Home Economy Creative industries expected to register double-digit growth

Creative industries expected to register double-digit growth


THE Department of Trade and Industry (DTI) said it expects the creative industry to post double-digit growth in the next three years.

Rafaelita M. Aldaba, undersecretary for the DTI’s competitiveness and innovation group, told reporters on Thursday that the country will be targeting to maintain its place as a source of creative services exports.

“The estimates based on our forecast say that we will be seeing double-digit growth for creative industries in the next three years,” Ms. Aldaba said.

At the Philippine Creative Cities and Municipalities Competitiveness Congress, Ms. Aldaba said that the industry accounted for 7.3% of the economy, amounting to P1.6 trillion last year.

She said that the Philippines is likely to achieve its goal of becoming among the top creative economies in ASEAN.

“The statistics show that we are currently number one in terms of creative services exports,” she said. “And considering all our effort to level up, upgrade, and improve jobs as well as the investments including the programs that we implement together with other government agencies to promote creative industries, we will be able to achieve that.”

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Citing a report from the Philippine Statistics Authority, Ms. Aldaba said Philippine creative industries generated 6.98 million jobs in 2022, adding that the sector accounted 6.6% of Philippine trade, amounting to $7 billion.

“All these show that the Philippine creative industries are not just about creativity, they are about jobs, businesses, and economic growth. They preserve our cultural heritage and shape our future,” she said. 

“They are vital for our economy contributing significantly to our gross domestic product, creating jobs, and fueling innovation,” she added.

Trade Secretary Alfredo E. Pascual said that the “Philippine Creative Industries Development covered by law and funded in our budget will be able to do a lot.”

He added that local government units (LGUs) play a significant role by identifying talent at the grassroots.

“The LGUs play a pivotal role in shaping the nation’s competitiveness as their grassroots interaction is significant in pursuing robust economic development,” he said.

The DTI promotes the sector through initiatives such as the Philippine Creative Industries Month and the Young Creatives Challenge.

“The Young Creatives Challenge really inspires our talented young people — songwriters, script writers, artists… to come up with the best creation to inspire others,” Mr. Pascual said. — Justine Irish D. Tabile

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