Episode 1: Will the Pandemic Permanently Change the Arts Sector?

May 26 14:05 2020 Print This Article

As a society, we tend to both love and hate our arts sector. Love them, because we do value the contributions that music and visual arts and theater and film make to our lives particularly now. In the midst of this pandemic, how many lives have been brightened, even if for a minute, by watching Andrea Bocelli perform at the Duomo in Milan on Easter Sunday, or by seeing an impromptu concert by a fiddler on Twitter? But there is clearly some there as well, because so much of the sector operates on a shoestring, perilously close to bankruptcy, even when the economy is robust.  Not that it is not an economic contributor. According to the U.S. Bureau of Economic Analysis and the National Endowment for the Arts, the arts contribute $763 to the U.S. economy, more than agriculture, transportation or warehousing. In Canada, Statistics Canada estimates that the direct economic impact of culture products was $53.1 billion in Canada in 2017, which is about 2.7 per cent of overall GDP. About 18.8 million jobs in the country, of 3.5 per cent of the total, are in arts.

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About Article Author

Relentless Economics

Linda Nazareth, author of Relentless Economics, is an economist, author, broadcaster, and speaker. The Senior Fellow for Economics and Population Change at the Macdonald-Laurier Institute and a frequent media commentator, she is an expert on demographics and trends, and uses a wide range of media to communicate her observations about a world in transition. For twelve years until 2012, Linda was the in-house economist for Business News Network (BNN), the business cable arm of CTV (Canada’s biggest private sector broadcaster). Daily she covered the economic news of the day on-air, looking at the markets and the economic indicators and giving viewers analysis and context.

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