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New report highlights economic benefit of investing in the arts in Wales – with every £1 spent giving a return of £2.51

A new report commissioned by Arts Council of Wales (ACW) demonstrates that the funding it distributes on behalf of the Welsh Government brings substantial economic benefit to the whole of Wales.

Conducted by independent research specialists Deyton Bell, Arts Council of Wales’s Economic Impact Report, released today, details the significant economic impact that the arts have on the Welsh economy and jobs. Ninety-two per cent of the funding ACW receives is distributed all over Wales to organisations and creative individuals.

Deyton Bell’s research shows that:

In 2023/24, for every £1 of public funding received by ACW, £2.51 went back into the economy

ACW funding is distributed across the country, bringing benefits to every community

The arts and culture industry in Wales had a turnover of £1.64b in 2023/24

Over the last decade, employment in the arts, culture and creative industries in Wales has increased by 28% - from 28,900 in 2014 to the currently reported level of 36,960

ACW’s approach to funding over the last two years post-pandemic has helped to deliver a significant recovery in economic impact, from £1.01 per £1 in 2021/22 (as the sector recovered from its devastation by the COVID-19 pandemic) to £2.51 per £1 in 2023/24.

Learn more about the economic impact report here