In recent years, the issues of taking into account the ethnic factor in Russia's economic policy have become increasingly relevant in the context of the need to increase competitiveness, on the one hand, and to preserve the state's identity in the global agenda, on the other. The constituent entities of the Russian Federation have different potential, the main component of which is the diversity of ethnic groups. In fact, the genotype of the territory is characterized by the titular ethnic group, which determines the nature of the generation of the region. Each ethnic group is unique in its own way, and their diversity increases the potential for socio-economic development of the region, contributing to its sustainability. The analysis of theoretical approaches to the consideration of the ethnic factor in socio-economic development led to the conclusion that it is necessary to preserve the ethnic mosaic of each region, as well as to identify the ethnic potential for the development of the creative economy. The developed proposals for the development of a new state program at the federal level and subsequent regional programs for the development of the creative economy, including comprehensive support measures for the development of creative industries for regional ethnic groups, are of particular interest. The practical significance lies in the involvement of unique ethnic groups in the implementation of the creative economy, which is especially important for regions with a low level of socio-economic development. The article is of interest to researchers interested in spatial development issues and representatives of executive authorities at the federal and regional levels.