Tuesday, May 14, 2024

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The creative sector is anticipated to experience growth in the double digits.


The DTI anticipates that the creative industry will experience a growth rate in the double digits within the next three years.

On Thursday, Rafaelita M. Aldaba, who serves as the undersecretary for the DTI’s group focused on competitiveness and innovation, informed reporters that the country’s goal is to continue being a top exporter of creative services.

“According to our projections, the creative industries can expect to experience a growth rate in the double digits over the next three years,” stated Ms. Aldaba.

During the Philippine Creative Cities and Municipalities Competitiveness Congress, Ms. Aldaba reported that the sector contributed to 7.3% of the country’s economy, totaling to P1.6 trillion in the previous year.

According to her, the Philippines is on track to reach its objective of being one of the leading creative economies in ASEAN.

She stated that the data indicates that we are currently leading in exports of creative services. She also mentioned our ongoing efforts to enhance and elevate job opportunities, as well as investments and collaborative programs with other government agencies to support the growth of creative industries, which will ultimately lead to our success in this area.

According to a report by the Philippine Statistics Authority, Ms. Aldaba stated that the creative industries in the Philippines created 6.98 million jobs in 2022. She also mentioned that this sector contributed 6.6% to the country’s trade, with a total value of $7 billion.

She expressed that these examples demonstrate the diverse impact of the creative industries in the Philippines, emphasizing their role in generating employment, driving economic activity, and preserving cultural traditions for future generations.

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She stated that this will significantly contribute to our country’s economic output, generate employment, and drive innovation.

Alfredo E. Pascual, the Trade Secretary, stated that our budget includes provisions for the “Philippine Creative Industries Development,” which is covered by law and has the potential to accomplish a great deal.

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I am unable to fulfill my role by recognizing talent at the local level.

He stated that the LGUs have a crucial impact on the country’s competitiveness, as their direct engagement is essential in promoting strong economic growth.

The Department of Trade and Industry (DTI) supports the industry through efforts like the Philippine Creative Industries Month and the Young Creatives Challenge.

Mr. Pascual, a participant in the Young Creatives Challenge, expressed how the challenge motivates and sparks creativity among young individuals with various talents such as songwriting, scriptwriting, and art. The aim is to produce an exceptional creation that will serve as inspiration to others.