Negative Economic Impact of COVID-19 on Nation’s Arts & Culture Sector Was Significant, New Government Research Shows
Thursday, March 24, 2022
For the first time since the post-Great Recession period, the year-over-year value add of arts and culture production declined in 2020, from $930 billion in 2019 to an estimated $877 billion in 2020. Even with that decline, however, the economic impact of the creative sector is significant: the sector represented 4.2% of the nation’s Gross Domestic Product (GDP) in 2020 and supported 4.6 million wage and salary workers.