Creative industries competition on global markets (on the basis of Sunrise Prod)

Abstract

Over the last three decades, the creative industries sector has risen at a breakneck pace. In many developed and emerging countries, this industry has created new jobs, increased access to international markets, and improved export competitiveness. The industry has also aided in developing capacities and skills, developing creative potential, and instilling an entrepreneurial spirit in young people. The study aimed to demonstrate the importance of creative industries in promoting and maintaining exports and worldwide market access, as well as their ability to endure financial and economic crises. The study's findings support the creative industries' ability to increase long-term viability and exports. According to statistics on creative industries' foreign commerce, they have sustained growth of more than 80% over the last two decades. The developing world accounted for the majority of this growth, with a pace of more than (200%) over the previous two decades, while wealthy countries' export revenues from creative industries grew at a rate of roughly 47%. We examine the trend of creative industries exports in the global market to reach the research's goal. Creative industry exports have expanded practically consistently and have been unaffected by the financial crisis of 2008. From 2005 to 2022, the creative industries' trade balance continued to generate financial surpluses.