Creativity as one of the key competencies of the 21st century opens up almost limitless opportunities in the search for unique non-standard and innovative solutions in our constantly changing world. Th e most important component of innovative development is the creative economy, the foundations of which are cultural resources and creativity. In recent years, the creative economy has become a kind of mainstream in the processes of transformation of socio-economic systems. It contributes to the disclosure of the creative potential of a particular region, the building of mechanisms in it to support creative initiatives. Today, in many countries of the world, the development of the creative sector of the economy is a state priority. Th e United Nations has declared 2021 the International Year of the Creative Economy for Sustainable Development. In Russia, there is also great interest in this topic at all levels of government. Two years ago, a Concept was adopted for the development of creative industries and mechanisms for their state support in large and largest urban agglomerations until 2030. Th e relevant federal draft law is currently being developed. Th is article analyzes the experience of practical application of the ideas of the creative economy in the Republic of Sakha (Yakutia), recognized as the most creative region in 2022 by the results of the National Award in the field of creative industries Russian Creative Awards. The author identifi es the features, problems and prospects for the development of a new sector of the economy using the method of literature analysis, the method of generalization, comparative analysis, etc. The author of the article believes that if a number of conditions are met, the experience of Yakutia can be scaled in many other regions of the Russian Federation seeking to realize their creative potential, diversify the economy and reduce industry dependence.