Paying our way: the success story of the economic contribution of the arts and culture
Richard Russell, our Director for Policy and Research, introduces our newly published report on the economic contribution of arts and culture.
How can we measure the value of art and culture? We acknowledge its crucial importance, and yet what art is and what it does is so bound up with our lives that it’s a challenge to unpick the threads. Of course, we should try not to obsess about measurement. But, at the Arts Council, we invest public money on behalf of the tax payer, so we have a responsibility to demonstrate the value of that investment.
The more we understand – and talk about – what value art and culture has, in terms of the economy, our education, health and wellbeing, the lives of our communities and of our nation, the more we can give government and the taxpayer the confidence to invest.
It was with this in mind that the Arts Council first asked the Centre for Economics and Business Research (Cebr) to take a hard look at the economic effects of investment in art and culture in 2013. The result was an eye opening report, showing how the nation as a whole benefitted from a modest amount of public investment. We are encouraged to see how this latest report confirms – and strengthens – those findings.
In that first report, the Cebr found that based on figures for 2010, the arts and culture made a £5.6 billion contribution to the national economy in terms of Gross Value Added (GVA). By 2013 this had increased to £7.7 billion, which represents a significant increase and a clear demonstration of the growing strength of the sector.
Arts and culture incubate talent for the wider creative sector – so this is great news for the creative sector as a whole, and for the national economy.
Overall, the Cebr report shows how the arts and culture sector is more than paying its way. Every pound of public funding going to the Arts Council’s National portfolio organisations pays back £5 in tax contributions from the sector as a whole. The most recent figures show an annual return of £2.35 billion to the Treasury.
The new report also estimates that tourism contributed close to a billion pounds per annum to the economy, a significant increase on the previous available figures of £860million.
The Economic Contribution of Arts and Culture – A CFCP Online Debate
All this week The Centre For Creative Practices are holding an online a discussion / debate about the economic contribution of arts and culture.
The week will include: webinars, blog posts, Twitter Feeds, group discussion and videos on how economic strategists, arts professionals, artists and arts organisations see this economic contribution. Is it sustainable? is it relevant or should we be concentrating of creativity and engagement more than economic contribution?
Get involved, use the hashtag #artseconomyire on Twitter or Facebook and lets get this discussion out there. It’s one we need to have and this is your chance to get involved.
Follow the debate online by clicking here >>
About Platform 1 from CFCP
As part of our artistic entrepreneurship programme we have introduced Platform 1, where each day we will post a snippet of information that we think might be of interest to you and to us.
Please feel free to comment, share, post your own suggestions or snippets as together we can build a repository of information that can benefit everyone on the journey.
Why Platform 1, well every journey has to start somewhere and every station has a platform 1, our departure point.
For more hints & tips see: http://cfcp.ie/platform-1/