Creative Economy Outlook 2015

UNCTAD has introduced the topic of the “creative economy” in the world economic and development agenda.

The creative economy is an emerging concept dealing with the interface between creativity, culture, economics and technology in a contemporary world dominated by images, sounds, texts and symbols.

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.

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Creative economy leverages creativity, technology, culture and innovation in fostering inclusive and sustained economic growth and development. Creative economy sectors include arts and craft, books, films, paintings, festivals, songs, designs, digital animation and video games. They generate income through trade (exports) and intellectual property rights, and create new jobs in higher occupational skills, particularly for small and medium sized enterprises. With advancement in technology especially the digital revolution, education and innovation, creative and knowledge-based industries have emerged as among the dynamics sectors of the global economy.

Creative economy’s contribution to inclusive development is gaining recognition and support at the national and global levels. In 2010, the United Nations General Assembly adopted a resolution on culture and development (A/65/438). In 2015, the United Nations General Assembly adopted an action plan on “Transforming our world: The 2030 Agenda for Sustainable Development” and in it, underlined appreciation for cultural diversity and cultures contribution, specifically in preambular paragraphs 8 and 36, and in sustainable development goals and targets 4.7, 8.7, 11.4 and 12.b.