In Britain, every pound invested in arts and culture, an additional £1.06 is generated in the economy
- Arts and culture is worth £7.7bn in gross value added to the British economy – an increase of 35.8% between 2010 and 2013.
• For every pound invested in arts and culture, an additional £1.06 is generated in the economy.
• More than one in 12 UK jobs are in the creative economy, with employment increasing 5% between 2013 and 2014, compared with a 2.1% jobs increase in the wider economy.
• Britain invests a smaller percentage, 0.3%, of its total GDP on arts and culture than other countries. Germany invests 0.4%, the EU as a whole 0.5%, Denmark 0.7% and France 0.8%.
These figures are from a Creative Industries Federation report that, published yesterday, sets out in detail the importance of public investment in the arts, whether by national or local government. You can find out more about the report here,