The cultural and creative industries in Greece

This paper examines the economic role of Cultural and Creative Industries (CCIs), with a focus on Greece. Beyond their cultural and social value, these industries have a meaningful, though often underestimated, economic value. CCIs generate income, employment, trade and innovation. They usually account for a relatively modest share of economic activity and employment; in Greece, they account for about 1.7% of value added and about 3% of employment in the business economy. The Greek CCIs are characterised by a higher level of human capital relative to the rest of the economy, but firms are smaller and less productive than in the EU. However, there are signs of recent internationalisation of the industry, with exports growing in some sub-categories. The sector faces structural changes, particularly in terms of access to finance, since firms rely heavily on intangible assets and operate under uncertain demand conditions, both of which are inherent characteristics of CCIs. Policy coordination in different areas is needed in order for all stakeholders to be taken into consideration. Improvement of financial tools and adaptation to digitalisation and AI are key to unlocking the sector’s full economic and cultural potential.