IDEAS home Printed from https://ideas.repec.org/a/spr/lsprsc/v16y2023i1d10.1007_s12076-023-00329-9.html
   My bibliography  Save this article

The economic impact of COVID-19 on the creative industries: a sub-regional input–output approach

Author

Listed:
  • Matthew S. Lyons

    (University of Birmingham (City-REDI))

Abstract

The creative industries are a strategically important sector for the Cardiff Capital Region (CCR) which houses large public sector broadcasters and an ecosystem of IT and software businesses. The CCR is an administrative boundary in Wales which captures just under half of the Welsh population but over half of the Welsh economy. The pandemic and resultant lockdown restrictions have had profound impacts on the creative industries, a sector which depends heavily on in-person interaction. The creative industries are not one homogenous sector, but a collection of different activities some of which faced different supply and demand conditions due to the COVID-19 shock. To understand the impact of the shock in fine inter-industry detail and at a sub-regional scale an input–output table for the Cardiff Capital Region (the CCRC-IO) is utilized. The CCRC-IO estimates that the direct, indirect, and induced impacts of the shock see output fall by £457 m (0.53% of CCR output), GVA by £147 m (0.58% of CCR GVA) and FTE employment by 2416 (0.58% of CCR FTE). The paper finds that the economic impact of the COVID-19 shock varies considerably by both geography and sub-sector.

Suggested Citation

  • Matthew S. Lyons, 2023. "The economic impact of COVID-19 on the creative industries: a sub-regional input–output approach," Letters in Spatial and Resource Sciences, Springer, vol. 16(1), pages 1-12, December.
    • Handle: RePEc:spr:lsprsc:v:16:y:2023:i:1:d:10.1007_s12076-023-00329-9
    DOI: 10.1007/s12076-023-00329-9
    as

    Download full text from publisher

    File URL: http://link.springer.com/10.1007/s12076-023-00329-9
    File Function: Abstract
    Download Restriction: Access to the full text of the articles in this series is restricted.
    File URL: https://libkey.io/10.1007/s12076-023-00329-9?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Kristinn Hermannsson, 2016. "Beyond Intermediates: The Role of Consumption and Commuting in the Construction of Local Input–Output Tables," Spatial Economic Analysis, Taylor & Francis Journals, vol. 11(3), pages 315-339, July.
    2. Pichler, Anton & Pangallo, Marco & del Rio-Chanona, R. Maria & Lafond, François & Farmer, J. Doyne, 2020. "In and out of lockdown: Propagation of supply and demand shocks in a dynamic input-output model," INET Oxford Working Papers 2021-18, Institute for New Economic Thinking at the Oxford Martin School, University of Oxford, revised Feb 2021.
    3. Sara Santos Cruz & Aurora A.C. Teixeira, 2012. "Methodological approaches for measuring the creative employment: a critical appraisal with an application to Portugal," FEP Working Papers 455, Universidade do Porto, Faculdade de Economia do Porto.
    4. Peter O’Brien & Andy Pike, 2019. "‘Deal or no deal?’ Governing urban infrastructure funding and financing in the UK City Deals," Urban Studies, Urban Studies Journal Limited, vol. 56(7), pages 1448-1476, May.
    5. Anthony T. Flegg & Guiseppe R. Lamonica & Francesco M. Chelli & Maria C. Recchioni & Timo Tohmo, 2021. "Correction to: A new approach to modelling the input–output structure of regional economies using non‑survey methods," Journal of Economic Structures, Springer;Pan-Pacific Association of Input-Output Studies (PAPAIOS), vol. 10(1), pages 1-1, December.
    6. Dabo Guan & Daoping Wang & Stephane Hallegatte & Steven J. Davis & Jingwen Huo & Shuping Li & Yangchun Bai & Tianyang Lei & Qianyu Xue & D’Maris Coffman & Danyang Cheng & Peipei Chen & Xi Liang & Bing, 2020. "Global supply-chain effects of COVID-19 control measures," Nature Human Behaviour, Nature, vol. 4(6), pages 577-587, June.
    7. Christa D. Court & João-Pedro Ferreira & Geoffrey J.D. Hewings & Michael L. Lahr, 2021. "Accounting for global value chains: rising global inequality in the wake of COVID-19?," International Review of Applied Economics, Taylor & Francis Journals, vol. 35(6), pages 813-831, November.
    8. Adam Rose & Terrie Walmsley & Dan Wei, 2021. "Spatial transmission of the economic impacts of COVID-19 through international trade," Letters in Spatial and Resource Sciences, Springer, vol. 14(2), pages 169-196, August.
    9. Anthony T. Flegg & Guiseppe R. Lamonica & Francesco M. Chelli & Maria C. Recchioni & Timo Tohmo, 2021. "A new approach to modelling the input–output structure of regional economies using non-survey methods," Journal of Economic Structures, Springer;Pan-Pacific Association of Input-Output Studies (PAPAIOS), vol. 10(1), pages 1-31, December.
    10. Khlystova, Olena & Kalyuzhnova, Yelena & Belitski, Maksim, 2022. "The impact of the COVID-19 pandemic on the creative industries: A literature review and future research agenda," Journal of Business Research, Elsevier, vol. 139(C), pages 1192-1210.
    11. Michael L. Lahr & João Pedro Ferreira & Johannes R. Többen, 2020. "Intraregional trade shares for goods‐producing industries: RPC estimates using EU data," Papers in Regional Science, Wiley Blackwell, vol. 99(6), pages 1583-1605, December.
    12. Pedro N. Ramos & João Pedro Ferreira & Luís Cruz & Eduardo Barata, 2020. "Os modelos Input-Output, a estrutura setorial das economias e o impacto da crise da COVID 19," GEE Papers 0150, Gabinete de Estratégia e Estudos, Ministério da Economia, revised May 2020.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Giammetti, Raffaele & Papi, Luca & Teobaldelli, Désirée & Ticchi, Davide, 2022. "The optimality of age-based lockdown policies," Journal of Policy Modeling, Elsevier, vol. 44(3), pages 722-738.
    2. Anton Pichler & J. Doyne Farmer, 2022. "Simultaneous supply and demand constraints in input–output networks: the case of Covid-19 in Germany, Italy, and Spain," Economic Systems Research, Taylor & Francis Journals, vol. 34(3), pages 273-293, July.
    3. Ali Zackery & Joseph Amankwah-Amoah & Zahra Heidari Darani & Shiva Ghasemi, 2022. "COVID-19 Research in Business and Management: A Review and Future Research Agenda," Sustainability, MDPI, vol. 14(16), pages 1-32, August.
    4. Yosr Ben Tahar & Nada Rejeb & Adnane Maalaoui & Sascha Kraus & Paul Westhead & Paul Jones, 2023. "Emotional demands and entrepreneurial burnout: the role of autonomy and job satisfaction," Small Business Economics, Springer, vol. 61(2), pages 701-716, August.
    5. Ingyu Oh & Kyeong-Jun Kim & Chris Rowley, 2023. "Female Empowerment and Radical Empathy for the Sustainability of Creative Industries: The Case of K-Pop," Sustainability, MDPI, vol. 15(4), pages 1-18, February.
    6. Lazebnik, Teddy & Shami, Labib & Bunimovich-Mendrazitsky, Svetlana, 2023. "Intervention policy influence on the effect of epidemiological crisis on industry-level production through input–output networks," Socio-Economic Planning Sciences, Elsevier, vol. 87(PA).
    7. Zhou, Yusheng & Li, Xue & Yuen, Kum Fai, 2022. "Holistic risk assessment of container shipping service based on Bayesian Network Modelling," Reliability Engineering and System Safety, Elsevier, vol. 220(C).
    8. Kristina Gligorić & Arnaud Chiolero & Emre Kıcıman & Ryen W. White & Robert West, 2022. "Population-scale dietary interests during the COVID-19 pandemic," Nature Communications, Nature, vol. 13(1), pages 1-14, December.
    9. Jaya Priyadarshini & Rajesh Kr Singh & Ruchi Mishra & Surajit Bag, 2022. "Investigating the interaction of factors for implementing additive manufacturing to build an antifragile supply chain: TISM-MICMAC approach," Operations Management Research, Springer, vol. 15(1), pages 567-588, June.
    10. Lee, Sang M. & Lee, DonHee, 2021. "Opportunities and challenges for contactless healthcare services in the post-COVID-19 Era," Technological Forecasting and Social Change, Elsevier, vol. 167(C).
    11. Hermannsson, Kristinn & McIntyre, Stuart G., 2014. "Local consumption and territorial based accounting for CO2 emissions," Ecological Economics, Elsevier, vol. 104(C), pages 1-11.
    12. Paul, Sanjoy Kumar & Chowdhury, Priyabrata & Moktadir, Md. Abdul & Lau, Kwok Hung, 2021. "Supply chain recovery challenges in the wake of COVID-19 pandemic," Journal of Business Research, Elsevier, vol. 136(C), pages 316-329.
    13. Yang, Yang & Liu, Qing & Chang, Chia-Hsun, 2023. "China-Europe freight transportation under the first wave of COVID-19 pandemic and government restriction measures," Research in Transportation Economics, Elsevier, vol. 97(C).
    14. Homero Rodríguez-Insuasti & Néstor Montalván-Burbano & Otto Suárez-Rodríguez & Marcela Yonfá-Medranda & Katherine Parrales-Guerrero, 2022. "Creative Economy: A Worldwide Research in Business, Management and Accounting," Sustainability, MDPI, vol. 14(23), pages 1-27, November.
    15. Forliano, Canio & Bullini Orlandi, Ludovico & Zardini, Alessandro & Rossignoli, Cecilia, 2023. "Technological orientation and organizational resilience to Covid-19: The mediating role of strategy's digital maturity," Technological Forecasting and Social Change, Elsevier, vol. 188(C).
    16. João Correia-da-Silva & Joana Pinho, 2012. "The profit-sharing rule that maximizes sustainability of cartel agreements," FEP Working Papers 463, Universidade do Porto, Faculdade de Economia do Porto.
    17. Daoping Wang & Klaus Hubacek & Xi Liang & D’Maris Coffman & Stephane Hallegatte & Dabo Guan, 2021. "Reply to: Observed impacts of the COVID-19 pandemic on global trade," Nature Human Behaviour, Nature, vol. 5(3), pages 308-309, March.
    18. Magdalena Gorzelany-Dziadkowiec, 2021. "COVID-19: Business Innovation Challenges," Sustainability, MDPI, vol. 13(20), pages 1-21, October.
    19. Jinrui Pan & Jason Shachat & Sijia Wei, 2022. "Cognitive Stress and Learning Economic Order Quantity Inventory Management: An Experimental Investigation," Decision Analysis, INFORMS, vol. 19(3), pages 229-254, September.
    20. Nguyen, Hung T. & Pham, Mia Hang & Truong, Cameron, 2023. "Leadership in a pandemic: Do more able managers keep firms out of trouble?," Journal of Behavioral and Experimental Finance, Elsevier, vol. 37(C).

    More about this item

    Keywords

    Input–output; COVID-19; Creative industries;
    All these keywords.

    JEL classification:

    • R15 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Econometric and Input-Output Models; Other Methods
    • C67 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Input-Output Models
    • L82 - Industrial Organization - - Industry Studies: Services - - - Entertainment; Media

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:spr:lsprsc:v:16:y:2023:i:1:d:10.1007_s12076-023-00329-9. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com/ .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.