creative economy

he Philippines has built a creative economy that is becoming increasingly competitive globally, but the country must generate, own, and commercialize more Filipino intellectual property (IP) if it hopes to become a leading creative hub in Asia by 2030, according to a new report released on June 9.

The figure marks a 6.9% increase from P1.98 trillion in 2024, with technology-driven segments playing a growing role in the sector’s expansion.

The government is determined to make the Philippines the No. 1 creative economy in Asean by 2030, a lawmaker said on Sunday, Sept. 3.

Of the creative industries, symbols and images and other related activities had the highest share of 32.9 percent or P528.35 billion to the total creative economy in 2022.