Bali, 7/11/2018 – Minister of Communication and Information Rudiantara shares 4 strategies on how to encourage the creative economy in Indonesia. There are four global strategies on digital economy that can be applied by Indonesia and government representatives from countries that attend Creative Conference on Creative Economy (WCCE) at the Bali Nusa Dua Convention Center on Wednesday (11/07).

The four strategies are, first, designing policies supporting creative economy and digital economy; the second reduces the role of the government as a facilitator by increasing the role of the government as an accelerator; third, improve facilities for the millennial generation who have high innovation and creativity; fourth provides incentives for the younger generation as acceleration, especially the millennial generation to develop innovation and creativity.

“Creativity and digitalization are supporters of the digital economy,” Rudiantara said while speaking at WCCE today.

According to him, Indonesia is the largest digital and creative economy in Southeast Asia after China, India and Japan. This is an advantage for Indonesia to attract global investors from venture capital companies to channel investment to Indonesian startups.

From 2000 to 2016, the digital economy in Indonesia grew faster by 2.5% of global GDP. Rudiantara hopes that Indonesia’s digital economy contributes 12% to the national GDP valued at USD 130 billion in 2020.

Global income prediction of 56.9% comes from the digital economy in 2022. 2025 global investment is estimated to reach 24.3% worth USD 23 Trillion.

Millennials aged 18 to 23 are creators, users and spreaders of digital platforms who play an important role in the development of digital creativity and economics. The founders of four of the seven unicorn startups in Southeast Asia came from Indonesia, namely Gojek, Traveloka, Tokopedia, and Bukalapak.

Millennials have even increased the valuation of games almost USD 900 million in 2017 as players of online games and buyers of game application. Indonesia will also experience bonus demographic in 2030 where the young generation of productive age will reach 180 million people, Indonesia needs to prepare itself. Millennials must be able to compete, develop innovation and creativity to become the nation’s capital to enter the digital economy era.

The World Conference on Creative Economy (WCCE) is the first international-level conference on creative economy initiated by Indonesia. The event held on the 6-8 November 2018 at the Bali Nusa Dua Convention Center (BNDCC) is attended by representatives from over 30 countries and more than 1,500 participants. It brings the theme Inclusively Creative by raising five main issues, namely social cohesion, regulation, marketing, ecosystems, and financing of the creative industry. The outcome of WCCE will also formulate the Bali Declaration which will be proposed to the UN General Assembly next year. This is expected to further strengthen the ecosystem and support the development of the world’s creative economy, acknowledging that the world has entered a new era. (mm)