Economic/ Global Trends

How The Growing Creative Economy Will Soon Devour The Real Economy

May 30, 2023
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Photo by Towfiqu barbhuiya on Unsplash

Photo by Towfiqu barbhuiya on Unsplash


As software and new technology closes the gap between design and production, manufacturers will soon need to prioritize the more creative aspects of their businesses in Industry 4.0. Other economic sectors will see this similar trend as well.

The creative economy is now one of the largest consumers of digital services. While there is no single definition of the creative economy, the United Nations Committee on Trade and Development (UNCTAD) says that it is the intersection of human creativity and technology or products that have economic value, including everything from content creation and art to architecture, research and manufacturing.

For instance, actor Andy Serkis founded The Imaginarium Studios, a forward-thinking film, television and gaming company. Tom Evans founded BleepBleeps, an IoT brand that helps parents better care for their children. However, the creative economy also includes titans like Elon Musk, who famously invests in huge projects like SpaceX and tunneling under Las Vegas to solve traffic problems, and Apple, which regularly releases innovative products to enrich our lives.

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