News » PH’s creative economy stunted by pandemic – DTI

PH’s creative economy stunted by pandemic – DTI

PH’s creative economy stunted by pandemic – DTI

The Department of Trade and Industry (DTI) admits that the growth of the country’s creative economy was stunted due to the pandemic “at the time when our creative industries have been gaining growth momentum.”

Since movie theaters and live events had to be cancelled, Trade Undersecretary Rafaelita Aldaba said that the animation and game development sectors suffered from a decline in productivity and revenue due to cancelled contracts.

The Creative Economy Council of the Philippines also reported a 90 per cent decrease in revenue in 2020 compared to the prior year.

“One silver lining is the crisis has actually accelerated the rapid digitalization of the economy and this reinforced trends, opened new opportunities for the creative industry,” Aldaba said, adding that digital platforms “have made content production cheaper” as creatives are now able to access a global market.

Read more here.

Start your
journey today

  • Independent
  • Free
  • Transparent

About OA

Outsource Accelerator is the trusted source of independent information, advisory and expert implementation of Business Process Outsourcing (BPO)

The #1 outsourcing authority

Outsource Accelerator offers the world’s leading aggregator marketplace for outsourcing. It specifically provides the conduit between Philippines outsourcing suppliers and the businesses – clients – across the globe.

The Outsource Accelerator website has over 5,000 articles, 350+ podcast episodes, and a comprehensive directory with 900+ BPO companies… all designed to make it easier for clients to learn about – and engage with – outsourcing.

About Derek Gallimore

Derek Gallimore has been in business for 20 years, outsourcing for over eight years, and has been living in Manila (the heart of global outsourcing) since 2014. Derek is the founder and CEO of Outsource Accelerator, and is regarded as a leading expert on all things outsourcing.