21 August 2012

Creative Industries: an Engine of Growth

Image: fangol | http://www.sxc.hu/photo/1358284

The companies which are considered as part of the Creative Industries are manifold and include companies which produce or distribute cultural and creative goods and services. It includes, for example, architecture and design, creative and artistic activities and crafts as well as TV, radio or software and games.

The Austrian Chamber of Commerce regularly analyses the state of the Creative Industries in Austria. Its findings are published in the form of reports. The latest, fifth report emphasises the role of the Creative Industries as an important engine of growth for the Austrian economy. While the number of companies grew by two per cent in the period between 2008 and 2010, the number of companies in the Creative Industries rose by six per cent in the same period. The number of employees also slightly increased, while the level of employment stagnated in the economy as a whole. 130,000 persons, or four per cent of the Austrian active workforce, are currently employed in the Creative Industries. The largest segment within the Creative Industries is software & games, which generates 2.2 billion Euros in revenues out of the 7 billion Euros for the Creative Industries as a whole.

The geographic distribution of companies in the Creative Industries in Austria is uneven. The majority of companies (40 per cent) are located in the capital, Vienna. In the mid to long-term, however, the report sees the greatest potential for growth and development in the industry outside the capital, in the other states (Länder). To realise their full potential, the Creative Industries need to co-operate more closely with other SMEs.

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