Oct. 7, 2014

The Economic Contribution of the Creative Industries to the EU in terms of GDP and Jobs

By TERA Consultants

TERA Consultants has released today a study on the economic contribution of the creative industries to the EU that captures the evolution of creative industries between 2008 and 2011 in terms of employment and GDP.  

This study confirms:

  • The importance of the creative sector for Europe, representing 6.8 % of European GDP (approximately €860 billion) and 6.5% of European employment (approximately 14 million);
  • However, a negative evolution could come with a destruction of 400,000 jobs;
  • And a €20 billion value destruction and 200,000 jobs destroyed in the core sectors of the top five markets that represent over 70 % of the creative sector in Europe (France, Germany, Italy, Spain and the UK).

The study was undertaken by Laurent Benzoni, Founding Partner of TERA Consultants, and Philippe Hardouin, an economist and expert in cultural and creative sector, with the support from Forum d’Avignon.

The study is an update of a first report released in 2010 and backed by BASCAP (The International Chamber of Commerce’s Business Action to Stop Counterfeiting and Piracy). 

The findings of this study are a call to action for the incoming Commission that has pledged to generate jobs, growth and competitiveness in Europe.

 

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