Economic Impact Assessment: the creative sector in the Western Region

Abstract

Introduction. Developments around the globe are re-defining media, arts and other related sectors as ‘creative industries’ which are being recognised for their potential impact on local and national economies. This economic impact assessment builds on previous work commissioned by the Western Development Commission and contends that artistic and cultural activities are not simple by-products of a developed economy but essential elements of economic success and sustainability. Such activities represent alternate forms of expression of human creativity that encourage lateral thinking and thus complement scientific and technological innovation. As we will see, these activities lie at the core of a number of growing sectors in the region, and contribute directly to employment growth and wealth creation2. Internationally, the case for fostering the creative economy is a convincing one. In the ten years up to 2005, the creative economy grew at twice the annual rate of the service industries and four times the rate of manufacturing in OECD countries3. In Europe, the growth of the cultural and creative sector was 12.3% higher than the growth of the overall economy from 1999 to 2003. From an economic perspective, international trade is a key component, from 2000 – 2005, trade in creative-industry products grew on average by 8.7% annually. These figures have grabbed the attention of policy makers here and abroad. This report was commissioned by the Western Development Commission (WDC) in July 2010 to consider the economic impact of the Creative Economy in the Western Region of Ireland4. It builds on previous work carried out by Oxford Economics and the WDC. That work, published as the Creative West document in early 2009 informed a great deal of debate at the regional and national level. This work attempts to add a dynamic element to what was a snapshot of the sector

    Similar works