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Last Updated: Feb 6, 2017 - 2:32:04 PM |
 The
Organization of American States (OAS), the Inter-American Development
Bank (IDB), and the British Council, today presented the report “The
Economic Impact of the Creative Industries in the Americas” in Santiago,
Chile, in an event organized by Santiago Creativo-CORFO, a program of
the Ministry of Economy of Chile, in the framework of the 6th World
Summit on Arts and Culture (IFACCA).
The report,
was produced by the three institutions to show the important
contribution to growth, jobs, and trade in the Hemisphere generated by
creative and cultural activities such as the arts, design, music, and
advertising, among others. According to data compiled by Oxford
Economics in the study, some $640 billion was the value of the world’s
exports of creative goods and services in 2011, of which $87 billion or
14 percent originated in the Americas.
The report which compiles existing quantitative data on the
economic performance of the creative and cultural industries, surveys 44
countries—including 34 countries in the Americas and 10 benchmark
countries from other regions around the world. It also recommends ways
to improve and standardize national measurement frameworks to better
track trends within and across countries and support more evidence-based
policymaking.
One of the important analyses in the study focuses on the
contribution by creative industries to GDP, which varies widely across
the region: from just under 2 percent in Chile to more than 10 percent
in Brazil and the United States. Growth rates in the sector are
consistently higher than the average of the economy. It also reflects
that the creative sector is also an important source of employment in
some countries, providing between 5 and 11 percent of jobs in Canada,
Colombia, Mexico, and Trinidad and Tobago. The sector has a higher
percentage of youth employment than the rest of the economy. Also, the
creative sector is becoming increasingly international: exports from the
countries in the Americas accounted for 2.2 percent of all foreign
sales of goods and services.
In presenting the study at the 6th World Summit on Arts and
Culture, the OAS, IDB, and British Council expressed their hope that the
study would raise awareness of the creative sector's enormous potential
for economic development and innovation for the region. They also
pointed to the critical need to move forward toward more harmonized and
rigorous measurement mechanisms already underway to ensure appropriate
policy responses to the sector's needs and opportunities. The three
institutions pledged to continue their joint collaboration to promote
the creative economy in the hemisphere. The OAS contribution to the
report was possible thanks to the financial support of the Government of
Canada and the People’s Republic of China.
For more information, please visit the OAS Website at www.oas.org.
© Copyright 2014 by thebahamasweekly.com
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