EY Creating growth

Creating growth

Measuring cultural and creative markets in the EU

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With annual revenue of €535.9 billion and more than 7 million workers, the creative and cultural industries account for 4.2% of the GDP of the European Union and are today central to Europe’s economy and competitiveness.

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Cultural and creative industries (CCIs) embrace a wide range of sectors and activities — content creation, publishing, production, distribution and conservation of goods and services governed by specific laws and realities, developing their own particular business models.

This report is the first economic overview of cultural and creative industries within the EU. It seems that culture and creativity can become a powerful source of jobs and growth in Europe.

Eleven cultural markets were analyzed in 28 EU countries : books; newspapers and magazines; music; performing arts; television; film; radio; games and video games; visual arts, architecture; and advertising.

A dynamic and fast-growing industry, even in tough economic times

Weighing in at €535.9 billion today, creative and cultural industries have shown consistent growth through economic crisis. Job creation in CCIs grew on average by 3.5% a year from 2000 to 2007, and continued to grow at 0.7% annually between 2008 and 2012, even as the number of jobs in the rest of the economy fell 0.7%.

With more than 7 million employees, of which 19.1% are people under the age of 30, culture and creation places itself in the top three employers in Europe, just behind construction and food and beverage service activities. CCIs provide work for 2.5 times more people than automotive manufacturers.

Essential elements of the European identity and economy

Despite the prominence of their output in our daily lives, the creative industries have long played the role of the last-minute winner in an economy where manufacturing, business services and the public sector capture the limelight.
Development of cultural and creative industries is reinforcing Europe’s position as a global hub of creativity and talents. It also flags new ways in which Europe can enhance its attractiveness in a globalized economy where countries compete not only on costs but also on ideas, innovation, entrepreneurship and creativity.

In this report EY and GESAC (European Grouping of Societies of Authors) set out to provide an overview of the cultural and creative economy and the trends that should be taken into account when considering policy options affecting the sector.

Our report includes:

  • Comparative, qualitative and quantitative analyses aimed at understanding the economic role of the creative and cultural sectors in Europe
  • Key factors that will affect the global evolution of creative and cultural sectors and players  
  • Ways by which creative and cultural activities can help encourage growth, youth employment and innovation and strengthen Europe’s position globally.