Creative Economy As A Driver Of Growth: Global Report By World Governments Summit

The global creative economy is now a central pillar of growth, with new data showing it generated about $2.25 trillion in 2020, or 3.1% of global GDP, and supported nearly 6.2% of all jobs worldwide. Governments are being urged to treat creative industries as core economic assets, not side sectors.

According to new research, every $1 invested in creative industries delivers around $2.50 in wider economic output. This impact spreads into tourism, manufacturing and urban services, demonstrating that cultural and creative activity supports many other sectors and can help countries diversify their economies over the long term.

FTI Consulting, working with the World Governments Summit, has released a joint report titled "Creative Futures: The Springboard for Sustained Economic Growth and Diversification". The report gives governments and public sector leaders a strategic guide for using the creative economy to support national prosperity, innovation and stronger global visibility.

The study explains that cultural and creative industries, such as film, music, performing arts, publishing, design, gaming, architecture and digital content creation, are now seen as vital policy areas. Once treated as niche, these sectors are described as essential engines for sustainable expansion, skills development and soft power in the international arena.

One major finding stresses the need for whole-of-government governance models. The report says that coordinated, cross-ministerial structures, backed by dedicated units, allow states to turn cultural and creative potential into clear economic outcomes. Such arrangements help align policies on culture, trade, education, tourism and technology under a shared national vision.

The report also underlines financing challenges. It highlights the role of innovative funding tools, including blended finance, guarantee schemes and purpose-built creative funds, to address traditional capital gaps faced by creative enterprises. These mechanisms are presented as ways to support both early-stage creatives and larger firms seeking to expand into global markets.

Creative economy skills, soft power and long-term opportunity

Another focus is the future workforce. The report calls for education systems that embed creativity, entrepreneurship and adaptable skills from early stages. This approach aims to build talent able to thrive in the digital creative economy, where technology, content creation and business skills increasingly intersect across different cultural sectors.

Soft power and exports feature strongly. The report notes that creative industries act as important tools of cultural diplomacy, helping countries enhance global visibility and economic competitiveness. By growing creative exports, nations can project their identity abroad while building new revenue streams less dependent on traditional commodities or manufacturing.

"This report demonstrates that creativity is not just an asset for culture, it is a cornerstone of national economic strategy," said Antoine Nasr, Senior Managing Director and Head of FTI Consulting Middle East. "By integrating governance, financing, talent development and global engagement, governments can unlock transformative value from the creative economy, driving innovation, job creation and international influence."

The report concludes that the creative economy offers a generational chance for countries to reshape their futures. It finds that governments acting decisively now are likely to influence global cultural industries for decades, while slower movers risk becoming mainly consumers and importers, instead of producers and exporters of creative goods and services.

With inputs from WAM