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What / Why :
Background information about the creative economy
1. Why creative economy?
Cost-effective marketing of goods and services has always depended on mass production to generate economies of scale, allowing businesses to compete in their chosen market- whether domestic or global. Countries with low labour and/or raw material costs thus enjoyed competitive advantages. However, this all changed as globalization and intense competition shaped a new global economy surviving on rapidly eroding margins, where price competition increasingly represents a dead end for many businesses.
An alternative strategy may be to increase the value-added content of goods and services, making them 'unique' or 'special' through application of creativity or cultural linkages. Differentiation of products and services by linking them to local wisdom, folkore or traditional local customs offers a route to true localization, where goods and services are readily identified with their geographic origin, and which are hard to imitate.
Using creativity to add value to goods or services offers a promising route in countries with a rich cultural heritage, traditional wisdom and strong aesthetic values.
2. What is the creative economy?
The Creative Economy concept refers to creation of added value in goods or services through the application of knowledge, creative thinking and applications. The creative industries are those which rely heavily on creativity as a major input.
The Creative Economy refers to an economy based on leveraging knowledge, education and creative thinking. It relies heavily on the use of intellectual property associated with cultural roots, accumulated traditional wisdom, combined with the application of modern technology, innovation and business models.
3. Categories of creative industry
The Office of the National Economic and Social Development Board (NESDB) has developed a classification of creative industry sectors, based on the framework set by UNCTAD. Creative industries can be divided into four groups and 15 sub-groups, as follows:
Group 1: Cultural Heritage
- Art, culture and heritage tourism
- Thai food industry
- Thai traditional medicine
Group 2: Arts
- Performing arts
- Visual arts
Group 3: Media
- Broadcast media
Group 4: Functional Creation
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