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Cebu business group aims for P500 million in yearly income from the creative industry

The Cebu Chamber of Commerce and Industry (CCCI) has voiced support for the growth of the creative entertainment industry in the Philippines, estimating that it may generate PHP500 million in yearly income in the next two years and PHP30 billion by 2030.

β€œOur first aim for Cebu is PHP500 million each year, with a goal of PHP30 billion by 2030,” CCCI trustee Mario Panganiban told reporters on Tuesday as Cebu celebrated Creative Entertainment Week (CEW) as part of the Cebu Business Month (CBM) events in 2021.

Panganiban believes that this may be accomplished with the help of different government sectors and agencies.

The Animation Council of the Philippines Inc., the Creative Content Creators Association of the Philippines, the Game Developers Association of the Philippines, the Film Development Council of the Philippines, and the Cultural Center of the Philippines are optimistic about meeting the revenue target, he said.

CCCI president Felix Taguiam said they have seen breakthroughs as a result of the Cebuano creative sector’s creativity, adding that UNESCO has recognized Cebu City as a world-class “Creative City.”

Despite the dangers posed by the epidemic, Cebuano artists, according to Taguiam, kept their creative juices flowing.

“Creatively-driven home enterprises and startups flourished. “CCCI recognizes creativity’s significance as a driving force of the economy as well as its enjoyable side,” he said.

According to Taguiam, creativity is the engine of crisis-driven innovation, and it may be the most important talent that the “workforce requires for our companies to expand beyond the new normal.”

Mike Cubos, the chairman of the 2021 CBM, emphasized the importance of innovation among Cebuanos.

“Creativity feeds us.” “We may come from various backgrounds, but I think we can all envision a life without creative arts, whether in the form of music, cinema, animation, or gaming,” Cubos, who is also the CCCI vice president for Cebu business mobilization, said.

Many people sought solace in art during the epidemic, he added.

“We’ve seen numerous Cebuanos become creative in their kitchens and ultimately convert their inventions into sustainable companies that are still thriving today,” he said. “We want the CEW to serve as a meeting place for our creatives to network with other artists and business leaders in order to expand worldwide possibilities.”

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