The first ever (3)

The first ever global map of cultural

and creative industries

Compared to more traditional industries, Cultural and Creative Industries (CCI) are often only partially described and generally misunderstood or undervalued, creating challenges in understanding their economic weight in both mature and emerging economies.

To address this, the International Confederation of Societies of Authors and Composers (CISAC) recently commissioned EY to complete a global study of the economic and social impact of CCI that builds on UNESCO’s definition of CCI.

The study, Cultural Times: The First Global Map of Cultural and Creative Industries, highlights that CCI generate US$2,250 billion of revenues (3% of world GDP) and 29.5 million jobs at the global level. It identifies North America as having the third largest CCI behind Europe and the Asia-Pacific, with revenues of US $620 billion (28% of global revenues) and 4.7 million jobs (16% of total jobs). In general terms, the North American market is driven by leading cultural and entertainment players in areas of TV, movies and radio; however, Canada was singled out as an international benchmark for game development, as well as its commitment and success in the music industry. Canada and the US are seen as being at the forefront of CCI’s digital transformation with the largest number of consumers of digital cultural content.

The report also evaluates the impact of cultural and creative workers. For economic development professionals focused on how to support the growth and expansion of their local economies, there are a number of qualities that speak to the value of attracting and retaining CCI business investment. CCI are also seen as playing a significant role in the urban development or place-making of cities and towns. Collectively and individually these activities are seen as the components necessary for forging both a local and global identity for a community that in turn attracts the investment, workers and visitors needed to sustain economic growth

This post first appeared in TINAN 68. Subscribe to TINAN for the latest economic development news and resources.