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By Alessandro ZAMBONI, Partner and Vivien DEVENYI, Consultant, Wavestone
Europe’s cultural and creative sectors (CCS) count world leading artists and creators, cultural events and heritage among their ranks. Overall, CCS accounts for about 4% of Europe’s GDP, with approximately 2.45 million companies in the industry. Additionally, it produces undeniable economic value for the EU, generating EUR 145 billion of added value in 2017 and employing 7.4 million people across the EU-27 (3.7 % of all employment) in 2019 according to Eurostat. Within this ecosystem, publishing, audio-visual, performance arts and visual arts can be considered as the largest sub-sectors in terms of economic added value in the EU.
These sectors have played a crucial role...
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