The creative industries effect

There is hardly a sector that has gained more relevance in Europe in recent years as an economic and competitive factor than the creative industries. As a driver of growth and innovation, the creative industries constitute an important factor of success in the Austrian economy. While the innovative potential in the creative industries as such is very high, they also act as a catalyst for innovative products and services in other enterprises, fuelling their creation of value and growth. Other sectors, regional innovation systems and Austria as a business location are the beneficiaries of this creative industries effect.

The creative industries in Austria are made up of self-employed persons and enterprises in fields such as design, fashion, advertisement, the film and music industry, architecture, software and games, publishing, radio and photography who are engaged in the creation, production and distribution of creative and cultural products and services.

Creative Industries Strategy for Austria

Austria has been among the first movers to recognise the importance of creative industries with regard to innovation policy and has incorporated the creatives industries into the national strategy for research, technology and innovation back in 2011. In 2016, the Creative Industries Strategy for Austria has been drafted. This strategy sets out the pathway for the next years till 2025. The Austrian national support programme for creative industries is implemented by Austria Wirtschaftsservice GmbH and Kreativwirtschaft Austria. Financial support schemes as well as various services ranging from training to networking help to bring to life innovations related to the creative industries.

Creative Industries Reports

Creative industries account for more than 10% of all Austrian enterprises (around 42,000) and for 3.8% of the gross value added – almost as important as tourism with 4%! They are one of the Austrian growth drivers, having generated a total revenues growth between 2008 and 2016 of 21% (overall economy: 8%) and an employment growth of 16% (overall economy: 7%). With 91% of the creative companies being innovation active, 75% contributing to product or service innovations and 44% dealing with new business models, the creative industries are a key innovation driver for the Austrian economy.