Cultural Industries in Latin America and the Caribbean: Challenges and Opportunities
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Over the past decade, the new creative-cultural industries have increasingly become one of the main sources of greater production and employment in many countries. Although the growth of cultural industries has been mostly limited to the world's richest countries, a number of low- and middle-income countries have come to recognize that they too can participate in the cultural economy. In this regard, Latin American and Caribbean (LAC) countries have begun to identify new opportunities and are actively seeking sustainable solutions to maintain these industries as an integral part of cultural and economic life. The objective of this paper is to assess the strengths and weaknesses of cultural industries in LAC and offer lessons learned through this analysis to policymakers and donors. This study demonstrates the value and the potential for cultural industries in the LAC economy and also identifies the need for a comprehensive approach, structured policies, and targeted interventions aimed at improving the conditions and prospects of these industries.