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CULTURAL AND CREATIVE SPILLOVERS: HOW INVESTMENT IN CULTURE PAYS [Abstract ID: 0206-08]
Spillover is a process by which an activity in one area has a subsequent broader impact on places, society, or the economy through the overflow of concepts, ideas, skills, knowledge and different types of capital. Since 2015 the platform “European Research Partnership on Cultural and Creative Spillovers” investigates in the whole value of the arts, culture and creative industries and how investment in the arts is achieving social and economic impact.
There is growing international interest in the potential of the cultural and creative industries to drive sustainable development and create inclusive job opportunities. But there are also “intrinsic” values and aims of culture like: to entertain, to delight, to challenge, to give meaning, to interpret, to raise awareness, and to stimulate. These non-market values are difficult to measure in monetary terms, but are just as important as the instrumental values. The “Report on a preliminary evidence review of cultural and creative spillovers in Europe” from 2015 introduces three different types of spillover (Knowledge, Industry and Network) and 17 sub-categories where evidence is demonstrated most frequently. Amongst them e.g.
- Increasing visibility, tolerance and exchange between communities
- Increase in employability and skills development in society,
- Strengthening cross-border and cross-sector collaborations
- Stimulating private and foreign investment
- Boosting innovation and digital technology
- Improving health and wellbeing
- Stimulating urban development, regeneration and infrastructure
- Creating an attractive ecosystem and creative milieu, city branding and place making
The report is based on an evidence library of almost 100 reports, studies and evaluations that describe the impacts of culture and creative spillovers.