Creative industries to drive regional economic growth— OBG

Creative industries driver of economic growth—OBG

Creative industries should boom in Southeast Asian countries, including the Philippines and Indonesia, according to a study. Oxford Business Group (OBG), a global research and consultancy firm, said creative industries could be the growth engine that Southeast Asian countries will need to offset a slowdown in their respective economies. OBG Asia Regional Editor Patrick Cooke said the Philippines, in particular, has a large consumption-driven internal market, buoyed up by advantageous demographics. The existing pool of young talent in its BPO industry can be expanded to develop a creative process outsourcing industry, performing more high-value activities like graphic design, online marketing, web development, and the game development industry, said Cooke.

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