A recent report from the Canadian Chamber of Commerce highlights the significant contribution of Canada’s arts and culture sector to the economy, amounting to $65 billion last year. The report emphasizes the need for increased public investment to counterbalance a decline in private funding and rising costs.
According to the report, for every dollar invested by the federal government in arts and culture, there is a $29 return in economic activity. Notably, the economic impact of arts and culture is most pronounced in Ontario, Quebec, and British Columbia, where it sustains hundreds of thousands of jobs.
Dane Bland, the director of development and engagement at the Toronto Arts Council and Foundation, underscored the report’s validation of the intrinsic value of arts and culture to Canadians’ lives and the economy. He emphasized the pervasive nature of culture in Toronto and its positive influence on economic indicators.
The report signals to government entities the importance of allocating public funds to support arts and culture, not only for financial gains but also for the public good. It stresses the necessity of increased funding due to the sector not keeping pace with inflation.
In 2023, Ontario’s arts and culture sector contributed $28 billion to the Canadian GDP, representing 43% of the sector’s economic impact in the country that year. The sector in Ontario also supported over 458,000 jobs, with visual arts, applied arts, as well as audio-visual and interactive media, being the top revenue generators.
Describing arts and culture as an “economic engine,” the report highlights the sector’s growth outpacing industries like oil and gas, wholesale trade, and manufacturing since 2011. It notes a worrisome trend of declining federal investment in arts, culture, and heritage relative to total federal spending, alongside challenges faced by government grants, earned revenue, and private donations.
Aubrey Reeves, president and CEO of Business / Arts, emphasized the collaborative effort behind the report, showcasing the economic impact and making a data-driven case for increased investment in the sector. She pointed out that Toronto houses the highest number of arts and culture jobs in the nation.
The report’s findings indicate a remarkable return on investment in the arts and culture sector, surpassing the overall growth of Canada’s economy. Reeves stressed the urgency of investing in arts and culture to preserve national identity, foster pride, and communicate values globally through the creativity of artists and storytellers.
Furthermore, the report highlights the social benefits of arts funding, linking higher per-capita grants to enhanced community cohesion, support for newcomers’ integration, and skills development. It underscores the positive effects of arts on residential and property sectors while utilizing Statistics Canada data to analyze arts and culture across various categories.