Nurturing Wealth: Exploring the Creative Economy Beyond Art, authored by Marta Foresti
New Chair of Global Creative Economy Council Aims to Boost Creative Industries Worldwide
Marta Foresti, an experienced leader in international relations and development policies, has taken up the role of Chair for the Global Creative Economy Council (GCEC). In addition to her new position, Foresti continues to serve as the CEO of LAGO Collective.
The GCEC, a partnership between the British Council and Creative PEC, focuses on promoting international cooperation and economic growth by fostering dialogue, policy advocacy, and partnerships that support the expansion of creative industries. The council aims to share expertise and knowledge with global and local actors working towards a greener, more peaceful, and prosperous future.
Under Foresti's leadership, the GCEC plans to demonstrate that creative industries are essential instruments to addressing global challenges and leveraging opportunities. The council will build new coalitions and alliances beyond the cultural sector and the creative industries, reaching out to extensive networks across borders and disciplines.
The creative industries have a significant impact on the economy. In Lagos, Nigeria, they contribute $7.2 billion towards the country's GDP, and in Berlin, Germany, they account for €7.8 billion, or 8.5%, of the city's GVA. On a global scale, creative industries account for nearly 6.2% of global employment. By 2030, Africa is projected to produce up to 10% of global exports of creative goods, valued at around $200 billion.
The GCEC's vision is to bring local solutions to global problems, with a focus on the creative economy. The council aims to discuss how the creative economy can help in the relocation of cities, using Indonesia as an example. This vision aligns with initiatives like UNESCO or regional development banks' creative economy programs, supporting market access and fostering cultural exchange.
The council will engage in key global events, such as COP 30 in Belem and the South African G20. Many island states represented on the council face similar challenges and can share valuable lessons. The GCEC looks forward to working with all its members in the coming months.
The global creative economy revenue is estimated to be $4.3 trillion. By facilitating the exchange of best practices and enabling partnerships between governments, international organizations, and the private sector, the GCEC helps to overcome challenges such as limited financing, informal operations, and weak policy environments often found in emerging economies. This enhances the capacity of global cities and developing countries to leverage creative industries as a driver of innovation and economic diversification.
Marta Foresti's tenure as Chair of the GCEC is set to make a significant impact on the global creative economy, as she and the council work towards a greener, more peaceful, and prosperous future.
- Marta Foresti, now serving as the Chair of the Global Creative Economy Council (GCEC) and CEO of LAGO Collective, plans to amplify the importance of creative industries worldwide.
- Foresti's leadership aims to foster international cooperation, economic growth, and dialogue that supports the expansion of creative industries.
- The GCEC will extend its reach beyond the cultural sector and creative industries, collaborating with diverse networks to address global challenges.
- Creative industries significantly contribute to the economy, with sectors in Lagos, Nigeria, and Berlin, Germany, accounting for substantial percentages of their respective GDPs.
- On a global scale, creative industries provide nearly 6.2% of total employment, while Africa is projected to increase its share to 10% of global exports of creative goods by 2030.
- The GCEC's vision emphasizes local solutions for global problems, focusing on the creative economy.
- Instances like COP 30 in Belem and the South African G20 will see the council's participation, sharing insights from island states and collaborating with members on future initiatives.
- The global creative economy revenue is estimated at $4.3 trillion, and the GCEC focuses on enabling partnerships to overcome challenges such as limited financing, informal operations, and weak policy environments.
- With the help of the GCEC, emerging economies and global cities can leverage creative industries as a means of innovation and economic diversification.
- Data and cloud computing, as well as sustainable living and technology, are crucial elements that the GCEC aims to consider in transforming the creative economy.
- Education and self-development, personal growth, and career development are integral parts of the creative industries, which the GCEC intends to support through policy and legislation.
- The creative economy can play a role in the real-estate and housing market, as well as in the business, finance, and lifestyle sectors, all of which the GCEC aims to explore through their work.
- Skills training, sports, sports betting, arts, and culture are additional areas where creative industries can have a significant impact, which the GCEC will assess as part of their initiative.
- In line with the goals of organizations like UNESCO and development banks, the GCEC's vision aligns with fostering market access, supporting cultural exchange, and promoting sustainable living.
