ISLAMABAD, Oct 8 :Coherent national strategies that develop talent and expand digital creative industries can help developing countries tap into the global creative economy, generating high-quality jobs that contribute to economic growth, according to a new report published today by the Asian Development Bank (ADB).
\n\u201cDigital disruption of creative industries can present huge economic potential in Asia and the Pacific,\u201d said ADB Director General for Climate Change and Sustainable Development Bruno Carrasco about the launch of A Review of Digital Creative Industries in Asia: Opportunities and Policies to Foster Growth and Create High-Quality Jobs.<\/p>\n
\u201cYet the policy environment does not always allow creatives to thrive and connect with the global value chain,\u201d added Mr. Carrasco.<\/p>\n
\u201cThis report can help industry and policy makers shape Asia and the Pacific\u2019s digital creative industries, foster opportunities to bridge the region\u2019s rich cultural heritage with the rest of the world and drive economic growth,\u201d he added.
\nBased on more than 40 interviews with key individuals across India, Indonesia, Thailand, and Viet Nam\u2014including with industry associations and creative professionals in the film, gaming and music industries\u2014the report highlights opportunities for emerging countries to boost their digital creative industries, assess domestic talent development, and encourage policies that create high-quality jobs.
\nWhile there is strong demand from global entertainment companies to produce local content and work with local talent, there are not enough skilled local producers, screenwriters, and programmers.
\nTo address this, the report recommends that governments and industry define the essential knowledge and skills required to perform different creative roles, build lifelong training systems, incentivize businesses to upskill their workers, and improve creative industry working standards.
\nSuch long-term strategies have helped creative powerhouses\u2014such as Canada, the Republic of Korea, Singapore, and the United Kingdom\u2014to grow their domestic talent pools and attract foreign investment. The report distills key lessons from these countries that can help guide policymakers aiming to develop creative industries.
\nAnother barrier identified is a severe lack of funding in the four countries examined in South and Southeast Asia. This limits the potential for local film producers, game developers, and musicians to grow, even as high-speed internet, streaming platforms, and portable devices have enabled them to reach much wider audiences.
\nEstablishing structured funding facilities, including loans, credit guarantees, grants, and venture capital financing, can transform creative ideas into concrete projects, according to the report. With sufficient support from the government or through public\u2013private collaboration, these businesses can be provided with a financial safety net to innovate.
\nThe report was produced with support from Netflix, the video entertainment streaming service. As ADB\u2019s knowledge partner, Netflix provided experts to be interviewed for the report and enabled access to key stakeholders in the digital creative industry. The work on the report is part of the two organizations\u2019 ongoing collaboration to generate knowledge and boost Asia and the Pacific\u2019s creative industries.<\/p>\n","protected":false},"excerpt":{"rendered":"
ISLAMABAD, Oct 8 :Coherent national strategies that develop talent and expand digital creative industries can help developing countries tap into the global creative economy, generating high-quality jobs that contribute to economic growth, according to a new report published today by the Asian Development Bank (ADB). […]<\/p>\n
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