In recent times there
have been numerous reports about the relevance of the creative industries to
the development of National economies.
It has been reported that world trade in
creative goods and services is one of the fastest growing sectors of the global
economy, doubling from 2002 to 2011, when it reached a record of US$ 624
billion. At the same time, developing countries averaged 12.1 per cent annual
growth in the export of creative goods and services.
According to United Nations Development Programme (UNDP) Administrator, Helen Clark, “The cultural and creative industries are important engines of economic growth. They generate jobs and income and contribute to individual and community well-being in both developed and developing economies”
According to United Nations Development Programme (UNDP) Administrator, Helen Clark, “The cultural and creative industries are important engines of economic growth. They generate jobs and income and contribute to individual and community well-being in both developed and developing economies”
In Africa, the creative
industries have experienced immense growth in the past decade. An October 2013 Business Day article reported, Oby
Ezekwesili, the former Minister of Education and former Vice President of the
World Bank, Africa, as valuing Nigeria’s creative industry potential at over N5
trillion with annual turn-over of over N500 billion- indicating that it could
be a bigger asset than the country’s oil industry.
With all of the optimism
being expressed, the potential of the creative economy is not without its challenges.
In this post, I aim to highlight some options for tackling the challenges
facing the creative industries; before that though, just in case you’re wondering
“What, exactly are the creative industries?” and “Why are they important?”