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The Relationship between Music Development and Economic Development

In: Proceedings of the 2022 2nd International Conference on Economic Development and Business Culture (ICEDBC 2022)

Author

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  • Bin Chen

    (The University of Sydney)

Abstract

Music is inextricably linked to practically everyone's life in our period. So, what is the source of the music industry's popularity? Is there a link between music development and economic development since that most popular artists are from industrialized countries? China has a rich cultural legacy, and music is an important component of that tradition. Even though China's Silk Road promotes cultural interactions, China's music industry is not as established as that of developed countries. This paper mainly discusses the relationship between the development of music and economic development, it primarily evaluates and forecasts the development of music in China and around the world, and finds that musical evolution is influenced by economic growth, music is a viable industry from a commercial standpoint, but the creative value that music provides has been diminished in some ways. This paper will illustrate a framework for music development to help individuals comprehend the current state of the music industry and to assist customers and providers in making their own decisions and judgements. This paper may also be useful for the country in determining its attitude toward music, such as whether to devote more attention to it or maintain the status quo.

Suggested Citation

  • Bin Chen, 2022. "The Relationship between Music Development and Economic Development," Advances in Economics, Business and Management Research, in: Yushi Jiang & Yuriy Shvets & Hrushikesh Mallick (ed.), Proceedings of the 2022 2nd International Conference on Economic Development and Business Culture (ICEDBC 2022), pages 37-41, Springer.
    • Handle: RePEc:spr:advbcp:978-94-6463-036-7_7
    DOI: 10.2991/978-94-6463-036-7_7
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