In today’s world, more than ever before, people are turning their thoughts, imaginations and ideas into jobs and careers. This is why the creative economy is being considered the new engine of the 21st century. It is the fastest growing sector of the global economy and alone contributes about 3 percent of global GDP.
Creativity is a resource that never ends. It is neither limited to a particular area nor to a particular class. We can see it everywhere – whether it is the craftsmanship of a village, an art gallery in a city, a youth’s startup idea or a local design studio of a woman entrepreneur.
Today, when the whole world is grappling with challenges like climate crisis and pandemic, the power of the creative economy has become even more important. It not only paves the way for economic development but also human-centric and inclusive development.
Why is the creative economy the “industry of the future”?
In simple terms, the creative economy is a group of industries and activities that are based on imagination, knowledge, art and innovation. It includes art, music, film, drama, literature, fashion, design, digital media, gaming, animation, tourism and even traditional handicrafts.
Examples include:
- India’s Bollywood earns billions of dollars not only in the country but all over the world.
- Korea’s K-Pop industry is attracting youth all over the world today and doing business worth billions of dollars.
- Japan’s anime and manga also remain a big force for both culture and economy.
That is why experts say that “Creativity is the industry of tomorrow” i.e. creativity is not the industry of tomorrow but of the future from today itself.
International recognition – 2021 declared as special year
In the 74th session of the United Nations General Assembly (UNGA), the year 2021 was declared as the “International Year of Creative Economy for Sustainable Development”.
It was led by the United Nations Conference on Trade and Development (UNCTAD), with support from UNESCO and other UN bodies.
The purpose of this declaration was to remind the world that the creative industry is not limited to entertainment or art, but it makes a significant contribution to employment, innovation and sustainable development (Sustainable Development Goals – SDGs).
Impact COVID-19 on and creative industries
When the pandemic arrived, the whole world came to a standstill. The most profound impact of this crisis was also on the creative industries.
- Film production stopped, cinema halls became empty.
- Music concerts, theatres, dance shows, art exhibitions – everything stopped.
- Lakhs of artists, technicians, designers and cultural workers lost their livelihood.
While employees in other sectors received social and economic assistance, artists and cultural professionals could not get help in most places.
Yes, we watched more movies, web series, music and content on digital platforms than ever before. But the truth is that the creators who made those content got very little income from our clicks and views.
Still, the pandemic made us realize how important creativity is to our lives. When the whole world was in lockdown, people found relief, courage and hope in movies, music, dance and stories.
Creative economy and the future of youth
According to a UNESCO report, this sector earns 2250 billion US dollars (about 2.25 trillion USD) every year. The most important thing is that it provides the most employment to youth between the ages of 18 and 25.
Meaning, if new employment possibilities are created in the coming times, a large part of them will come from creative industries.
- Some youth can make a career in game development.
- Some in music production, design or digital marketing.
- Some in fashion and textiles to photography and film making.
That is, creative industries are becoming the biggest door to employment for the youth.
UNESCO’s role and commitment
UNESCO is the only United Nations institution with a special mandate on culture. Therefore, it is its responsibility to connect culture and creative economy to the global sustainable development agenda.
UNESCO’s three fundamental principles
Creating a creative ecosystem
An environment should be created for artists and creators where they can advance their careers. It should have good income, secure jobs and growth prospects.
Policy reform and review
Governments and leaders should make concrete policy reforms in areas such as employment, social security, digital transition, intellectual property rights, education and gender equality.
Data & Consultation
Workers associated with the industry, especially women and young artists, should be talked to and correct data should be collected so that policies can show impact at the ground level.
Why is investment and support necessary?
If creative industries get the right support, they can not only contribute billions of dollars to the economy but can also change the world at a social and cultural level.
- Protection of cultural identity – Heritage such as folk art, traditional music and handicrafts will be preserved.
- Inclusive growth – women and youth, new opportunities will be found, especially in rural and marginalized communities.
- Fulfillment of Sustainable Development Goals (SDGs) – The creative economy is directly linked to education, employment, equality and sustainable development.
Conclusion
The creative economy is not just an industry but a new development model. It shows us how imagination, art and innovation can lead to economic, social and cultural development.
The pandemic may have hurt it, but it also taught us that creativity is essential to our lives and society.
That is why it is important that governments, international institutions and private companies work together to provide artists, creators and cultural professionals with the right opportunities and support. Only then will the creative economy be able to build a truly inclusive and sustainable future.
