, the creative industries are growing faster than almost any other sector of the economy.
The Creative Productivity Index recently published by the Asian Development Bank finds that
lowand middle-income economies in particular will benefit from policies to increase creative
inputs.
UNESCO’s 2013 Creative Economy Report refers to creative industries as “forms of cultural
production and consumption that have at their core a symbolic or expressive element” (p. 20).
Jobs in the creative industries are economic “activities involving cultural creativity and/or
innovation” (p. 21). The creative industries are a powerful means to take on the “new
development pathways that encourage creativity and innovation in the pursuit of inclusive,
equitable and sustainable growth and development” (p. 15).
Creative economic activity has a positive impact on development: because people’s creative
skills are often rooted deeply in culture, traditions and history, creative industries do not only
have an impact on economic development but are strongly linked with social, cultural and
sustainable development, with creative workers being “enablers, as drivers of more inclusive,
sustainable and meaningful development” (Bokova 2013)

UNESCO 2013. Creative Economy Report. Paris: UNESCO. http://www.unesco.org/culture/pdf/creative-

economy-report-2013.pdf

Culture, Creativity and Education 2012. Progression in Creativity: Developing new Forms of Assessment.
Nottingham: CCE. http://www.creativitycultureeducation.org/progression-in-creativitydeveloping-new-
forms-of-assessment
IMPORTANCE
Why creative industries are important? The creative industry can contribute to
economic growth through the creation of a wide variety of jobs. When there is
training and development being offered there will be a shift in the mindset of the
participants and this will result in people investing more in this sector.

Why is the creative industry important? Creative industries are those based on individual
creativity, skill and talent, or which have the potential to create wealth and jobs through the
development or production of intellectual property. Together they make an important
contribution to our national wealth and international reputation.

Why is creativity important for industrial development? By employing creativity,

countries turn away from economic, political or natural restraints, so proper recruitment of
creativity holds a competitive advantage in the global marketplace for smaller and less
developed countries (Creative industries Development, 2004).

How does creative industries contribute to the creative economy? Essentially it is the

knowledge-based economic activities upon which the ‘creative industries’ are based. Today,
the creative industries are among the most dynamic sectors in the world economy providing
new opportunities for developing countries to leapfrog into emerging high-growth areas of
the world economy.

Why creative industries are important? – Related

Questions
What is the importance of creative economy?

“The creative industries are critical to the sustainable development agenda. They stimulate
innovation and diversification, are an important factor in the burgeoning services sector,
support entrepreneurship, and contribute to cultural diversity,” she said.

Why are the cultural and creative industries important?

The cultural and creative sectors are considered the forerunners of new dynamic forms of
economic activity. As the society moves from being an industrial society to an intellectual
one, the creative approach to solving tasks is becoming an important factor of
competitiveness.

What do you understand by creative industries?

The creative industries refers to a range of economic activities which are concerned with the
generation or exploitation of knowledge and information. They may variously also be
referred to as the cultural industries (especially in Europe (Hesmondhalgh 2002, p.
What does the creative industry include?

The term ‘creative industries’ describes businesses with creativity at their heart – for
example design, music, publishing, architecture, film and video, crafts, visual arts, fashion,
TV and radio, advertising, literature, computer games and the performing arts.

What is the role of innovation and creativity in industry?

Creativity and innovation helps develop new ways of improving an existing product or
service to optimize the business. This also allows entrepreneurs to think outside the box
and beyond the traditional solutions. Through this opportunity new, interesting, potential yet
versatile idea come up.

Why the idea of creative economy is widely used in urban economies?

Creative economies are more commonly found in market-based economies where they can
benefit from intellectual and artistic freedom, lack of censorship, access to knowledge,
availability of private capital, and the freedom to set market prices and where the population
is able to exercise their own choice in terms of

Why should people creative?

Creativity allows us to view and solve problems more openly and with innovation. Creativity
opens the mind. A society that has lost touch with its creative side is an imprisoned society,
in that generations of people may be closed minded. It broadens our perspectives and can
help us overcome prejudices.

Is the creative industry growing?

The United Nations Development Programme and the United Nations Educational,
Scientific and Cultural Organization tout the creative economy as “one of the most rapidly
growing sectors of the world economy.

What is the most important issue facing cultural and creative industries
today?

Various independent studies, in particular the study on the entrepreneurial dimension of

cultural and creative industries, show that the cultural and creative sectors are facing
common challenges, namely the rapid change caused by the digital shift and globalisation,
market fragmentation relating to linguistic

What is the cultural importance of the creative industries to the UK?

Arts and culture play an important role in supporting the UK’s wider commercial creative
industries, such as film production, advertising, design and crafts, and showcasing the
country’s creative talent overseas. The arts and culture sector has an important benefit on
health and well-being.

What is the cultural and creative industry?

The cultural and creative industries refer to those parts of the modern economy where
culture is produced and distributed through industrial means, applying the creativity of
individuals and groups to the generation of original cultural product, which may have
commercial value either through direct sale to consumers or

What is creative industry management?

Creative industries management is about strategic management skills which include design,
operation, financial, marketing, organization, innovation and change. The ability to innovate,
design and develop a range of creative projects from practices through to production.

Why do we need a creative economy in Malaysia?

The creative industry has all it takes to enkindle income to the country, provided it is well
tapped. Malaysian talents are sourced for various digital and technology-related industries,
especially in the international film industry, thanks to efforts by agencies like the Malaysia
Digital Economy Corporation (MDEC).

What is creative art industry?

The Creative Arts industry is not only about music and performing arts but covers other
sectors such as cultural and natural heritage, visual arts and crafts, books and press, audio-
visual and interactive media, and design and creative services.

Why is creativity important for innovation?

Creativity goes hand in hand with innovation. Creativity improves the process of solving
problems. It doesn’t matter if we’re talking about developing a new strategy or an innovative
way to stay ahead of the competition. Creative problem solving gives that competitive edge
that any business is striving to achieve.

Why is creativity and innovation important?

While creativity is the ability to produce new and unique ideas, innovation is the execution of
that creative ideas. When properly fostered, creativity and innovation create inventive
problem solving for your business or your audience. Creative and innovative problem
solving can make your company run more efficiently.
13 Examples of Creative Industries - Simplicable

When did creative industries start?

The concept of creative industries was first documented in 1994 in Australia when the
government released their new cultural policy “Creative nation”, designed to help Australia
to embody new IT opportunities and the growing wave of global culture enabled by digital
media.

What is the largest creative industry?

Television is the largest sector with $477 billion in revenue, followed by visual arts and
newspapers and magazines. Together, these three sectors account for over $1.2 trillion in
global revenue, and roughly half (around 54 percent) of the total for the creative economy
worldwide.

Why creativity is the most important skill in the world?

The most important thing creativity leads to is new thinking. If you can use your imagination
to see problems differently, to see ideas differently you will come up with solutions that
nobody else has thought of. 2. Creativity can lead to more positivity.

Why creative learning is important?

Creativity motivates kids to learn.

Decades of research link creativity with the intrinsic motivation to learn. When students are
focused on a creative goal, they become more absorbed in their learning and more driven to
acquire the skills they need to accomplish it.