Howard: 10% of GDP globally will be in creative industries by 2030

25 / 11 / 2024

By Marwa Nassar - -

Country Director Egypt Cluster Lead for North Africa at British Council Mark Howard said 10% of the GDP globally will be in the creative industries by 2030, therefore creative industries should not be seen in isolation.

Although creative economy started very long ago, but it had dynamic mapping in the UK in 2015. In 2018 was the first time for the British economies in the UK to have official statistics about creative economy and this was very important step; a million new jobs since that time have been created in the UK which is a lot in proportion to the population.

“If we look on the Boston metrics, the creative economy would be the rising star and it grew 2.5 times faster than the rest of the economies in the UK,” Howard added.

He said creative economy disproportionately shows the UK in a positive light, citing the soft power of Korea.

Howard made the remarks during the first session of the 3rd Egypt Business Solutions Summit, held under the theme of “Creativity is the Key to Sustainability.”

Mert Dedebas, Regional Director of Frankfurt School of Finance and Management Middle East and North Africa, said skills, talents, and capital are needed for creative and knowledge economies.

Individuals can use their own skills and creativity to just produce products.

Opportunities exist. “We can create content with very limited resources, citing Harry Potter books as an example as it was written in a basement,” he added.

Even with limited resources individuals can create impactful content which is part of creative and knowledge economy, referring to several relevant examples to expound the idea.