There are literally trillions up for grabs in the creative industries sweep-stakes. Entire nations; from the United States to Japan and from Norway to Singapore; are betting the next generation's economic future on winning at least a share of the prize.

Not since the tech-boom has a growth concept caught the imaginations of so many international policy makers. First coined by the Blair government and subsequently popularised by an American academic, the focus on 'creative industries' could not have come at a better time. Economies of the developed world are already frantically scrambling to move away from the types of industries that will eventually be dominated by low-cost production behemoths China and India. Instead of financial investments and material goods, the key determinant of success in the 'creative industries race' is one of human capital and having the right policies and environment to attract them.

It will be years before a winner can be predicted with some confidence. Two of the contenders to be the world epicenter for creativity are the United States and northern Europe. The States is leading the pack, but only for now. In the first substantive report on creative industries in Europe, researchers point out the countries that have done it better than others. It is not enough to know a good thing when you see it, you need to act on it quicker than others.     

For more information about the leaders and laggards, visit the member only section and click on Report 8 in Downloads.