Stories
BRICS+ Creative Economy: New Growth Centers Emerge, Global Market to Exceed $4.3 Trillion
- •The creative economy is a growing area for cross-border investment and cooperation among BRICS+ countries, contributing to innovation, employment, exports, and urban development.
- •The global creative industries market, valued at $2.9 trillion in 2024, is projected to surpass $4.3 trillion by 2033, growing at an average annual rate of 4.3%.
- •BRICS+ countries exhibit three development models: innovation and technology (China, UAE), hybrid (Russia, Brazil, Indonesia), and traditional cultural (India, South Africa, Egypt, Iran, Ethiopia).
- •China leads the BRICS+ creative economy with $879 billion, followed by Indonesia ($105 billion), Russia ($87 billion), and Brazil ($78 billion; India employs 50 million in creative sectors).
- •Challenges include limited finance access, inconsistent government support, digital inequality, and difficulties in valuing intellectual assets; experts propose regional financing and cross-border initiatives.
Key Questions Answered
The global creative industries market was valued at USD 2.9 trillion in 2024 and is projected to surpass USD 4.3 trillion by 2033, expanding at an average annual growth rate of 4.3 percent. Currently, the sector contributes approximately 3.1 percent to global GDP, 3 percent to global trade, and over 6 percent of total employment worldwide.
The study categorizes BRICS+ nations into three development models: an innovation and technology model led by China and the UAE; a hybrid model featuring Russia, Brazil, and Indonesia; and a traditional cultural model comprising India, South Africa, Egypt, Iran, and Ethiopia. China leads the bloc by volume at USD 879 billion, followed by Indonesia, Russia, and Brazil.
The sector faces challenges such as limited financing, inconsistent government support, digital inequality, and difficulties valuing intellectual assets. To foster growth, experts propose regional financing mechanisms, compatible intellectual-property systems, and cross-border initiatives in joint films, gaming, animation, digital art, design, and cultural tourism.
