PH creative economy expands 8.7%, contributes P1.94 trillion in 2024

The Philippines’ creative economy posted an impressive growth of 8.7 percent in 2024, reaching %u20B11.94 trillion from %u20B11.78 trillion in 2023, according to preliminary data released by the Philippine Statistics Authority (PSA) on Thursday.

The sector contributed around 7.3 percent to the country’s gross domestic product (GDP), highlighting its increasing role in the national economy.

The creative economy covers industries such as audio and audiovisual media; digital interactive goods and services; advertising; research and development; media publishing; music, arts, entertainment; visual arts; traditional cultural expressions; and creative spaces like art galleries and conventions.

Employment in the sector also saw growth, with 7.51 million Filipinos engaged in creative industries in 2024, up from 7.23 million in the previous year. This accounts for 15.4 percent of the total employment nationwide.

Symbols, images, and related activities contributed the largest share, accounting for %u20B1640.28 billion or 33 percent of the sector's total value. Following this were advertising, research and development, and digital interactive services.

The government remains committed to boosting the creative sector. Under Republic Act 11904, the Philippines aims to protect and empower creative firms, artists, artisans, and creators, ensuring the continued growth and global competitiveness of the country's creative industries.