Dubai: In partnership with the World Governments Summit (WGS), FTI Consulting has launched a new joint report titled 'Creative Futures: The Springboard for Sustained Economic Growth and Diversification', offering governments and public sector leaders a strategic roadmap for harnessing the creative economy as a driver of national prosperity, innovation, and global influence.
According to Emirates News Agency, the report revealed a paradigm shift: cultural and creative industries, spanning film, music, performing arts, publishing, design, gaming, architecture, and digital content creation, are no longer peripheral to economic planning. Once considered niche sectors, they are now recognized as essential engines for sustainable growth, talent development, and soft power. The report highlights the significant size of the global creative economy, approximately $2.25 trillion in 2020, accounting for 3.1% of global GDP and employing nearly 6.2% of the global employment. Moreover, it highlights that every $1 invested in creative industries generates approximately $2.50 in overall economic output, reflecting extensive spillover benefits across tourism, manufacturing, and urban services.
Antoine Nasr, Senior Managing Director and Head of FTI Consulting Middle East, stated, "This report demonstrates that creativity is not just an asset for culture, it is a cornerstone of national economic strategy. 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."
Key insights from the report include the need for whole-of-government governance for cultural power, which involves coordinated, cross-ministerial governance structures supported by dedicated units, enabling governments to transform creative potential into measurable economic impact. It also emphasizes innovative financing for the creative economy, suggesting new funding mechanisms such as blended finance, guarantees, and dedicated creative funds to overcome traditional capital barriers for creative enterprises.
Furthermore, the report advocates for building the future workforce by embedding creativity, entrepreneurship, and adaptive skills into education systems to ensure a talent pipeline capable of sustaining the digital creative economy. Additionally, it highlights the importance of expanding creative exports and global influence, with creative industries serving as vital instruments of soft power, enabling nations to strengthen cultural diplomacy, global visibility, and economic competitiveness.
The report concluded that the creative economy represents a generational opportunity. Countries that act decisively today will shape global cultural industries for decades, while those that delay risk being relegated to consumers rather than producers and importers rather than exporters.
