Creative industries grow to P1.7 trillion last year

The Philippine Statistics Authority (PSA) reported that the country’s creative industries registered sustained growth last year, although their contribution to the domestic economy decreased.

In 2023, the creative economy posted a seven percent increase from January to December, hitting P1.72 trillion compared to P1.61 trillion in the previous year, equivalent to 7.1 percent of gross domestic product (GDP).

The GDP figure, however, is lower than the 12.2 percent recorded in 2022.

The creative economy covers sectors where creativity, culture, and technology converge such as design, arts, and media.

Among the creative domains, symbols and images and related activities accounted for the largest share at 31.5 percent, totaling P541.75 billion, a 2.4 percent increase from 2022.

Advertising, research and development, and other artistic services contributed 21.9 percent, while digital interactive goods and services activities shared 21.1 percent in 2023.

Employment in the creative industries reached 7.26 million persons in 2023, a 4.0 percent growth from 6.98 million in 2022.

Traditional cultural expression activities constituted the largest share of employment at 35.5 percent, followed by symbols and images and related activities, and advertising, research and development, and other artistic services. — Chino S. Leyco