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CARIBBEAN | New report explores the future of the creative and cultural economy

IFTF’s Executive Director Marina Gorbis IFTF’s Executive Director Marina Gorbis
WASHINGTON, Sept 12, CMC – A new study has found that digital cooperatives, social networks income distribution, micro-assistance for artists, biotechnology design products, regional cultural markets and creative answers to natural disasters are just some of the innovations that could emerge within the next decade.

The study undertaken by the Inter-American Development Bank (IDB) and The Institute for the Future (IFTF), draws from the premise of five engines for global change and forecasts their impact on 10 zones of innovation in the creative and cultural industries, or the orange economy.

IDB studyThe new study is titled “Future Landscapes of the Orange Economy: Creative Pathways for Improving Lives in Latin America and the Caribbean”.

Creative and cultural industries, which include subjects such as visual arts, music, fashion, graphic design and digital games, in 2015 generated US$124 billion in revenues and provided employment to more than 1.9 million people in the region.

“What if we could tap the full potential and creative talent of our people?” asked Trinidad Zaldivar, head of the IDB’s Cultural, Solidarity and Creativity Affairs Division.

“This report is an invitation to explore the future, not to make exact predictions, but to stimulate a dialogue around innovative ideas and opportunities,” he added.

IFTF’s Executive Director Marina Gorbis said the study notes that by adopting fast technological advances on social networks, artificial intelligence, crowdfunding and other business models, creative and cultural leaders can go beyond the incentive to create employment and wealth in order to “build societies where it is really worth living — vibrant, expressive and happy societies,”.

  • Countries: Caribbean

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