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Monday June 3rd, 2024

Creative industries remain an untapped sector in Sri Lanka

ECONOMYNEXT – The power of creative economies as an accelerator of Gross Domestic Product (GDP) has been harnessed in many countries around the world.

Creative industries create employment, income, increase export earnings, promote innovation and contribute to societal wellbeing (United Nations Publications, 2002).

The creative industry sector generated USD 2,250 billion in revenues and amounted to 3% of the global GDP in 2015, a study conducted by Ernst & Young and presented jointly by UNESCO and CISAC (the International Confederation of Authors and Composers Society) showed.

The “creative economy” encompasses all industries relying on creative activities and akin to the “knowledge economy” is a key driver of endogenous growth through investment in human capital.

The United Nations Conference on Trade and Development (UNCTAD) defines creative industries as cycles of creating, producing and distributing goods and services that use creativity and intellectual capital as primary inputs.

They compromise a set of knowledge-based activities that produce tangible goods and intangible or artistic services with creative content, economic value and market objectives.

Globally, creative economies are a feasible development option in developing economies (United Nations Publications, 2002).

UNCTAD estimates that in 2020, creative goods and services represented 3% to 21% of total merchandise and services exports and it employed more young people than any other industries and accounted for more than 50 million jobs worldwide.

In 2020 main export products in creative goods were design products, new media products, art crafts, visual arts, publishing and performing arts.

In South Asia, India leads in creative goods exports.

Creative Services vastly exceed exports in creative goods but are more difficult to measure.

A White Paper published by the World Economic Forum identified the following factors in enabling a creative economy:
a) Enhancing the local strengths through academic, research and cultural centres to allow ideas and people to mingle.
b) Enabling technological platforms to enable creative ventures to be launched from any location to scale.
c) Inspiring entrepreneurs – highlighting successful individuals to inspire and train other creative entrepreneurs.
d) Governmental regulation and incentives to create the right conditions for creativity to flourish
e) The power of place – making the locality a place people want to live due to location and amenities.

The paper highlights how Chinese governments focus on developing creative clusters including an art zone and creative village with more than 1,000 artists from around the world has led to Beijing becoming a leading creative economy hub in Asia (The World Economic Forum, 2016).

Creative economies recognise and value to interplay between human creativity, ideas, intellectual property, knowledge and technology (United Nations Publications, 2002).

The United National Generation Assembly Resolution 74/198 highlighted that the creative economy is contributing to the Sustainable Development Goals (SDGs) in multiple ways, especially in Goal 1(no poverty), 5(gender equality), 8(decent work and economic growth), 9 (industry, innovation and infrastructure), 10 (reduced inequalities), 11 (sustainable cities), 12 (sustainable consumption and production pattern), 15 (peaceful and inclusive societies) and 17 (means of implementation and global partnerships).

As we navigate the narrow and perilous path of economic revival in Sri Lanka in an unstable and uncertain world, thought should be given to whether enough is being done by both the policy makers and private enterprise to foster the creative economy in Sri Lanka.

In this context the work being done by local arts organisations bear special examination.

The author is a patron of the arts. (Colombo/Jan18/2024)

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Water levels rising in Sri Lanka Kalu, Nilwala river basins: Irrigation Department

ECONOMYNEXT – Sri Lanka’s Irrigation Department has issued warnings that water levels in the Kalu River basin are rising and major flooding is possible due to the continuous rain. People living in close proximity are advised to take precautions.

“There is a high possibility of slowly increasing prevailing flood lowline areas of Kiriella, Millaniya, Ingiriya, Horana, Dodangoda, Bulathsinhala, Palinda Nuwara and Madurawala D/S divisions of Ratnapura and Kalutara Districts, up to next 48 hours,” it said issuing a warning.

“In addition, flood situation prevailing at upstream lowline areas of Ratnapura district will further be prevailing with a slight decrease.

“The residents and vehicle drivers running through those area are requested to pay high attention in this regard.

“Disaster Management Authorities are requested to take adequate precautions in this regard.”

The island is in the midst of south western monsoon.

DMC reported that 11,864 people belonging to 3,727 families have been affected due to the weather in Rathnapura, Kegalle, Kilinochchi, Jaffna, Mullaitivu, Kalutara, Gampaha, Colombo, Galle, Matara, Hambantota, Puttalam, Kurunegala, Kandy, Nuwara Eliya, Anuradhapura, Polonnaruwa, Badulla, Moneragala, and Trincomalee districts.

Meanwhile, the Meteorology Department stated that showers are expected on most parts of the island today.(Colombo/June3/2024)

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UNP gen secy defends call for postponing Sri Lanka poll, claims opposition silent

The UNP party headquarters in Pitakotte/EconomyNext

ECONOMYNEXT — United National Party (UNP) General Secretary Palitha Range Bandara has defended his call for postponing Sri Lanka’s presidential election by two years, claiming that his proposal was not undemocratic nor unconstitutional.

Speaking to reporters at the UNP headquarters Monday June 03 morning, Bandara also claimed that neither opposition leader Sajith Premadasa nor National People’s Power (NPP) leader Anura Kumara Dissanayake have spoken against his proposal.

“I have made no statement that’s undemocratic. My statement was in line with provisions of the constitution,” the former UNP parliamentarian said.

He quoted Section 86 of Chapter XIII of the constitution which says: “The President may, subject to the provisions of Article 85, submit to the People by Referendum any matter which in the opinion of the President is of national importance.”

Sections 87.1, 87.2 also elaborates on the matter and describes the parliament’s role, said Bandara.

“I spoke of a referendum and parliament’s duty. Neither of this is antidemocratic or unconstitutional. As per the constitution, priority should be given to ensuring people’s right to life,” he said.

“Some parties may be against what I proposed. They may criticse me. But what I ask them is to come to one position as political parties and make a statement on whether they’re ready to continue the ongoing economic programme,” he added.

Bandara claimed that, though thee has been much criticism of his proposal for a postponement of the presidential election, President Wickremesinghe’s rivals Premadasa and Dissanayake have yet to remark on the matter.

“I suggested that [Premadasa] make this proposal in parliament and for [Dissanayake] to second it. But I don’t see that either Premadasa nor Dissanayake is opposed to it. To date, I have not seen nor heard either of them utter a word against this. I believe they have no objection to my proposal which was made for the betterment of the country,” he said. (Colombo/Jun03/2024)

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Support for AKD drops to SP’s level while RW makes gains, Sri Lanka poll shows

ECONOMYNEXT — Support for leftist candidate Anura Kumara Dissanayake dropped six percentage points to 39 percent in April, levelling with opposition leader Sajith Premadasa, while support for President Ranil Wickremesinghe increased three points to 13 percent in a presidential election voting intent poll.

The Sri Lanka Opinion Tracker Survey (SLOTS) conducted by the Institute for Health Policy showed that, according to its Multilevel Regression and Poststratification (MRP) provisional estimates of presidential election voting intent, National People’s Power (NPP) leader Dissanayake and main opposition Samagi Jana Balawegaya (SJB) lader Premadasa were now neck and neck while United National Party (UNP) leader Wickremesinghe had made some gains. A generic candidate for the ruling Sri Lanka Podujana Peramuna (SLPP) had the support of 9 percent of the people surveyed, up 1 percentage point from March.

These estimates use the January 2024 revision of the IHP’s SLOTS MRP model. The latest update is for all adults and uses data from 17,134 interviews conducted from October 2021 to 19 May 2024, including 444 interviews during April 2024. According to the institute, 100 bootstraps were run to capture model uncertainty. Margins of error are assessed as 1–4% for April.

SLOTS polling director and IHP director Ravi Rannan-Eliya was quoted as saying: “The SLOTS polling in April suffered from a lower response rate owing to the New Year holidays, and we think this may have skewed the sample in favour of SJB supporters. The early May interviews partly compensated for this, and it’s possible that our June interviews may result in further revisions
to our model estimates.

Rannan-Eliya also noted that a number of other internet polls may be overestimating support for the NPP or its main constituent party the Janatha Vimukthi Peramuna (JVP) by about 10 percent.

“We’ve been asked about some other recent internet polls that showed much higher levels of support for the NPP/JVP. We think these over-estimate NPP/JVP support. SLOTS routinely collects data from all respondents on whether they have internet access, and whether they are willing to participate in an internet survey. These data show that NPP/JVP supporters are far more likely to have internet access and even more likely to be willing to respond to internet surveys, and this difference remains even after controlling for past voting behaviour. Our data indicates internet polls may overestimate NPP/JVP support by about 10 percent, and for this kind of reason we have previously decided that the time is not right to do internet polling,” he said.

According to the IHP, its SLOTS MRP methodology first estimates the relationship between a wide variety of characteristics about respondents and their opinions – in this case, ‘If there was a Presidential Election today, who would you vote for?’– in a multilevel statistical model that also smooths month to month changes. It then uses a large data file that is calibrated to the national population to predict voting intent in each month since October 2021, according to what the multilevel model says about their probability of voting for various parties (‘post-stratification’) at each point in time. The multilevel model was estimated 100 times to reflect underlying uncertainties in the model and to obtain margins of error, the institute said. (Colombo/Jun03/2024)

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