Once considered niche sectors, cultural and creative industries are now recognised as essential engines for sustainable growth, talent development and soft power, according to a new industry report launched at the ongoing World Governments Summit (WGS 2026).
The new joint report titled ‘Creative Futures: The Springboard for Sustained Economic Growth and Diversification’, launched by FTI Consulting in partnership with WGS, offers governments and public sector leaders a strategic roadmap for harnessing the creative economy as a driver of national prosperity, innovation and global influence.
The report revealed a paradigm shift: cultural and creative industries (spanning film, music, performing arts, publishing, design, gaming, architecture and digital content creation) are no longer peripheral to economic planning. They are now recognised as key drivers for sustainable growth, and soft power, according to a press statement.
The report highlights the significant size of the global creative economy (~ $2.25 trillion in 2020), accounting for 3.1% of global GDP and employing nearly 6.2% of the global employment. Moreover, it highlights that every $1 invested in creative industries generates approximately $2.50 in overall economic output, reflecting extensive spillover benefits across tourism, manufacturing and urban services.
“This report demonstrates that creativity is not just an asset for culture, it is a cornerstone of national economic strategy,” said Antoine Nasr, Senior Managing Director and Head of FTI Consulting Middle East.
“By integrating governance, financing, talent development and global engagement, governments can unlock transformative value from the creative economy, driving innovation, job creation and international influence.”
Key insights from the report
- Whole-of-Government Governance for Cultural Power: Coordinated, cross-ministerial governance structures, supported by dedicated units, enable governments to transform creative potential into measurable economic impact.
- Innovative Financing for the Creative Economy: New funding mechanisms, including blended finance, guarantees and dedicated creative funds, can overcome traditional capital barriers for creative enterprises.
- Building the Future Workforce: Embedding creativity, entrepreneurship and adaptive skills into education systems ensures a talent pipeline capable of sustaining the digital creative economy.
- Expanding Creative Exports and Global Influence: Creative industries serve as vital instruments of soft power, enabling nations to strengthen cultural diplomacy, global visibility and economic competitiveness.
The report concluded that the creative economy represents a generational opportunity. Countries that act decisively today will shape global cultural industries for decades, while those that delay, risk being relegated to consumers rather than producers and importers rather than exporters.
