Creative economy report : 2016 update economic policy department

Abstract

This report updates the Culture and Creative Industry (CCI) Report published in 2014 by the Economic Policy Department and contains an update of the economic evaluation. This update is however based on internal estimates carried out on the basis of national accounts data rather than the more detailed raw data from the SBS at 4-digit level. As a result, the data used in this report, particularly the sub-sectoral data, contains more estimates and hence can be less reliable than previous data prior to 2010. Nevertheless, the national accounts data still permits a broad analysis of the performance of the CCIs between 2010 and 2015. The CCIs over this period have outperformed the rest of the economy and in 2015 accounted for 7% of total gross value added and 6% of gainful employment. The high productivity of the CCIs has been maintained and labour productivity has actually increased during the period under review. The CCIs benefitted from a strong increase in turnover and profit margins have been sustained.