The Modern Practice of Creative Industries' Functioning under the Conditions of Sustainable Development

Abstract

This article is devoted to studying the development of creative industries in the world under the conditions of sustainable development. The study's main purpose is to show the importance and prospects of the creative and cultural industries for world and humanity development. With this purpose, scientific literature, which allows estimating foreign experience of formation and development of creative industries, and effect features in the different countries, has been studied. Using statistical analysis methods, the estimation of creative industries in dynamics concerning a global gross domestic product has been made. The results show that the creative industries account for 3% of the country's GDP under the condition of natural development; the creative industries will develop at the rate of 10% per year, bringing the socio-economic status of the countries to a new level. The analysis of the creative industries structure showed its concentration around the information technology sector. However, the cultural sector also has an important role in sustainable development, allowing humanity to self-realize and be financially satisfied through the high value of creativity in industrial spheres. Furthermore, it is possible to accelerate the growth of creative industries by creating creative clusters formed by educational institutions, cultural institutions, and industry taking into account the peculiarities of regional development. Based on the analysis results, a SWOT analysis allows summarizing the research, highlighting the prospects for developing the creative industries and the main threats.