Arts, Culture, Creative Industries and New Media Research and Ventures
Creativity, Imagination, Innovation
Cultural and creative industries are the economic activities of artists, arts enterprises, and cultural entrepreneurs in the production, distribution and consumption of film, literature, theatre, dance, visual arts, broadcasting, and fashion. New digital and information and communication technologies have revolutionized the industry's production process, distribution channels, and consumption modes.
The creative sector has strong linkages with tourism. In some major cities and tourist destinations, cultural tourism is estimated to be as high as 50% of annual visitor arrivals. In addition, cultural tourists tend to spend more on local goods and services than the average visitor.
In economic terms, the cultural and creative sector is globally one of the fastest growing. These industries offer more sustainable development options than traditional exports because the sector draws on the creativity of local artists and entrepreneurs, generating higher levels of local value-added. Moreover, the sector has strong growth potential and plays a key role in the arena of identity formation.