THE CREATIVE ECONOMY: FACTS AND FIGURES

Diana Sava () and Alina Badulescu
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Diana Sava: University of Oradea Faculty of Economic Sciences

Annals of Faculty of Economics, 2017, vol. 1, issue 2, 127-135

Abstract: The creative economy is one of the most recent developments in the global economy, compared with global shifts such as globalisation or major structural changes. The emergence of the creative economy reflects this global change and the shift toward a tertiary economy, where creativity, cultural and scientific contribution of employed people are the most defining traits. In this paper, we are presenting, after brief theoretical insights, some figures revealing the place of creative sectors in the global economy, including an evolution of its contribution. Both exports and imports of creative goods and services have registered constant growing during the last years, and the value of exports surpasses the value of imports. Moreover, in the global trade, commercialising creative goods is more profitable than commercialising creative services. Cultural and creative industries contribute to economic development and modernising the structure of the economy, by fostering the development of other vital sectors, such as sectors directly related to digital transformation, sectors related to leisure activities, cultural and touristic attractions etc. Not only its contribution to GDP formation, to employment or turnover, but also its resilience to crisis and difficult economic times make this sector one of the most reliable in the economy, explaining the interest of political factors for creating the framework for its continuous development.

Keywords: creative economy; performances; exports; imports; turnover; professional activities (search for similar items in EconPapers)
JEL-codes: F14 L84 (search for similar items in EconPapers)
Date: 2017
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Citations: View citations in EconPapers (2)

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