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Estimates put the global cultural and creative industries as being worth US$2.2 trillion and growing at an annual rate of five per cent. This industry, which exists to create, produce, and/or distribute copyright materials, affords Jamaica its greatest foreign exchange earning potential and should be placed at the forefront of the search for economic solutions
The Committee of the Regions' (CoR) rapporteur on Promoting Cultural and Creative Sectors for Growth and Jobs in the EU, Mr. Anton Rombouts, emphasised the need to focus on other dimensions of culture apart the economic sector.
In Germany, enterprise from cultural and creative industries represented 7.4% of the value added to the economy in 2009. In Mali the cultural sector contributed 2.38% to the GDP in 2006. However, there are few cross-nationally comparable statistics and methodologies to quantify the effect of these industries at the global level.
Chinas cultural industry realized a total output value of over 4 trillion yuan in 2012, increasing from the 3.9 trillion yuan in 2011, according to data from the China Cultural Industry Annual Development Report 2013published by the Cultural Industry Research Institute at Peking University on January 5.
More funding should be put into the arts not less, says the artistic director of Europe's largest arts complex, London's Southbank Centre.
As the concept of the "knowledge economy" grows, so too does the creative enterprises industry.