The creative industry stands as one of the youngest yet most rapidly expanding sectors within the Serbian economy. With an estimated value of around two billion euros, its growth trajectory shows no signs of slowing down. As part of the government’s strategic efforts to bolster the creative industry, plans are underway for the development of a multifunctional center. This center aims not only to cultivate new economic value but also to serve as a hub for nurturing talent.
The vision for Serbia’s future creative industries center is already taking shape, with a workforce of 155,000 employees ready to welcome creatives from both the region and the wider world. The ongoing reconstruction and adaptation of the old Ložionica represent an investment of 52 million euros, a sum deemed worthwhile by the state given the anticipated returns.
Ana Ilić, representing the National Platform “Serbia Creates,” highlights an 80 percent increase in the export of creative industries over the past six years. She emphasizes that the creative industry contributes significantly to the country’s GDP, rivaling sectors like construction. Moreover, it complements and collaborates with the tourism industry, with “Ložionica” expected to become a key tourist destination.
Certain sub-sectors within the creative industries have shown resilience, with some even experiencing growth during times of crisis. Notably, audio-visual content production, television and film production, and gaming have emerged as particularly robust areas. State support, including financial incentives over the past seven years, has propelled growth, with investments now 130 times higher than a decade ago.
The film industry, for instance, boasts a remarkable return on investment, with every euro invested yielding a return of 4.6 euros. This has attracted over 200 million euros in investments and driven a nearly 40 percent increase in employment. The retention of capital within the local economy, particularly evident when foreign producers film in Serbia, underscores the profitability of this sector.
Similarly, the gaming industry has flourished, with the top 15 gaming companies generating 150 million euros in revenue. These studios target various markets worldwide, facilitated by global platforms that grant access to diverse audiences.
Characterized by a youthful demographic, with individuals aged between 20 and 45 constituting the majority, the creative industry also boasts a high level of education, with around half of its workforce being women. The sector continues to witness a rise in newly established companies and entrepreneurial endeavors, signaling a promising future of innovation and growth.
