Creative Economy Boosts Philippine GDP in 2023
MANILA, March 21, 2024 - The creative sector in the Philippines saw a significant upturn in 2023, reaching PhP 1.72 trillion and accounting for 7.1 percent of the nation’s GDP. This is a 6.9 percent rise from the previous year’s PhP 1.61 trillion.
The creative sector includes a variety of industries such as audiovisual media, digital interactive goods and services, advertising, and artistic services. In 2023, the largest contributor was the symbols and images industry, which accounted for 31.5 percent or PhP 541.75 billion of the total creative economy, a 2.4 percent increase from 2022.
Employment in the creative sector also grew by 4.0 percent in 2023, with 7.26 million people employed, up from 6.98 million in 2022. Traditional cultural expression activities had the highest employment share at 35.5 percent.
These figures underscore the increasing significance of the creative economy in the Philippines, both in terms of GDP contribution and employment generation.