DTI eyes P2 trillion boost from creative industry

MANILA, Philippines — The Department of Trade and Industry (DTI) is hopeful that the creative industry’s contribution to the Philippine economy could reach P2 trillion this year, amid ongoing initiatives to support the sector’s growth and position the country as Asia’s creative hub by 2030.

Trade Secretary Cristina Roque told reporters during the Malikhaing Pinoy Expo that the agency is hopeful that the creative industry’s value could rise to P2 trillion this year.

“That’s really the goal because we need to really push the industry,” she said.

According to the Philippine Statistics Authority (PSA), the value of the country’s creative economy went up by nine percent to P1.94 trillion last year from P1.78 trillion in 2023.

The sector contributed 7.3 percent to the country’s gross domestic product last year.

As part of efforts to position the Philippines as a hub for creative industries in Asia by 2030, the DTI conducted the Malikhaing Pinoy Expo at the SMX Aura, Taguig City from Sept. 3 to 7, to elevate the country’s creative domains.

Roque said the Philippines has been known as a nation of storytellers, designers, musicians, animators, writers and cultural bearers.

“Filipino creativity has been widely recognized worldwide and now, we are positioning it as a strategic pillar of our economy that will drive our economic growth forward and provide jobs to our people,” she said.

PSA data showed that the creative industry accounted for 15.4 percent of the country’s total employment last year, providing 7.51 million jobs.

As part of the push for the creative industry, Roque said the DTI is actively promoting the gaming and animation segments.

While the Philippines is already being tapped for gaming and animation, she said “a lot of people don’t know that that’s also our edge.”

As such, she said the DTI is encouraging the private sector to explore opportunities in gaming and animation in the Philippines.

The DTI is also promoting Philippine fashion and furniture.

Roque also said the DTI is implementing various initiatives to support the creative industry.

“We are rolling out reforms and programs that provide tangible support, such as financing for creative entrepreneurs, stronger intellectual property protection, enhanced training and upskilling and expanded global market access,” she said.

She said a loan facility is also available for the creative industry under the DTI’s financing arm, Small Business Corp.