This is a summary of the main findings and conclusions of a major research study, The Economic Importance of the Arts in Britain, published in four volumes by the Policy Studies Institute.

It is known how much funding the arts receives, how it is financed, how much drama, dance, theatre, music and other art forms earn. However, there has been no attempt until now to provide a comprehensive assessment of the part played by the arts in the British economy.

This study looks at a number of questions. Are the arts a growing industry whose potential has been overlooked, since no one knows how much it contributes economically? Who does it employ? What does it earn? What is its market and who are its customers? What importance do the public and the business world attach to the arts? How much is invested and is it sufficient? What room is there for growth?