Search by tag «Creative Economy» 1 results

  • What Makes Creative Businesses Successful

    Scientists from ITMO’s Institute of Design & Urban Studies have conducted research on St. Petersburg’s creative spaces. The dynamics of creative spaces is an indicator of the state of creative economy, which, in turn, affects the city’s urban development and its image. According to Alexei Kudrin, head of the nonprofit Center for Strategic Research, during the global economic crisis the creative sector grew by 14% a year, going against the overall trend. But even though it is a fast-growing sector in European countries, Russia does not fully use its potential. The industry’s share in the city’s GDP fluctuates between 1% and 1.5%, as opposed to about 6%-9% in London and Berlin, which makes this study on creative spaces in Russian cities so relevant. Researchers tried to answer the following questions: How long do creative clusters live? What types of creative spaces live longer?