Measuring the Economic Impact of COVID-19 on the Global Cultural and Creative Industries
BOP's new report for UNESCO sets out the huge global impact of COVID-19 on the cultural sector.
Jonathan Todd
BOP Chief Economist
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Jonathan is an economist with over a decade’s experience in impact assessment and evaluation, and high-level policy experience, particularly within the cultural and creative sectors.
The Brief
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Evaluate the economic impact of COVID on the Cultural and Creative Industries
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Indentify the sectors, regions and cities most impacted from the pandemic
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Estimate the losses in revenues across different countries
Context
The cultural and creative industries have fared consistently worse than national economies overall. We estimate they contracted by US $750 billion in gross value added in 2020, while job losses in this field are estimated conservatively at 10 million worldwide.
Approach
Losses in revenue of cultural and creative industries in 2020 ranged between 20 to 40% across different countries.
The biggest absolute falls in the economic contribution of the cultural and creative industries have been observed in megacities and other major urban centres, where these industries are heavily concentrated.
Findings
BOP pioneered an approach using rapid evidence review combined with LinkedIn data.
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Through the 2030 Agenda for Sustainable Development, the UN has recognised the essential role of culture in sustainable urban development. Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat. Duis aute irure dolor in reprehenderit in voluptate,
Cultural infrastructure and events are the single biggest component of the tourist product of cities
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Culture and the creative industries can bring property development gains to schemes and local areas
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