Philippine creative economy grows to P1.6 trillion in 2022

MANILA, Philippines — The value of the country’s creative economy went up by 12 percent last year from 2021 as more people were employed in the creative industries, according to the Philippine Statistics Authority (PSA).

Preliminary data released by the PSA yesterday showed the country’s creative economy amounted to P1.60 trillion last year, higher than the P1.43 trillion in 2021.

According to the PSA, the creative economy contributed 7.3 percent to the country’s gross domestic product last year.

“The creative economy is composed of the following industries: audio and audiovisual media activities; digital interactive goods and service activities; advertising, research and development, and other artistic service activities; symbols and images and other related activities; media publishing and printing activities; music, arts and entertainment activities; visual arts activities; traditional cultural expression activities; and art galleries, museums, ballrooms, conventions and trade shows, and related activities,” the PSA said.

Among the creative industries, symbols and images and other related activities accounted for the highest share of the total creative economy last year at 32.9 percent or P528.35 billion, up by 10 percent from the P480.41 billion in 2021.

Advertising, research and development, and other artistic service activities came in next, contributing 20.8 percent or valued at P333.92 billion.

This was followed by digital interactive goods and service activities, which had a 20.3 percent share or worth P325.44 billion.

The PSA said there were 6.98 million Filipinos employed in the creative industries last year, 10.5 percent higher than the 6.32 million individuals in 2021.

Traditional cultural expression activities had the highest share in employment in the creative economy last year with 42.5 percent.

Symbols and images and other related activities placed second with a 24.8 percent share in employment in the creative economy, while advertising, research and development, and other artistic service activities came in third with an 18 percent share.

The PSA said creativity is seen to play an important role in improving the economic performance of the country as it can attract potential investments and promote competitive advantage.

With the growing supply and demand for innovative and creative goods and services, it said it is important to capture the economic contribution of the country’s creative sector.

“The PSA plans to institutionalize the compilation of the Philippine Creative Economy Satellite Accounts subject to the approval of the PSA Board and provision of budgetary support from the national government,” the agency said.