Wider Role
As some first world countries struggle to compete in traditional markets such as manufacturing, many now see the creative industries as a key component in a new knowledge economy, capable perhaps of delivering urban regeneration, often through initiatives linked to exploitation of cultural heritage that leads to increased tourism. It is often argued that, in future, the ideas and imagination of countries like the United Kingdom will be their greatest asset; in support of this argument, a number of universities in the UK have started to offer creative entrepreneurship as a specific area for study and research. Indeed, UK government figures reveal that the UK's creative industries account for over a million jobs and brought in £112.5 billion to the UK economy (DCMS Creative Industries Mapping Document 2001), although the data sets underlying these figures are open to question.
In recent years, creative industries have become ‘increasingly attractive to governments outside the developed world’. In 2005, the United Nations Conference on Trade and Development (UNCTAD) XI High Level Panel on Creative Industries and Development commissioned several studies to identify challenges and opportunities facing the growth and development of creative industries in developing industries. As Cunningham et al. (2009) put it, ‘the harnessing of creativity brings with it the potential of new wealth creation, the cultivation of local talent and the generation of creative capital, the development of new export markets, significant multiplier effects throughout the broader economy, the utilisation of information communication technologies and enhanced competitiveness in an increasingly global economy’. A key driver of interest in creative industries and development is the acknowledgement that the value of creative production resides in ideas and individual creativity, and developing countries have rich cultural traditions and pools of creative talent which lay a basic foundation for creative enterprises. Reflecting the growing interest in the potential of creative industries in developing countries, in October 2011 a Ministry of Tourism and Creative Economy was created within the Indonesian government with well-known economist Dr Mari Pangestu appointed as the first minister to hold the position.
Read more about this topic: Creative Industries
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