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Creative industry a key contributor to PH growth

Employment generation potential also high
By: - Reporter / @amyremoINQ
/ 08:14 AM November 28, 2014

Philippine copyright-based industries contributed P661 billion to the local economy, equivalent to about 7.34 percent of the country’s gross domestic product (GDP).

These industries also accounted for about 14.14 percent of the country’s total labor force in 2010.

These findings, which demonstrated the economic viability of the creative industries, were based on the 2013-2014 study prepared by the Intellectual Property Office of the Philippines (IPOPHL) and the World Intellectual Property Organization (Wipo), which focused on the contribution and significance of copyright-based industries (CBIs) to national economies.

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“The percentage contribution of copyright-based industries to GDP is very high compared to the rest. In terms of employment, the contribution of Philippine CBIs to the economy is the highest in the world,” said IPOPHL director general Ricardo R. Blancaflor.

“These results have a very big implication. That means the production of the creative industry should be in the radar of the business community, the banks and economic planners,” he added.

Core CBIs refer to literature, music, theater, film, the media, photography, software, visual arts, advertising services and collective management societies.

This grouping also includes the so called inter-dependent copyright industries, which deal with products jointly consumed with the core industries, or with facilitation equipment; partial copyright industries, in which only part of the production is linked to copyright protected material, and non-dedicated support industries, which remotely rely on copyright materials and where copyright generates a small portion of the business.

The study updated and reinforced the findings of the 2006 baseline study that showed that CBIs contribute significantly to the Philippine economy and register strong potential for employment generation.

According to the 2006 Wipo study, Philippine copyright-based industries contributed only 4.92 percent to the GDP and 11.1 percent to national employment in the country.

Copyright based exports, estimated at 3.06 percent of total exports, exceeds copyright based imports, which make up 0.81 percent of total imports.

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TAGS: creative industry, economic growth, Gross Domestic Product, Intellectual Property Office of the Philippines, IPOPHL, Wipo, World Intellectual Property Organization
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