Rustico Machica / A GEM Business Consultancy / March 21, 2024
The Philippine creative economy grew by 6.9% in 2023, reaching a total value of ₱1.72 trillion. This growth is attributed to sectors such as symbols and images, advertising, research and development, and digital interactive goods and services. The creative economy encompasses a wide range of industries, including audiovisual media, digital services, advertising, and more. Employment in these industries also increased, with 7.26 million people working in creative sectors in 2023. The Philippine government has set a goal to become the top creative economy in ASEAN by 2030.
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