Understanding the Contribution of Arts and Culture to the Local and Global Economies
Culture and arts cooperation plays a crucial role in driving economic growth and supporting sustainable development. It serves as a foundation for social unity and transformation, enhances regional pride, and fosters closer relationships and mutual understanding among communities. The creative economy, encompassing industries that rely on cultural expression and innovation, has gained recognition as a significant driver of economic resilience, social inclusion, international influence, and sustainable progress.
The Increasing Global Focus on the Creative Economy
Recent years have seen growing global acknowledgment of the creative economy’s potential. In 2021, the United Nations designated it the International Year of Creative Economy for Sustainable Development, highlighting its role in addressing social and economic challenges. This led the UN General Assembly to adopt two major resolutions in 2020 and 2023, aimed at improving efforts to measure and understand the impacts of creative industries on economies and societies.
The creative economy has also become a priority among policymakers in the G20, a group representing 80% of the world economy. It was featured in the G20 Leaders’ Declarations in both 2022 and 2023. Additionally, the establishment of the G20 Culture Working Group under India’s presidency in 2023 demonstrates how collaborative efforts can promote the creative economy as a vehicle for sustainable development, with emerging economies playing a leadership role.
In the ASEAN region, the creative economy is recognized in the ASEAN Comprehensive Recovery Framework and Vision 2045 as a key element in both immediate post-COVID-19 recovery and long-term economic transformation. This emphasis reflects the belief that creative industries not only contribute to economic growth but also provide a pathway toward a more resilient and inclusive future.
Cultivating a creative economy
As the creative economy becomes increasingly central to sustainable development across Asia and the Pacific, organizations like the Asian Development Bank (ADB) and the Asian Development Bank Institute (ADBI) are undertaking initiatives to support its growth. Their efforts focus on raising the sector’s visibility, developing skills and capacities among its diverse stakeholders, and strengthening the data and research needed to inform effective policy decisions.
The creative economy has demonstrated potential to drive youth employment, promote gender equality, and enhance social inclusion while fostering the growth of micro, small, and medium enterprises (MSMEs). Targeted programs and policies can amplify these benefits, particularly for marginalized communities. The sector is characterized by a diverse and vibrant range of participants and activities, which contribute to its adaptability and resilience in the face of economic challenges.
Sustainable transformation
The creative economy provides a unique opportunity to advance environmentally sustainable employment, adopt eco-friendly business practices, and develop innovative solutions essential for addressing climate change. As creative hubs in Asia and the Pacific continue to grow, the creative economy can play a key role in promoting sustainable development. This can be achieved by integrating renewable energy sources into economic activities, encouraging the production of environmentally friendly goods, and reducing dependence on industries with high environmental impact.
References:
Association of Southeast Asian Nations (ASEAN). 2021. Creative Economy. https://asean.org/wp-content/uploads/2021/11/The-ASEAN-Oct-Nov-2021-Digital-v1.pdf
UNCTAD. 2022. Creative Economy Outlook 2022. UNCTAD. https://unctad.org/publication/creative-economy-outlook-2022
UNESCO. 2023. Culture in the G20. 20 March. https://www.unesco.org/en/sustainable-development/culture/g20
Published on November 18, 2024.
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