Uncover the economic and societal impact of Cultural and Creative Sectors (CCS) in this insightful exploration tailored for professionals and enthusiasts in European Heritage. Delving into the vibrant landscape of CCS, the report reveals its pivotal role, contributing 7% of enterprises and 2.2% of the total business economy gross value added (GVA) across OECD countries. With employment figures reaching up to 1 in 20 jobs in some nations, the CCS growth outpaces other business sectors.
As engines of innovation, CCS propel advancements across industries, introducing novel products, services, and business models. Despite their significant impact, these innovations often elude conventional statistical measures designed for more traditional sectors like manufacturing. It emphasises the diverse nature of CCS entities, spanning not-for-profit institutions to global giants, with unique cost structures and business models. Yet, many creative businesses face challenges in accessing bank credit due to their reliance on intangible assets.
A critical analysis of the pandemic’s aftermath reveals the disparate impact on CCS, with venue-based activities suffering while digital content-focused businesses thrived. The document advocates for equitable support measures tailored to the nuanced challenges faced by the sector. As digital transformation reshapes the landscape, addressing disparities in access and skills becomes paramount for fully leveraging the potential of CCS.
Cultural participation emerges as a driving force, linked to social and economic benefits such as inclusion, civic engagement, and health. Despite a dip in spending during the pandemic, the document underscores the enduring demand for cultural experiences. Finally, it advocates for a cross-cutting approach, urging governments to view culture as both an economic and social investment, and mainstream CCS into broader policy agendas. This comprehensive strategy, it argues, is vital for unlocking the full potential of CCS in driving economic growth, fostering innovation, and contributing to societal well-being.
