Culture and CCIs have been identified by the European Commission as one of the 14 key ecosystems for Europe and the EY study showed that CCIs are a key driver for the economy, representing 4.4% of EU GDP in terms of total turnover in 2019, and employing 7.6 million people, 8.4 x more jobs than in the telecommunications industry (www.rebuildingeurope.eu).

 

But CCIs were one of the sectors most hit by the pandemic, with a loss of on average 31% of

revenues, reaching up to 90% in the live sector; a sharp fall that will weaken the entire CCI value chain for the foreseeable future.

 

The study also confirms the key importance of the sector in the European overall economy and its vast, untapped potential to lead a strong and sustainable European recovery and it has now beenreferred to in several policy papers and resolutions from the EU institutions.