The creative economy is emerging as a new area of cross-border investment and economic cooperation among BRICS+ countries, with creative industries increasingly contributing to employment, exports, innovation and urban development, according to a new TV BRICS study.
The global creative industries market was valued at around $2.9 trillion in 2024 and could exceed $4.3 trillion by 2033, representing average annual growth of 4.3 per cent, according to the study. The sector accounts for approximately 3.1 per cent of global gross domestic product, three per cent of international trade and more than six per cent of employment.
The study divides BRICS+ economies into three broad development models. China and the UAE are identified with an innovation and technology-led model, while Russia, Brazil and Indonesia are grouped under a hybrid approach. India, South Africa, Egypt, Iran and Ethiopia are placed within a traditional cultural model.
China has the largest creative economy among the countries examined, with the sector valued at about $879 billion. Indonesia follows with $105 billion, while Russia and Brazil account for $87 billion and $78 billion respectively.
India stands out for the scale of employment generated by its creative sectors. According to the study, around 50 million people work in creative industries in India, equivalent to 8.3 per cent of the country’s workforce.
Despite the sector’s growth potential, experts cited in the study identified several barriers to greater investment and cooperation. These include limited access to finance, uneven government support, digital inequality and differences in how countries define, measure and classify creative industries.
The valuation of intellectual property is another challenge. Brands, software, patents and cultural content can represent significant economic value, but financial institutions in several countries continue to face difficulties in assessing such intangible assets.
Experts have called for stronger regional financing mechanisms and cross-border initiatives to support creative entrepreneurs. Greater coordination on intellectual-property protection, licensing, digital payments and international transactions could also help businesses operate across BRICS+ markets.
Film and television production, gaming, animation and digital art have been identified as potential areas for deeper cooperation. Cultural tourism, design and education could also benefit from greater movement of talent, technology and capital between member economies.
Several cities are already emerging as important creative and innovation centres. Shanghai, Beijing, Dubai, Moscow and Mumbai are highlighted in the study as established clusters with the infrastructure, talent and investment networks needed to support further expansion.
For India, the growing focus on the creative economy could create opportunities across entertainment, digital media, design, technology, tourism and cultural industries. Greater links with other BRICS+ markets could potentially provide new avenues for investment, distribution and international collaboration.
The broader trend points towards a shift in how creative industries are viewed within emerging-market economies. Beyond their cultural significance, sectors such as film, gaming, animation and digital content are increasingly being considered part of the wider investment, employment and innovation landscape.
