The creative economy deals in ideas and money.
It is the first kind of economy where imagination and ingenuity decide what people want to do and make. And what they want to buy.
The largest sectors are art, culture, design, entertainment, media and innovation.
These have different values and business models but are united by people who are passionate about new concepts and developing new ideas as part of their daily work. They put a higher value on what their work means.
A creative economy is measured just like any other: demand, price, profit and margins. We also look at jobs, output and productivity.
Every new economy changes how people live. The industrial revolution brought change not only to the workplace but also to homes and cities.
The rise of the creative economy marks another sea-change in our lives. It is leading to new ideas about how and where people work and is beginning to re-shape our cities. It is disrupting relationships between workers and managers and investors. It is driving the new digital start-ups, affecting education, and changing the nature of jobs and employment.
At the heart of today’s changes is the private determination of individuals to think of new and often surprising ideas that might stimulate others. Brought together, these people are fuelling the creative economy and shaping the future.