The creative industries as an integrated factor in a sustainable model for Macao's economic development

This article presents an insight into one of the regions with the fastest-growing economy, heavily based on an entertainment, gaming and tourism industry, and that is urgently looking for a sustainable model that articulates with complementary sectors within the cultural and creative industries – Macao. Macao is facing a major economic and social challenge; it has grown as a vulnerable economy relying almost exclusively on gaming revenues. Alternative activities to diversify the economy are urgently required to answer the competition risks haunting this industry. The cultural and creative industries could be a complementary activity – a vehicle for economic diversification. However, current public and private stakeholders for the cultural and creative sector might have been neglecting the unique cultural and heritage ecosystem of the territory, focusing on isolate opportunities and overlooking an inclusive and robust strategy. A sustainable model that attends to the local conditions and its people is required for alternative activities to become a meaningful sector for the social and economic development of Macao.

2 citations (Crossref) [2022-09-21] GSCC: 0000011