- 2016 Size (Modest Fashion & Media Only): USD 450 billion
- Average Year-Over-Year Growth (Modest Fashion & Media Only) (2015-2016): 5%
- Projected Size in 2022 (Modest Fashion & Media Only): USD 654 billion
Most commentators refer to the creative industries as areas of economic activity that rely on human creativity to generate wealth. A 2015 study estimated that these industries contribute between 3% and 8% of the world’s GDP and sustain 29.5 million jobs. As the fastest-growing sector in most economies, the creative industries tend to be highly exportable while driving local and national economic growth.
The creative industries are not yet analyzed as a consolidated halal sub-sector, but just two halal creative industries—modest fashion and media—have a combined 2016 market size of just over USD 450 billion. By 2022, the market is projected to expand to USD 654 billion. The creative industries in particular are primed for growth, as large swaths of the increasing global Muslim population are in the critical, habit-forming 18-30 age group. Multinational brands are tapping into this market, from Nike’s ‘Pro Hijab’ to the fashion shows of Dolce & Gabbana.
Southeast Europe has excellent potential as a trade partner and trade facilitator in the creative industries. Bosnia in particular is uniquely primed to capitalize on a blend of European and Islamic cultures, given its ancient position as a crossroads of these traditions. While the design sub-sector is the region’s most prominent export, nearly all SEE countries have strong capacities in other areas of the creative economy. However, additional capital is required to fully operationalize these capacities.
Expected exhibitors: Representatives from print and media industries, film production professionals, music production professionals, intellectual property lawyers, musicians, artists, talent representation agencies, television and film studios, individual entrepreneurs, investors