Creative economy in Kazakhstan grows over threefold since 2017: AIFC Review on creative industry prospects, DKnews.kz reports.
Experts from the Astana International Financial Centre (AIFC), in collaboration with Dasco Group, have published an analytical report titled “Creative Industries in Kazakhstan: Trends and Prospects.” The document explores the current state and potential of the creative economy globally, within Central Asia and in Kazakhstan, presenting detailed statistics on digital advertising, music, film and gaming markets while offering tools and practical solutions for further growth.
The report’s primary goal is to highlight the potential of the creative industry, which could become a key driver of economic growth and cultural development. With its rich cultural heritage, pool of talent and advanced digitalization, Kazakhstan is well-positioned to strengthen its foothold in this dynamic sector.
“The AIFC is continually fostering an environment for the growth of the creative economy through infrastructure that supports creators, startups and investors. Our mission is to foster innovation and provide modern solutions for intellectual property protection, investment attraction and the promotion of creative projects on the global stage” Renat Bekturov, Governor of the AIFC
“I believe the AIFC serves as an excellent platform to build an ecosystem supporting the creative sector—from aiding emerging creators to facilitating major investments through the AIFC, allowing investors to enter and develop creative industries” Darmen Sadvakasov, Managing Partner at Dasco Group
Sadvakasov also highlighted the establishment of the Tolqyn Film Fund OEIC Ltd under the AIFC’s special regulatory framework. This is Kazakhstan’s first private film industry fund, aimed at investing in commercially viable film production companies. The fund targets a capitalisation of approximately KZT 5,5 billion over three years, with plans to support 15–20 projects diversified by genre and geography.
The AIFC and Dasco Group’s review emphasises the development potential of Kazakhstan’s creative industry, which has become a national priority in recent years. For instance, the National Development Plan of the Republic of Kazakhstan until 2029 underscores the strategic importance of creative industries in diversifying and growing the economy.
According to statistics, since 2017, the creative economy has grown 3,2 times in nominal terms, but its contribution to the country’s GDP remains relatively modest at approximately 1%. This figure places Kazakhstan behind most developed countries, highlighting significant potential for further growth in the sector.
The gross value added (GVA) of Kazakhstan’s creative economy has shown steady growth in recent years, reaching KZT 1,2 trillion in 2023. In the first half of 2024, the GVA amounted to KZT 498,7 billion.
GVA of the creative economy (in billion KZT) and its share in Kazakhstan’s GDP (in %), 2019–2024. Source: Bureau of National Statistics, Agency for Strategic Planning and Reforms of the Republic of Kazakhstan
The largest “modern” creative industry in Kazakhstan with a share of 38% is IT and video game development – the GVA of this industry amounted to KZT 459 billion., with the majority generated by software development. Other modern industries provide only KZT 138 billion, including television (99 billion), cinema (23 billion), photography (14 billion), and music (1,7 billion).
Among the “traditional” sectors, the largest contributor remains architecture, fashion and design, which accounted for 24% of the creative economy’s GVA, or KZT 286 billion. This is followed by activity of cultural and leisure institutions, with KZT 132 billion, including theaters and concert performances, libraries and museums contributing KZT 81 billion, and folk crafts with KZT 60 billion.
Business and employment in Kazakhstan’s creative economy. In 2024, the creative industries in Kazakhstan comprised 41 800 business entities, of which 12 300 were legal entities and 29 500 were individual entrepreneurs. Over the past seven years, the number of entities increased 2,7 times, representing 2% of the total registered economic entities. The number of employed individuals rose from 106,7 thousand in 2019 to 141,5 thousand by mid-2024.
Astana and Almaty lead in the number of creative industry entities, accounting for 67% of all legal entities in the sector.
Number of entities by sector in Kazakhstan’s creative economy, 2017–2024 (Units). Source: Bureau of National Statistics, Agency for Strategic Planning and Reforms of the Republic of Kazakhstan
The AIFC’s potential for developing Kazakhstan’s creative economy.
The AIFC can enhance its role in supporting the country’s creative industries. As of October 2024, 324 companies operating in this sector are registered with the AIFC, primarily in the IT sector.
The analytical review presents five solutions offered by the AIFC to create a dynamic ecosystem that fosters creativity and entrepreneurship, including:
- Leveraging the AIFC’s venture studio to foster innovation;
- Establishing a venture fund within the AIFC to support startups, including creative projects;
- Utilising the AIFC’s intellectual property framework to protect and manage creative assets;
- Attracting crowdfunding for creative projects;
- Tokenisation of assets.
More detailed information about Kazakhstan’s creative economy across various sectors and the AIFC’s opportunities for the industry can be found in the full version of the review at the following link.
Notably, the analytical review was first presented during the second meeting of the AIFC Business League on the topic “Investments in Kazakhstan’s Creative Industry,” which took place on December 24, 2024, in Almaty with the support of Eurasian Bank.
