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HOW CULTURE AND ARTS INFLUENCE THE ECONOMY OF COUNTRIES: reflects Dominic Piote (Part V)

HOW CULTURE AND ARTS INFLUENCE THE ECONOMY OF COUNTRIES: reflects Dominic Piote (Part V)
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Read Part III

Read Part IV

 

The rapid development of the technological industry in Ukraine reminds him of the Silicon Valley of 2004 – the number of startups organized by talented people with breakthrough ideas is growing at an incredible pace in our country. And Dominik Piote, an internationally recognized expert in the field of digital technologies, and recently a Ukrainian CEO, knows what he is talking about.

He has devoted more than 20 years to digital transformation management at Fortune 500 companies. In Ukraine, he uses his experience in Silicon Valley to create the UNIT.City innovation park and the Sector X acceleration hub. Our almanac asked Dominic Piote to share his vision of the future of the creative industry in Ukraine and in the world.

 

MIDDLE CLASS IS A GENERATOR OF CULTURAL INNOVATION

 

The development of culture and art is due to people who, as a rule, are educated, interested in innovation. These are representatives of the middle class. The larger the middle class, the higher the demand for the products of the creative industry, the more often people go to the theatre, cinema, visit museums and concerts, and the more sophisticated they become, which in turn stimulates creative people to look for new ideas and forms. At the same time, thanks to the development of culture and art, people become accustomed to a certain aesthetics and the existence of cultural values ​​in their community.

 

MILLENNIALS CHOOSE CREATIVE CITIES

 

Their quality of life is determined by architecture, design, and the environment of tastefully dressed people. Millennials, who are now the main workforce, for the most part choose to live in tolerant and creative cities with cultural conveniences, innovative, thoughtful and beautiful environments.

For example, the capital of Texas, Austin, has been awarded the title of one of the best cities to work and live for many years in a row. And the cultural life here is very stormy. It is the city with more concert halls, clubs and music cafes than anywhere else in the States.

My hometown of San Francisco is also one of the top 10 cities for both career and leisure. It is a very creative and bohemian city that sets fashion and shapes taste, everything new instantly appears here, technical innovations are introduced. The city attracts both innovative startups and extraordinary artists.

 

CREATIVE INDUSTRIES AS AN ECONOMY DRIVER

 

There are very creative people in Ukraine. The names and works of many designers, architects, musicians, artists, directors are well known to the world. But if you compare the main indicators, the difference will be enormous.

The creative industry of Ukraine generates $ 500 million a year. The arts and culture bring in $ 804 billion annually in the United States, outpacing industries such as agriculture and transportation.

Investments in art and culture are driving urban renewal and redevelopment, which attracts young and creative people. Creative clusters, a creative atmosphere, access to talent, in turn, attract innovative businesses and international companies. Economic improvements will follow.

 

To be continued…

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