The Creative Economy Is Booming. Why Aren’t Creatives?
The creative economy is booming. In many countries, such as Georgia and Mexico, the sector's total value — including music, gaming, film, museums, and the creative and performing arts — grew to nearly 3% of GDP.
Globally, there are estimates that it could be worth up to 10% of global GDP by 2030, according to G20 Insights. A lack of understanding on how these industries function as an economy are to blame, and artists most often lose out.
Many countries worldwide, from Oman to Kyrgyzstan and Moldova to Belize, are investing in tools and strategies to understand the impact of their creative economies, and alongside, multiple global conferences and reports demonstrate the value that artistry delivers to national exchequers.
In the private sector, the commercial successes of mainstream music and film since the pandemic restrictions were lifted have led to more concert tickets being sold than ever before and more bums in seats in movie theatres worldwide. People will travel internationally to see Taylor Swift, and we are seeing new laws, from Pakistan to the United States, introduced in Parliamentary chambers to support the development of the creative economy.
These are all reasons to be cheerful. As true in the art form itself as in policy, being talked about and having the attention of others is a mark of success on its own. However, advancing policies and turning them into systemic changes are not solely based on proclamations or stakeholder engagement.
Read the full Forbes article here
