May 29, 2013

Growth
driver

A recent TNS Sofres study commissioned by the European Cultural and Creative Industries Alliance (ECCIA) shows that over 75% of European citizens recognize the importance of the high-end sector in preserving European culture and driving growth.

The ECCIA study—covering 5,000 citizens—aimed to gauge perceptions of the high-end cultural and creative industries as a follow-up to a 2009 study. Carried out in Germany, Spain, France, Italy and the UK, the study highlights the growing positive image of the high-end industry across Europe.

Respondents perceive the high-end industry as pivotal to strengthening Europe’s global cultural influence, as well as an ambassador of European values such as quality, trust, craftsmanship, creativity and excellence. This perception is supported by the industry’s robust export performance.

Beyond culture, the high-end sector is also seen as increasingly significant to the European economy, helping stimulate employment, growth and competitiveness.

Citizens’ perceptions reflect the performance of the sector, which accounts for over 400 billion euros in annual revenues—3% of Europe’s GDP—and employs over 1.5 million people. LVMH Group companies play a very significant role in this contribution to the European economy.

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