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  • CREATIVE INDUSTRIES: AN ENGINE FOR GROWTH

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    Creative Industries: An Engine for Growth

     

     
     
    International Trade Forum - Issue 3/2009

    What are creative industries? There are differing views and much scepticism about which goods and services have been grouped into this new classification. There is no doubt, however, that modern technology has transformed delivery of services and created business models that do not charge customers, such as Google and Facebook, but which have generated huge wealth for their creators. There is no doubt either that the design industry is having a massive impact on how cultural heritage and tradition are transformed into products ranging from household goods and fashion items, to solutions for health care and new media and entertainment.

    In this edition of Trade Forum we explore the potential of creative industries in developing countries. Through contributions from a diverse range of international commentators, we look at issues including the impact of globalization, technology and digitization, and the promotion and financing of creative industries in emerging economies. We also look at the opportunities that have been created through engagement with the corporate sector and creative industries, such as film and fashion, in developed countries.

    A recent study by UNCTAD estimates that the value of world exports of creative industry goods and services reached US$ 424.4 billion in 2005 and accounts for 3.4 per cent of world trade, with an unprecedented annual growth of 8.7 per cent in the period from 2000 to 2005.

    What is clear is that technology is creating new opportunities for economies in both the North and the South, and countries will need the right policy mix and strategies to optimize the job- and wealth-creating opportunities that they present.