Contribution of the art and culture sector to the UK economy
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| Date: | 06 October 2020 |
The Centre for Economics and Business Research (Cebr) is pleased to present this report to Arts Council England, outlining the economic and social contributions made by the arts and culture industry. This is the fifth iteration of a study first undertaken in 2013, albeit with numerous additions since then.
Additionally, this report contains an overview of a subset of the arts and culture industry by considering National Portfolio Organisations (NPOs). A bottom up approach is taken, using survey data from NPOs to estimate their direct and wider economic impacts as well as wider ‘spillover’ benefits, for example, the training and development provided to volunteers.
Turnover – defined as the total revenue generated (excl. non-commercial sources such as grants).
Gross Value Added (GVA) - is a measure of the value from production used in the national accounts and can be thought of as the value of gross domestic output less the value of inputs used to produce that output.
Employment – which refers to the number of people working in the industry. Much of this report uses the concept of Full Time Equivalent (FTE) workers to standardise for differences in part-time working between industries.
Employee compensation - the total remuneration, in cash or in kind, payable by an employer to an employee in return for work done.