The creative economy is becoming a significant growth driver in BRICS+ countries, driven by the intersection of culture, technology, and innovation. According to a study by TV BRICS, creative industries support innovation, boost city competitiveness, contribute to sustainable development, and promote exports. The global creative industry market was valued at $2.9 trillion in 2024 and is expected to reach $4.3 trillion by 2033, with an average annual growth rate of 4.3%. This sector accounts for around 3.1% of global GDP, 3% of global trade, and over 6% of employment.
The creative economy is based on knowledge and intellectual labor, with creative activity becoming a systemic economic factor that creates jobs, attracts export revenues, and generates significant income. The experience economy is also becoming increasingly important, where the value of a product is determined by functional characteristics, emotions, cultural context, brand, and unique user experience. The global market underestimates the competitive advantages of BRICS+ in the creative economy, according to economics and business expert Georgy Grits. He notes that BRICS+ creative industries represent a market with significant potential, combining Eastern capital, Africa's demographics, modern technologies of China and Eurasia, and dominance in raw materials and energy markets.
There are three sustainable models for the development of the creative sector within BRICS+, according to an analysis of national strategies and indicators. The first is the innovation and technology model, primarily represented by China and the UAE, with large-scale technological infrastructure and capital. The second is the hybrid model, represented by Russia, Brazil, and Indonesia, with significant human resources and consumer potential. The third is the traditional cultural model, characteristic of South Africa, India, Egypt, Iran, and Ethiopia, where a significant share of potential is linked to cultural heritage and national identity.
The share of the creative economy in GDP varies across BRICS+ countries. Indonesia has the highest share at 7.3%, followed by China at 4.6%, Russia at 4.1%, Brazil at 3.6%, and the UAE at 3.5%. In Egypt, the figure is estimated to be around 3%, while South Africa's creative economy accounted for around 3% of GDP in 2023. However, cross-country comparisons require caution due to differences in national approaches to classifying and accounting for creative industries.
In terms of creative economy volume, China leads with $879 billion, followed by Indonesia with $105 billion, Russia with $87 billion, and Brazil with $78 billion. Indonesia stands out in terms of employment, with creative sectors employing 18.7% of the workforce, followed by Egypt with 15% and India with 8.3%. In absolute terms, India provides employment for around 50 million people, China for 30 million, and around 27.4 million people work in Indonesia's creative sectors.
Export trade in creative goods remains highly concentrated, with China and the UAE accounting for more than 60% of BRICS+ creative goods exports. Russia, Brazil, and Indonesia together account for less than 15%. Key challenges facing the creative economy in BRICS+ include uneven government support, a lack of financing, an imbalance between production and exports, digital inequality, and insufficient comparable statistics.
To address these challenges, countries are adopting different approaches. China and the UAE have centralized development programs linked to national strategies and targeted support mechanisms. In Russia, India, and Brazil, a significant share of support is formed at regional and private levels. Access to financing remains a limitation, with creative companies often lacking access to specialized banking products, venture financing, and preferential lending. Public-private support mechanisms are becoming one way to address this gap.
Key points
- The creative economy is expected to contribute 10% to global GDP by 2030.
- BRICS+ countries have significant potential in the creative economy, driven by culture, technology, and innovation.
- The global creative industry market is expected to reach $4.3 trillion by 2033, with an average annual growth rate of 4.3%.
