Developing a creative economy

Sri Lanka’s total dependence on the traditional economy is coming to an end and Sri Lanka should follow a new growth model based on Innovation, Entrepreneurship and Creativity as done by Taiwan for semiconductors, China for AI and South Korea for creative industries. Though the economy has to be driven by the private enterprises, the state should play a vital role in identifying focus industries, programmes and mobilise resources that can realistically drive the economy forward by fast tracking to the next level; an Upper Middle-Income Country (World Bank Classification 2021) status in the short run and to reach the High-Income Country threshold level of GDP US$ 13,845 (Nominal) at least within 2030-2035 timeframe. Digitalisation and next generation technologies will reshape creative industries.

A creative economy powered by Web 2.0 and Web 3.0 technologies will help Sri Lanka to unlock the full potential of the Visual Arts, Performance Art and Design sectors and develop online and off-line cross border trade that will bring needy foreign exchange. We can make Sri Lanka a regional hub for a Creative Economy where young Sri Lankans produce music and dance for the international audience through social media, create virtual fashion for leading global fashion brands like Gucci, Nike, Louis Vuitton, Adidas, etc and for millions of overseas fashion enthusiasts to dress up their online avatars in metaverse internet. Just imagine an economy where local design studios produce online games and interior and architectural designs on AR, conduct art exhibitions and international forums on metaverse platforms and sell arts and crafts on social commerce, NFT and metaverse platforms to bring billions of dollars into the country.

If Sri Lanka can build a collaborative ecosystem that can fuse traditional art forms with Web 2.0 and Web 3.0 technologies, this dream will become a reality. However, we have to develop the 21st century creative industries on the strong foundation of our cultural heritage, not in isolation. Traditional art and culture of Sri Lanka is our differentiation and creative identity, which is hard to mimic by others. Proposed government agencies need to formulate plans in close coordination with functioning and active entities like the National Craft Council, Design Council SL, Fashion Design Council SL, SL Institute of Architects, SL Institute of Interior Designers, University of Visual and Performing Art, College of Fashion and Designing and related faculties of universities. Currently, these entities do a yeoman service amidst many difficulties. Building a Creative Economy is a collective effort.