{"id":14241,"date":"2026-01-11T15:17:05","date_gmt":"2026-01-11T07:17:05","guid":{"rendered":"https:\/\/dollarsandsense.sg\/business\/?p=14241"},"modified":"2026-01-11T15:17:08","modified_gmt":"2026-01-11T07:17:08","slug":"how-the-economic-value-of-the-arts-and-culture-sector-is-calculated-in-singapore","status":"publish","type":"post","link":"https:\/\/dollarsandsense.sg\/business\/how-the-economic-value-of-the-arts-and-culture-sector-is-calculated-in-singapore\/","title":{"rendered":"How The Economic Value Of The Arts And Culture Sector Is Calculated In Singapore"},"content":{"rendered":"\n

Singapore\u2019s economic growth is driven by manufacturing, services, and trade. In 2025, the economy expanded by 4.8% year-on-year. Annual GDP data isn\u2019t yet available, but in 2024, Singapore\u2019s GDP at current market prices was over $731.4 billion. Of this, $6.6 billion came from the Arts, Entertainment, and Recreation industry. This is the second year in a row that the industry\u2019s GDP has exceeded $6 billion, a return to pre-pandemic levels.<\/p>\n\n\n\n

In 2024, over 70% of Singapore\u2019s nominal value added was generated by the services industries, while about 25% was generated by goods-producing industries. Arts, Entertainment, and Recreation, as one of the smaller industries, gets subsumed under the umbrella term \u201cOther Service Industries\u201d.<\/p>\n\n\n\n

\"A<\/figure>\n\n\n\n

Source: SingStat<\/a><\/em><\/p>\n\n\n\n

Even according to the Singapore Standard Industrial Classification 2020 (SSIC 2020), the Arts, Entertainment and Recreation section is very broad, with everything from creative, arts, and entertainment activities, to libraries, museums, and other cultural activities, to sports, gambling, and even theme parks and nightclubs. So in this crowded category, how does Singapore determine the economic value of the Arts and Culture sector?<\/p>\n\n\n\n

Singapore Cultural Statistics<\/a> is an annual publication co-published by the Ministry of Culture, Community and Youth (MCCY), the National Heritage Board (NHB), the National Arts Council (NAC), and the People\u2019s Association (PA). It provides an update on the state of the arts and the cultural landscape in Singapore, including a section entitled \u201cEconomic Value of the Arts and Culture Sector\u201d.<\/p>\n\n\n\n

This section looks at two main statistics: total nominal value added and total operating receipts.<\/p>\n\n\n\n

Total Operating Receipts<\/h3>\n\n\n\n

Operating receipts are income earned from the provision of goods and services. This includes income from consultancy and professional services, management and administrative fees, repair or service charges, rental or lease income, contract, subcontract, and commission fees, royalties and license fees, and any other operating income.<\/p>\n\n\n\n

Over the past five years, the largest operating receipts have come from the photography sector, followed by film & video and the literary arts. In 2023, live performing arts and recorded music saw the biggest improvement in operating receipts over the past five years, far surpassing pre-pandemic levels.<\/p>\n\n\n\n

\"A<\/figure>\n\n\n\n

Source: Singapore Cultural Statistics 2025<\/a><\/em><\/p>\n\n\n\n

It is important to note that this data excludes freelancers and independent contractors \u2013 i.e. self-employed individuals who run a business but don\u2019t hire anyone else. These own-account workers are a significant part of these industries, so the data may not fully reflect reality.<\/p>\n\n\n\n

Total Nominal Value Added<\/h3>\n\n\n\n

But operating receipts don\u2019t tell the whole story. It is equivalent to simply looking at the revenue column in a company\u2019s financial statements. That is why value added is measured by a combination of operating surplus, remuneration and taxes, less subsidies, on production<\/p>\n\n\n\n

Operating surplus is defined as operating receipts, less operating expenditure and depreciation of fixed assets.<\/p>\n\n\n\n

Over the past five years, the literary arts have emerged as the biggest contributor to the value added of the arts and culture industry, dethroning the photography industry.<\/p>\n\n\n\n

\"A<\/figure>\n\n\n\n

Source: Singapore Cultural Statistics 2025<\/a><\/em><\/p>\n\n\n\n

Notably, once again, these statistics may not fully reflect reality as they exclude freelancers and independent contractors \u2013 i.e. self-employed individuals who run a business but don\u2019t hire anyone else.<\/p>\n\n\n\n

An Attempt To Determine The Value Added In The Arts And Culture Sector<\/h3>\n\n\n\n

The economic value of the arts and culture sector in Singapore is therefore based on how much they make, how much they earn, and how much they pay in taxes. It may not be the best indicator of these industries’ contributions to society, but it\u2019s a starting point.<\/p>\n\n\n\n

Beyond the headline figures of GDP and value added, Singapore recognises the importance of measuring the contributions of smaller but vital sectors, such as arts and culture. While the sector\u2019s share of Singapore\u2019s GDP is modest compared to finance or manufacturing, the government continues to acknowledge its significant role in contributing directly to GDP and employment, even as it is supported by sustained government funding and grants.<\/p>\n\n\n\n

By embedding arts and culture within the framework of nominal value added, Singapore ensures that creative industries are recognised not only as cultural assets but also as measurable drivers of economic growth.<\/p>\n","protected":false},"excerpt":{"rendered":"The Total Value-Added of Singapore’s Arts & Culture Sector in 2023 was $1.76 billion.\n","protected":false},"author":40,"featured_media":14245,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[364],"tags":[2501,2500,2502,2499],"yoast_head":"\nHow The Economic Value Of The Arts And Culture Sector Is Calculated In Singapore | DollarsAndSense Business<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/dollarsandsense.sg\/business\/how-the-economic-value-of-the-arts-and-culture-sector-is-calculated-in-singapore\/\" \/>\n<meta property=\"og:locale\" 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