2.4 Creativity as an economic driver

Creativity can be a powerful economic driver when used effectively. The Orange Economy is a relatively new term used to describe economic activities related to creativity, culture, and entertainment.

Since the 1950s and 1960s, economists have been exploring the relationship between culture and the economy, identifying culture as an important driver of economic growth. However, it wasn’t until the 1990s that economists began to pay more attention to creativity and entertainment as sources of wealth.

This term was coined by Colombian economist Felipe Buitrago, whom you just learned about in the previous video, in 2013, and since then, it has gained popularity in Latin America and other parts of the world.

In recent years, the Orange Economy has gained greater recognition and has become the focus of public policies and investments in many countries around the world.

For example, in Colombia, the government has launched a series of initiatives to promote the Orange Economy, including the establishment of a Ministry of Culture and the creation of tax incentives for cultural and creative businesses.

In Brazil, the government has launched a program called “Brasil Criativo” to boost the Orange Economy and has established an agency dedicated to promoting creativity and culture.

Despite the increased attention and interest in the Orange Economy, it is still a relatively new and evolving concept. There is still much to be discovered and explored about the nature and potential of the Orange Economy.