CREATIVE ECONOMY: ANALYSIS OF THE ESSENCE, DYNAMICS AND WAYS OF DEVELOPMENT IN THE MODERN WORLD

Abstract

The article examines the essence, dynamics and ways of development of the creative economy in the modern world. The creative economy is seen as a key element of innovative development based on creative potential, intellectual property and cultural resources. Unlike traditional industries, the creative economy relies on intangible assets such as ideas, knowledge, brands, and cultural heritage. The authors analyze the main trends in the development of creative industries, such as digitalization, globalization, and the growing importance of creative industries in the formation of countries' GDP. Particular attention is paid to the challenges faced by participants in the creative economy, including competition, lack of funding, and legal aspects of intellectual property protection. The article offers recommendations on how to stimulate the development of the creative economy through support for innovation, infrastructure development, and international cooperation. The study emphasizes the importance of the creative economy as a driver of economic growth and socio-cultural progress in the context of global transformations. The creative economy is not only an economic phenomenon but also a socio-cultural phenomenon that shapes the future of society. Its study is of great importance for understanding modern economic processes, developing effective policies, and ensuring sustainable development. Global challenges, such as digital transformation, environmental crises, and social inequality, make the creative economy one of the key tools for achieving progress. Therefore, scientific research of this phenomenon is not only relevant but also necessary for the future