The creative industries sector in Serbia is one of the youngest and fastest-growing sectors of the economy, contributing around 6.5% to the GDP and employing 45% of highly educated individuals aged between 20 and 45. Compared to 2016, this sector has seen an export growth of over 80%. However, these are not just export-oriented but also creative products with added value.
Ana Ilić, the senior advisor to the Prime Minister of Serbia for creative industries, confirms that Serbia now invests 130 times more in the production of audio-visual content than in 2010.
“Through the Film Center of Serbia, the state invests in domestic film production through more than 20 annual competitions. Additionally, there is a program of incentives for filming audio-visual content in Serbia, which is intended for both domestic and foreign producers and investors in audio-visual content.
This program works flawlessly and attracts both domestic and foreign investments, as 30% of the invested amount is returned for everything invested and spent in Serbia. This brings a significant advantage to our country compared to other countries in the region competing in the production of audio-visual content. Importantly, it has been shown to benefit our economy. For every euro invested through this program, about 4.5 euros are returned to our economy. This program is designed for films, TV series, TV commercials, and what we call post-production or visual effects,” says Ilić.
Through joint efforts of the government and the industry, a film industry offer has been created, attracting global giants from Hollywood, Bollywood, and Europe. A total of 200 million euros has been invested, and employment in the sector has increased by 39%.
In the coming year, special emphasis will be placed on presenting and internationally promoting content created in Serbia, as well as attracting new investments and projects. Ilić notes that Serbia is far ahead of countries in the region “precisely because we consistently have constant growth and attract more and more foreign productions and co-productions with the participation of our productions.”
“Promoting Serbia as a hub for the production of digital or audio-visual content is what we will focus on in 2024 and 2025 because we are far ahead of countries in the region in terms of the number of produced films and TV series. This is because we have created a fantastic system of financial support that works seamlessly and truly returns everything to everyone who has invested in a very short period,” says Ilić.
Gaming earns more than the film and music industries combined in Serbia. The 15 largest gaming companies in Serbia collectively generated revenue of 150 million euros. A significant portion of the revenue comes from international markets, demonstrating the global appeal of Serbian gaming products.
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