WTO Public Forum 2023 – Harnessing the digital creative economy in small economies: Creating pathways towards services-led diversification

September 15
4:00 pm
 – 5:15 pm
Commonwealth | UNCTAD

In 2022 the creative economy was worth at least $1.5 trillion, making it one of the world’s fastest-growing sectors. Beyond vast natural resources, small states and SIDS possess rich indigenous cultural and creative assets, and vast pools of young, talented, entrepreneurs and artists. This under-exploited creative wealth, combined with innovative, disruptive technologies and digital tools, presents opportunities and challenges for smaller economies. The creative economy exhibits more resilience than other services sectors and can employ, empower, innovate and monetise talent, in order to bridge small economies’ geographical and other structural constraints in accessing global markets. Ahead of key multilateral conferences, including the 4th SIDS Conference in 2024, this session will explore how innovative technologies, advances in digitalisation, and trade policy can nurture and support this sector, allowing smaller economies to attract investment and create jobs, kick-starting services-led economic diversification as a sustainable pathway to economic transformation.