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Arts Industries Represented $1 Trillion of the US Economy in 2021 – ARTnews.com


Mar 18, 2023

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The arts and culture sectors represented much more than $1 trillion of the US economy in 2021 and accounted for a record portion of country’s all round financial worth, per new data from the government.

On Wednesday, the National Endowment for the Arts (NEA) and the Bureau of Financial Evaluation (BEA) published their newest evaluation of the economic wellness of 35 industries inside the arts. Added emphasis was placed on measuring no matter whether each and every market had returned to pre-pandemic levels of economic performance—or if they had failed to recover. 

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According to the report, among 2020 and 2021, the total financial worth contributed by arts and cultural industries elevated by 13.7 %, vastly surpassing the gains of the wider US economy, which grew by just five.9 % more than the similar period. By the finish of 2021, the arts industries created up four.four % of the nation’s overall gross domestic solution (GDP).

Of the 35 industries studied, ten—including independent performers and artists and performing arts organizations—recorded considerable development inside 2021, having said that none reached 2019-levels of financial output. The NEA also reported that just below four.9 million men and women have been employed in the arts industries in 2021, representing an raise from 2020, when the pandemic curtailed financial activity in the arts worldwide. That as well was nevertheless under the 5.two million employed in 2019.

Performing arts workers and performing art venues, two of the hardest hit places in 2019, grew in 2021 by 14 % to about 230,000 staff in total. Once again, a obtain that was nevertheless under the 323,000 workers employed by the market prior to Covid-19. 

Nonetheless, the report notes that these figures only represent staff on the bankroll of arts organizations. The decline in employment in some places could be explained by an elevated reliance on freelancers or contract workers through this period. Self-employed people historically make up a disproportionate quantity of the arts workforce compared to other industries. 

“This annual report from the NEA and BEA underscores that arts and culture are an critical element of the American economy. It is similarly apparent, having said that, that the sector nevertheless faces tremendous hardships due to COVID-19,” NEA chair Maria Rosario Jackson mentioned in a statement. 

She continued, “Because the information reflect the financial activity of nonprofit and for-profit organizations alike, it is essential to recognize the distinctive contributions each make in guaranteeing a vibrant and expansive arts and cultural sector.”

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