The economic value of heritage is not always recognised. The report on Heritage and the Economy 2020 by Historic England makes the point that heritage in England directly generated £14.7 bn GVA in 2019 (and £36.6 bn GVA taking into account direct, indirect and induced income), and directly created 206,000 jobs. Taking direct, indirect and induced GVA, the total generated by heritage for 2019 was £36.6 bn, and created 563,509 jobs.
The dataset accompanying the report, Heritage Economic Estimate Indicators, shows that the heritage sector generated over £5 bn directly and indirectly in the East of England and the South East, and £8 bn if induced income is taken into account. This regional amount represents approximately 20 per cent of heritage GVA for England.
The sector also provided over 80,000 jobs, directly and indirectly in the two regions in 2019; taking account of the induced element, this rises to 140,000 regional jobs in 2019. This regional amount represents some 25 per cent of the heritage jobs in England.
A healthy heritage sector is one of the keys for the recovery of the national economy.