At the request of hub.brussels, the Brussels Agency for Business Support, the VUB has conducted a study on the resilience of the Brussels economy in the post-corona era. The cultural and creative sectors (CCS) in particular were scrutinized. “They suffered greatly from the crisis, but have since made a clear recovery,” said the VUB.
The cultural and creative sectors today account for 22,000 companies in Brussels, compared to around 25,000 companies in 2019 before COVID-19. The sectors generate more than 100,000 jobs and a turnover of more than 13 billion euros. This results in a net added value of 3.9 percent for the Brussels economy.
These are good results compared to the COVID-19 period, according to the VUB. “Then Brussels’ GDP in the CCS fell by 11.2 percent, while the region’s overall GDP fell by 6.1 percent.” The following year, 2021, the Brussels cultural and creative sectors again recorded a growth of 10.1 percent. “In this way, these sectors show their resilience in Brussels”, according to VUB. “The figures indicate the great recovery capacity of these companies and, in the coming years, expect a return to pre-crisis levels.”
However, the study also points to the vulnerability of some workers in the sectors. “Freelancers and the self-employed are particularly vulnerable. They also have a lower than average monthly income.”
According to the VUB, government support during COVID-19 in particular has made it possible to limit the number of bankruptcies to a minimum and to maintain employment. “We can expect that the creative and cultural sectors in Brussels will recover and reach a stable growth level again in the period 2023-2026,” says Marlen Komorowski, professor at the VUB and author of the study. “But sub-sectors such as events, culture, art and heritage, music, performing arts and visual arts will still need the support of policy makers.”
This article is originally published on bruzz.be
