Published on: 2026-04-30
Source: Government of the Russian Federation – Government of the Russian Federation –
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Deputy Prime Minister Alexander Novak took part in the business breakfast “Creative Economy of the Caucasus: New Growth Points,” held within the framework of the Caucasian Investment Forum in Mineralnye Vody.
By the end of 2025, the share of the creative economy in GDP reached 4.2%, and the gross value added amounted to 8.3 trillion rubles – comparable with agriculture, tourism, and construction, the deputy prime minister reminded. At the same time, creative industries are growing four times faster than the economy as a whole – 56% over five years at comparable prices, while GDP growth amounted to 15%.
At the country level, a full-fledged management system has also been established. By Presidential decree, for the first time, an increase in the share of the creative industries in the economy has been secured. The target is 6% of GDP by 2030. In February 2025, the corresponding federal law came into force, the Ministry of Economic Development was appointed as the authorized body, and a coordinating council was created. Evaluating the prospects for the development of the creative economy of the North Caucasus, Alexander Novak emphasized its unique advantages.
“We came to the North Caucasus not by accident – this is truly the most creative region of the country. The basis of this creativity is that the Caucasus is actively developing today. The population is growing here. There is a very young generation here, cultural traditions and identity are developing, modern new sectors of the economy are emerging, including tourism. The creative economy is a direct response to the challenges of the region,” said the vice-premier.
This dynamic growth, noted by Alexander Novak, is largely ensured by young entrepreneurs. According to the Ministry of Economic Development, as of April 1, 2026, there were 451 thousand small and medium-sized enterprises in the creative industry, of which 342 thousand are individual entrepreneurs, with 40% of them being youth under 35 years old, whereas overall for SMEs this figure is 23%.
“Today, almost 80% of the entire creative economy is concentrated in 10 major regions. And half of all the ‘creative sector’ is Moscow. At the same time, there is great potential in the North Caucasus for the development of this direction, taking into account the economic structure, where industry does not dominate, but mainly tourism, agriculture, and the development of transport infrastructure,” said Alexander Novak.
The share of the creative economy in the VRP district is 2.1%, but there is significant hidden potential here. The industry portrait differs from the all-Russian one: gastronomy accounts for 30% of revenue, PO 22%, architecture 14%, advertising 11%, cinema 7%. The tourist flow, which has grown over three years according to Rosstat data, increasing from 3 million to 3.5 million people, was called a key catalyst for development by Alexander Novak. Around this flow, a whole spectrum of related industries is already being built – from folk crafts and gastronomy to film production.
Among the main tasks to be accomplished in the near future, the vice-premier called the approval of the Strategy for the Development of the Creative Economy.
“The task of the state is to provide support. It is already being provided, and we will continue to engage in this. The strategy that the Ministry of Economic Development is currently developing together with federal executive authorities will determine the main vectors and directions for the development of the creative industry, as well as the support measures that are necessary,” emphasized Alexander Novak.
As noted by Russia’s Minister of Economic Development Maksim Reshetnikov, the key challenge for the creative industries is to find a balance between creativity and the economy. According to him, one should not look at the sector primarily as a collection of markets and an object for investment: it is important to understand which market and with which product the entrepreneur is working.
“Often, such markets have to be formed anew, studying the consumer, understanding who will consume a particular product. For the investor, however, fundamentally understandable indicators are the norm of profitability, payback period, and cost control,” the minister emphasized.
At the same time, Maxim Reshetnikov linked the potential of the North Caucasus with the growing tourist flow, which already forms a ready sales market, as well as with local productions capable of significantly increasing added value through the creative component – provided there is competent marketing and promotion of one’s own brands.
The forum organizer is the Roscongress Foundation with the support of the Government of Russia, the Ministry of Economic Development of Russia, and the Government of the Stavropol Territory.
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