It appears that the Russian capital still falls behind other leading megalopolises in terms of the level of its creative economy – from design and cinema to the production of musical instruments and artistic education.
The share of creative industries in the city’s economy is 5.7%, Arina Avdeyeva, head of the technology infrastructure development at the Moscow City Department of Entrepreneurship and Innovative Development, said at the “All about fashion tech” conference at the Kalibr technology park.
For comparison, similar figures for London are 10.6% (the average share of the creative sector in the city’s GRP); for New York and Hong Kong, 8.9%; and for Berlin, 10%. However, unlike the global capitals, Moscow has broader prospects for growth in this niche. The growth rate of the creative economy in Moscow is 36%, compared with 4.6% in London, and 2.5% in New York.
The sector’s growth dynamics – Moscow’s creative economy is showing a booming growth – suggests that it is not a momentary peak, Avdeyeva explained. Nevertheless, the government needs to work out approaches and take steps to support the creative industries, also economically, she added.
On the other hand, Moscow accounts for 14% of all workers employed in the creative sphere across Russia; the capital’s share in the total revenue of creative industries is 20% (the total revenue is about RUR 8 trln ($120.5 bln).