The Kazakhstani entertainment industry’s development in the context of servitization of the world economy

Abstract

The development of technologies has a decisive impact on the state of the service economy. Advanced technologies are the driver of the service economy. The service economy is focused on people’s needs, and a high rate of servitization is its main feature. Services contribute to the social orientation of the economy, raising the standard of living. In developed countries, the share of services in GDP exceeds 60-70%. The majority of highly qualified specialists are concentrated in the service sector. It applies to science, education, healthcare, telecommunications, IT, engineering services, financial and banking services, PR and marketing, and the entertainment industry. The level of development of the service economy indicates the level of the economy as a whole. Being part of the service economy, the global entertainment industry is a significant source of income for the entire world. Simultaneously, the Kazakhstani entertainment industry is recovering from the crisis and has clear tendencies to change the situation towards increasing demand from world markets. The study aims to analyze the potential of the Kazakhstani entertainment industry, which is part of the service economy. Secondary and primary information was collected. Quantitative and qualitative research was conducted in the form of surveys. When analyzing the state of the service economy, statistics from the World Bank were used. The study of the dynamics and structure of GDP in some countries made it possible to trace the structural changes taking place in the world economy under the influence of servitization processes.