Creative Economy: World Experience and Challenges for Ukraine within the Terms of Crisis Transformations

Creative Economy: World Experience and Challenges for Ukraine within the Terms of Crisis Transformations

Hudyma Liliia O.

Today, there is a need for new theoretical-methodological and practical methods and approaches to activate and efficiently use creative human potential, which is an important factor in stabilizing and sustainable development of the modern economy. It is specified that creative and intellectual human potential is the main driver of formation of the new economy and a determining factor of competitiveness at the global level. In the article, the creative economy is defined as the conception of a post-industrial economy, which is based on the formation of a system of socio-economic relations regarding the production, distribution and consumption of benefits, which use as factors the production creativity, intellectual resources, as well as a talent for generating new ideas, which creates an innovative product or service. Also proved is the probability of Ukraine’s creative economy reaching the highest level of development, provided the efforts of the State, enterprises and society are combined, as evidenced by Ukraine’s high position in the global rankings of creativity and innovation. The creative potential of each of the five continents of the world are analyzed and a rating of creative industries by the level of profitability is built up. Creative industries with the largest share of profitability (television, visual arts, newspapers and magazines) as well as regional leaders for most creative industries – the USA and Asia – are identified. The profitability of creative industries in different regions of the world is estimated and, according to the results obtained, the prevailing share of creative industries is observed in the Asia-Pacific region (33%). The importance of supporting creative businesses during the crisis caused by the COVID-19 pandemic is emphasized. Based on the analysis of the survey of creative business owners, recommendations are made for the government to enable creative industries to compensate for their own losses and to provide favorable conditions for the reactivation of their activities.

2020

economic crisis, profitability, creative industries, creative economy, Creative Business, global rating

10.32983/2222-4459-2020-5-100-106

Biotemas

Universidade Federal de Santa Catarina

Business