The trinidad Guardian / Many of the jobs that exist now will not exist in a few decades because of the rapidly changing industrial and technology sectors.
The “orange industry” is one sector that is predicted to provide new jobs in this evolving scenario.
This industry is made up of the cultural and creative sectors.
Trinidad Zaldivar, representative of the Inter American Development Bank (IDB), who spoke recently at a seminar on the Orange Economy sponsored by the IDB at the Hyatt Regency Hotel, Port-of-Spain, gave an overview of the potential for this sector for T&T and the rest of the region.
“I know that T&T is making a huge effort in identifying the creative industries as a driver of the economy and part of the development strategy. What is unique from this process is that it can have a global audience.”
She said the T&T Film Festival held at the end of September in T&T is an example of leveraging the creative industries.
“The entire audio visual industry has a lot of potential and the digital era can amplify this potential.”
Zaldivar added that T&T and the rest of the region must create opportunities for its creative artistes or they will go to other regions for opportunities.
The only way this can be done is to foster innovation and entrepreneurship at every stage of the education system, she said. IDB funding
Zaldivar said the IDB did a study on the Orange Economy published in 2013. Since then it has been downloaded 200,000 times from the website.
“That was a sign that something was happening in the region. The objective of this was to tell the artistes and creative people that they were part of the economy. Also, there was a part of the economy we were not measuring.”
She said if there was significant data on the Orange Economy, and no way to measure it, then there is no way to convince the Minister of Finance that the Government should invest in this sector.
“The studies showed us this is a sector of the economy that could grow the economy faster and it is much more resilient than other sectors. We must take advantage of these sectors. One thing we do not lack in Latin America is culture and diversity. We have enormous potential.”
Zaldivar pointed out there are more than 30 million people worldwide working in the Orange Economy and in the Caribbean and Latin American region the number is almost two million people.
She said the region must look seriously at the developing jobs in this sector.
“Many of the jobs that we know now will disappear. Over 50 per cent of the jobs we have now will disappear by 2050, according to a study done by MIT. In the centre of this new economy is creativity.”
“This proves that there is in interest in this sector. This publication explores the possibility of the Orange Economy and the talented entrepreneurs. It explores different occupations like architecture, publishing, handicraft. Many times we say we have creativity and culture but we do not have industries, we do not have entrepreneurs. The question is: what do we need to leverage all this talent, monetise it and to make a living from it?”
To spur interest, the IDB started an initiative called Demand Solutions in 2013 as its flagship event that highlights innovation, entrepreneurship and creativity.
It is now in its 10th edition and the next sessions will be in Miami, the Dominican Republic and Argentina.
“We have connected with 7,000 entrepreneurs and creative people in different countries to work with them and leverage their creativity. They must participate in this global economy. Our advice to them is to think big.”
She said the region must move away from the old ways of running an economy simply based on raw materials or low wages.
“The competitiveness of our creative goods and services is not dependent on the lottery of natural resources or low wages nor can it be replaced by machines. It is based on creativity and our own identity. In the age of globalisation, it is kind of an irony that we have to go back to our identity to be competitive and innovative.”