Despite this, migrants have proven to be a source of prosperity, innovation, and sustainable development to countries of origin, transit, and host countries. Their financial contribution through remittance offers a lifeline to families and spur local markets especially those of Low- and Middle-Income Countries while their role in the labour market remains invaluable as evident on the frontline of the COVID-19 pandemic response. Their knowledge, networks, and skills have greatly contributed to the development of resilient communities.
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Similarly, Getty Images, a leading creator and distributor of still imagery, video footage, and music, was the first company to license digital imagery online. Investing more than $450 million, it has developed and deployed tools to allow users to intuitively search for, license, and download images for use online and in traditional publishing and broadcasting settings. Getty licenses over 200,000 images a day (more than 2 images per second) and serves over one million customers. This thriving commercial marketplace is possible because Getty has developed the technological tools to efficiently set license terms via automated digital transactions.
Globally, copyright is a driver of economic benefits. Analyzing forty-two national studies of the economic contributions of the copyright industries, the World Intellectual Property Organization (WIPO) found in 2014 that countries with an above-average share of gross domestic product (GDP) attributed to the copyright industries have rapid economic growth and above-average national employment. This should not be surprising, given the important role property rights play in creating efficient markets, encouraging product differentiation and competition, enabling division of labor, and spurring investments by entities beyond the original creator. 2ff7e9595c
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