THE country’s creative economy grew by 8.7 percent to P1.94 trillion last year from P1.78 trillion in 2023, the Philippine Statistics Authority (PSA) said.
Preliminary data released on Thursday showed that the sector accounted for about 7.3 percent of the country’s gross domestic product in 2024.
The creative economy consists of industries, such as audio and audiovisual media; digital interactive goods and services; advertising, research and development, and other artistic service activities; symbols and images and other related activities; media publishing and printing; music, arts, and entertainment; visual arts; traditional cultural expression; and art galleries, museums, ballrooms, conventions and trade shows, and related activities.
PSA data showed that employment in the creative economy went up to 7.51 million in 2024 from 7.23 million in 2023.
“The share of employment in creative industries to the total employment in the country was at 15.4 percent in 2024,” the PSA said.
Among the creative industries, symbols and images and other related activities accounted for the largest share at 33 percent or about P640.28 billion.
This was followed by advertising, research and development and other artistic service activities, and digital interactive goods and service activities.
The government is pushing to further develop the country’s creative economy. / PNA