DistantNews
Support us
Austria's visual arts sector generates billions, study finds
🇦🇹 Austria /Economy & Trade

Austria's visual arts sector generates billions, study finds

From Die Presse · () German

Translated from German, summarized and contextualized by DistantNews.

At a glance

News Sources not specified Context piece
  • A new study reveals the visual arts sector in Austria generates nearly 6.3 billion euros annually, employing over 90,000 people.
  • The sector contributes 2.8 billion euros in taxes, significantly more than the agricultural sector which receives more than double in subsidies.
  • The findings challenge the undervaluation of the arts in Austria and highlight its economic potential, urging political support and investment.

A new study on the economic impact of the visual arts in Austria reveals the sector generates nearly 6.3 billion euros annually, employing over 90,000 people. This figure surpasses the gross value added by the beverage industry, telecommunications, and paper industry, and is comparable to the construction sector.

The visual arts sector generates nearly 6.3 billion euros.

— Study by Paul and Collegen/EconmoveThe article cites a new study detailing the economic output of Austria's visual arts sector.

The study, conducted by Paul and Collegen/Econmove for the Galleries Association, also highlights that the visual arts sector contributes 2.8 billion euros in taxes to the state. In contrast, the broader arts and culture sector, which includes theater, film, and music, is set to receive only 609 million euros in subsidies in 2027.

The visual arts sector employs over 90,000 people.

— Study by Paul and Collegen/EconmoveThe study's findings on employment within the visual arts sector are presented as a significant economic contribution.

"Art magazine.cc" pointed out that the agricultural sector, while generating less gross value added (around 5 billion euros), receives more than double in subsidies (1.34 billion euros). The article urges Culture Minister Andreas Babler to recognize the arts not as an "elitist collection" but as a sector with significant growth potential.

The visual arts sector contributes 2.8 billion euros in taxes.

— Study by Paul and Collegen/EconmoveThe tax revenue generated by the arts is highlighted to demonstrate its financial importance to the state.

With Austria facing budget cuts, the article warns that reduced subsidies could lead to decreased attractiveness of cultural institutions and subsequent job losses. These losses could extend beyond the arts to related sectors like tourism, education, transport, and insurance, underscoring the interconnected economic role of the arts.

The visual arts sector generates less gross value added than agriculture.

— Artmagazine.ccA comparison is drawn between the economic output of the arts and agriculture, highlighting the disparity in subsidies.
DistantNews Editorial

Originally published by Die Presse in German. Translated, summarized, and contextualized by our editorial team with added local perspective. Read our editorial standards.

More Stories

From Our Blog