“Creative economy’ faces challenges but still outpaces overall economy – Daily Bulletin
California’s creative industries faced a host of economic challenges over the past two years, with architecture and related services faring the best and fine art and performing arts taking the heaviest hit.
Despite those challenges, it has outpaced the Golden State’s overall economy.
That’s the upshot of the 2022 Otis College Report on the Creative Economy. The report is compiled annually to provide an economic snapshot of employment, wages and other factors for each industry.
So what exactly is the “creative economy?”
The study groups that into five major categories: Architecture and related services, fine and performing arts, entertainment and digital media, creative goods and services, and fashion.
Combined, they’re a major economic force. The business-to-business transactions and spending of employees in those industries generated an economic impact of $687.6 billion in 2020, directly employing nearly 1.4 million…