STREET ART SPARKLE AS A NEW ECONOMIC DRIVER IN PENANG

The purpose of this paper is to discuss the contribution on street art as a new economy driver in Penang based on secondary data collected from literature review. This paper attempts to reveal the state and private initiatives in development of Penang street art. This paper provides a conceptual discussion about the role of street art and artists in Penang towards urban regeneration and creative place-making. The fame of street art started to flourish in Penang since 2012 when the Lithuanian artist, Ernest Zacharevic started painting a collection of murals within the inner city of George Town to portray local culture and heritage elements. Since then, sculptures, murals and other street art installations started to proliferate within George Town and other places around Penang Island. This has not only drawn the attention from the local communities but also attracted global visitors. Nowadays, Penang is not only well-known with its rich heritage and street food but also with its vibrant showcase of street art. Besides being a new key tourism product, street art is also playing a vital role in cultivating creativity and innovation among Penang’s community. Consequently, this generates impact in stimulating cross-sectors collaboration to strengthen the local economy. The discussion in this paper highlights the economic dividends generated from public art or street art through an artistic and creative public place-making process in a city. Based on the literature and relevant texts and documents, the finding in this paper provides an overview about the existing impact from Penang street art in driving or regenerating the local economy. This finding contributes as a reference for researchers who attempt to investigate the potential of art strategy or creative city strategy as a viable urban regeneration strategy. Keywords: Street Art, Economy, Penan