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Europe’s creative economy has been decimated by the effects of the COVID-19 pandemic. Venues remain closed, productions postponed and advertising revenues have plummeted.
But 2019 was a different story. Cultural and creative industries (CCIs) represented some of Europe’s biggest employers, some of its most diverse and fast-growing sectors, and a major contributor to European GDP. The balance of trade in culture posted a net surplus of €8.6 billion in 2019.
In this follow up to their hugely influential 2014 study, EY digs down into the numbers behind the continued rise of European CCIs, how they came to be an economic heavyweight, and how they just might hold to key to a strong European recovery.