The article presents analysis of the nature of creative economics and creative industries. It is stressed that it turns out to be rather difficult to identify those industries that do not need creative and talented people. The most significant precondition for creative economics is its creativity. Creativity may be defined as a set of inborn and mastered ability of an individual to create novelties and original images combining specific ways of thinking and habits. It is individual’s competence, knowledge and attitude which mainly are being developed during the process of educating oneself. Higher education to a certain extent may be considered the completing stage of education. The contemporary world puts forward challenging requirements for higher education and today the task of educators is not only to train specialists for the existing labour market, but to educate competitive, thinking and creative personalities which are able to judge and adapt to new changing conditions. In creative economics only those organizations and enterprises will survive whose creative potential is sufficiently high and those capable of adapting to changing conditions. Today in Latvia a rather negative attitude towards acquiring theoretical knowledge is cultivated, treating it as something superfluous for practical work. At the same time all circles of society are practically in great need for new achievements in science, original ideas, new products and innovations. These requirements are mutually controversial and conflicting. The article presents analysis of the study programmes of economics and business management of higher educational establishments to clarify how successfully the study programmes offered may educate specialists for the conditions of creative economics. The analysis made shows that most part of the study programmes are compiled not considering the requirements of creative economics and train specialists majoring in one area with concentration on knowledge needed in labour market today and ignoring knowledge-based, innovative and creative economics.