[ad_1]
COVID19 is chang-ing the European Cultural and Creative Industry (CCI) for good. This is how a 27-page long report released by Ernst & Young (EY) in January 2021 and commissioned by the European Grouping of Societies of Authors and Composers (GESAC) could be summed up in a concise way. The report depicts both the traits of the European CCI as well as the overall impact of COVID-19 on the former. So, what is the CCI actually?
It is an economics sector and category that pools together the following industries: Visual arts, Music, Audiovisuals, Performing arts, Advertising, Architecture, Books, Newspapers and magazines, the Video games industry and Radio. There are a few basic facts that might have gone unreported over the past few years, namely: the CCI accounts for a staggering 4.4 per cent of the European economy when the added economic value is measured as a share of overall GDP. Figure 1 shows the absolute values in billions of Euros for different sectors of the European economy.
It is somehow astonishing to notice that the CCI has a bigger impact on our economy, compared to sectors relative to Agriculture, forestry and fisheries, Textiles, Leather and clothing, Telecommunications, Aerospace, Chemicals, Oil and gas extraction, High-tech goods, Pharmaceuticals and High-tech goods. According to EY, In 2019, the core activities of the cultural and creative sectors employed 7.6 million people in the EU. Between 2013 and 2019, the workforce in the CCI increased at a growth rate of 1.9 per cent, which was higher than the average 1.3 per cent rate holding for the overall economy. As figure 2 shows, at the end of 2019, the CCI employed more people than the automotive industry or the chemical industry.
Within the CCI, as few as four sectors provide employment for more than one million people, namely: Visual arts, Music, Audiovisual and Performing arts. The latter account for almost 70 per cent of the total of 7.6 million mentioned above (see figure 2). On top of the value the CCI represents internally to the European economy in terms of added value and employment-potential, one …
[ad_2]
Source link
