‘Recognize the creative economy as a strategic national asset’
A significant shift is underway in global economic planning, as cultural and creative industries move from the sidelines to the centre of national development. Generating trillions in economic value, the creative economy has emerged as a powerful global force.
Sectors like film, gaming, publishing, architecture, and digital content (among others) are now essential engines for prosperity and international influence, according to a new report from FTI Consulting and the World Governments Summit.
These industries represent more than 3% of the global economy and provide jobs for over 6% of the world’s workforce. Economic data indicates that investing in these sectors yields high returns; every dollar spent on creative projects generates an estimated $2.50 in total economic activity. This growth provides secondary benefits to other areas, including tourism, local retail, and city services.
Global trade in creative services remains highly dominated by a small group of advanced economies, primarily in Europe and North America, that account for the bulk of creative services exports. Between 2010 and 2022, global exports of creative services tripled to reach $1.38 trillion, while creative goods exports grew more modestly, reaching $713 billion in the same period.
Asia’s creative services exports have grown sharply in recent years, narrowing the gap with traditional leaders. This momentum signals a clear opportunity for Asian markets, including Middle Eastern hubs, to scale design, media, and other creative services in order to capture higher-value segments of the global creative economy.
The role of governments
The report encourages governments to move away from older, fragmented management styles where different departments handled art, trade, and technology separately. The authors recommend a coordinated approach across various ministries to support the creative sector. Successful models often include specialized agencies or councils that bring together government officials and industry professionals to design better policies.
Funding remains a primary challenge because many creative businesses rely on ideas rather than physical equipment, making it difficult to secure traditional bank loans. To solve this, the report recommends new financial tools like public guarantee funds and public-private partnerships that blend public money with private investment. These systems help reduce risk for lenders and allow creative enterprises to grow more reliably.
The future of the creative economy also depends on education and digital rights. Traditional school models that focus on memorization are being replaced by curricula that value curiosity and technical skills like AI. Additionally, protecting intellectual property is vital so that creators can earn fair pay as their work reaches global audiences through digital platforms.
“By investing in governance, talent, financing, and global outreach, nations can secure economic resilience, cultural influence, and long-term prosperity in a rapidly evolving world,” said Reem Baggash, deputy managing director at the World Governments Summit.
He called the report “a call to action for governments to recognize the creative economy as a strategic national asset.”
Soft power
According to the study, countries that move quickly to support their creative industries gain a significant advantage in soft power and are better positioned to use their cultural exports to build a stronger global reputation. They warn that countries failing to act now may become mere “consumers of foreign culture” rather than creators of their own, missing a major opportunity for long-term economic stability.
“This report shows that creativity is not just an asset for culture, it is a cornerstone of national economic strategy,” said Antoine Nasr, a Senior Managing Director and Head of FTI Consulting in the Middle East.
“By integrating governance, financing, talent development and global engagement, governments can unlock transformative value from the creative economy, driving innovation, job creation and international influence.”
