It is TRUE that, major urban areas are the only places benefitting from the creative economies.
People using their imaginations to add value to ideas is the foundation of the creative economy. The phrase was coined by John Howkins in 2001 to characterize economic systems where the traditional resources of capital, labor, and land are not as important as new creative abilities. In contrast to creative industries, which are restricted to particular industries, the term is used to describe creativity across the entire economy.
A creative economy can be assessed in a number of different ways. The same economic indicators, such as producer outputs, consumer spending, employment, and trade, may be used. Value chains, price, and transactional data are other tools used by businesses. Additionally, there are other signs of intellectual property.
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