Last month, Singapore unveiled an ambitious 5 year plan that will see £65 million pumped into the creative industries sector. Already hosting powerhouse IT, biotech, finance and logistics sectors, this investment would make the Asian city state of 3.5 million citizens the biggest per capita spender in the global creative industries sweepstakes.
Information, Communications and Arts Minister Lee Boon Yang said that the plan would help meet the 'higher demand for creative talents and those who can contribute to meeting the growing market for creative products and services'. Minister Lee also said that the aim was to double creative industries revenue contribution from 3% to 6% of the national GDP in an effort to catch up with the US and Britain. Britain and the US are widely regarded as the world leaders in creative industries, with the sector comprising around 8% of GDP.
