Why this report, and why now?

We believe passionately that we can contribute significantly to all seven Well-being of Future Generations goals and that we are helping to create a prosperous, resilient, healthier, more equal, globally responsible Wales with more cohesive communities, a vibrant culture and thriving Welsh language.

We have strong evidence for our social and cultural contribution, but we have not always been as good as we could have been at showing the economic benefits of our work to the people of Wales. In an era where there is huge competition for public funds, and where, at the time of writing, we have experienced a 40% reduction in our funding in real terms since 2010, we know it is vital to make the case for the Arts in every way – for the joy the Arts bring, the wellbeing the Arts support, the education the Arts deliver and the financial and economic benefits the Arts bring to the people of Wales.

 

What are the report's key findings?

Graphics showing the Annual Turnover of the Arts and Cultural Sector in Wales in £m
Return on investment remained above £1 for every £1 invested throughout the impacts of the COVID-19 pandemic. 2023/24 showed a multiplier of £2.51, only 5.7% below the pre-pandemic year of 2019/20.
Arts Council of Wales investment for every year up to 2023/24. There has been a decrease in funding available since the COVID-19 pandemic.
Graphic showing that over the past decade employment in the arts and cultural sector in Wales has increased 28% from 28,900 employees in 2014 to the currently reported level of 36,960 roles
GVA contributions showed resilience despite the pandemic, with a recovery trajectory evident in recent years. The pandemic caused a steep decline in GVA, but there is steady growth since.
An increase in the number of organisations receiving multi-year funding from 67 to 81 including 23 new organisations
Deyton Bell’s analysis shows that a modest 10% increase in funding from 2023/24 levels could yield a significant growth in return on investment - from £2.51 today to £3.29 by 2035. Critically, increased investment leads to greater returns per pound invested. Our analysis shows this could also create 1,375 additional new jobs through growth of the arts across all our partners – from major events to community support, where grassroots activity continues to create new jobs.
Scroll for some of the report's key findings
Download a summary of the report here
Download the full report here