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The creative economy is the sum of all the parts of the creative industries, including trade, labour and production. Today, the creative industries are among the most dynamic sectors in the world economy providing new opportunities for developing countries to leapfrog into emerging high-growth areas of the world economy.What does creative economy mean to you?
A creative economy is based on people's use of their creative imagination to increase an idea's value. John Howkins developed the concept in 2001 to describe economic systems where value is based on novel imaginative qualities rather than the traditional resources of land, labour and capital.: Compared to creative industries, which are limited to specific sectors, the term is used to describe creativity throughout a whole economy.Why is the creative economy important?
A creative economy is the hidden force that keeps us moving in the right direction . Being creative keeps businesses flexible and able to produce innovative solutions to a wide range of problems.Where is the creative economy?
In the Western Hemisphere, Guatemala, Haiti, and Colombia all have thriving creative economies and are known worldwide for their cultural contributions. In East Asia, Taiwan has made significant strides in growing its creative economy and becoming an economic success story.