This schema focusses on the economic outcomes of cultural engagement for individuals.
Dynamic and resilient local economies are required to sustain flourishing and fulfilled communities, providing a range of opportunities for our diverse community members to participate in and benefit from the economy.
The cultural and creative industries provide an array of opportunities for economic participation, income generation and economic development. In Australia, the cultural industries account for an estimated 6.9% (or $86 billion) of Gross Domestic Product annually (ABS 2014). This is the result of individuals creating and selling their cultural products and services. Culture-related activities can also patronise businesses from diverse industries within the broader economy (either directly or indirectly) who may provide goods and services that support the delivery of cultural activity (i.e tourism and hospitality industry).
Below we offer some suggestions of measurable outcomes of cultural engagement in the economic domain. This page should be read in conjunction with the pages on measurable outcomes in the cultural, social, governance and environmental domains.
These outcomes are currently in draft form and are being refined as we examine more theory and research and consult economic policy experts.
Economic outcomes in this schema include:
- Professional and/or practice capability increased
- Employment-enhancing skill development facilitated
- Individual economic wellbeing increased
- Local economy supported