The Serbian government stated that a research of the Faculty of Economics in Belgrade entitled “Analysis of economic effects of the music industry on the economy of Serbia”, which is the first research ever done on this branch of creative industries, shows that the music industry in our country counts almost 20,000 full-time employees in 29 different activities.
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A:
Music industry in Serbia records 89 percent turnover growth
Belgrade,
22 March 2024
During the previous year alone, the music industry achieved a turnover of €168 million, which represents an increase of as much as 89 percent compared to five years ago.
The research, which was commissioned by the national platform "Serbia Creates" of the Serbian government, shows that in the last five years the share of gross value added (GVA) of the sector has increased by an incredible 202 percent (from 0.05 to 0.11 percent), while compared to the previous year, the GVA growth of 38 percent was achieved.
During the previous year, the amount paid in taxes and contributions increased by as much as 84 percent compared to 2018, amounting to more than €6.5 million.
When it comes to the number of employees (permanent employees 19,561), there is a growth of as much as 33 percent compared to 2022, while the number of business entities is 5,838, of which sole proprietors make up 84 percent.
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