SPI launches Economic Impact Study on Spain’s Rebates at the San Sebastián International Film Festival
SPI's Managing Director Leon Forde and Consultant Marta Moretto presenting the study findings at San Sebastián International Film Festival on Sunday, 22nd September 2024
Olsberg•SPI (SPI) launches Economic Impact of Spain’s Rebates for Investments in International Film and Television Series, a first economic impact study of the tax incentive offered in Spain to attract international film and television productions.
The study, commissioned by Spain Film Commission and delivered in collaboration with PROFILM, is part of the Spain Audiovisual Hub initiative and was co-financed by the European Union’s NextGenerationEU programme. The study aims to understand how the tax incentive in international audiovisual production has influenced the Spanish economy, with a particular focus on job creation, contribution to Gross Added Value (GVA), and other key economic indicators.
The analysis, covering years between 2019 and 2022, shows that incentivised international productions filming in Spain spent a minimum of €1.3 billion (£1.08 billion) in Spain. This generated an estimated minimum of €1.8 billion (£1.52 billion) in GVA contributions to the Spanish economy.
The study also examines the micro impacts of incentivised film and television production activity, including the ripple effect of spending on other sectors of the Spanish economy and across geographical areas. Furthermore, the study assesses additional spillover impacts of incentivised film and television production activity, including infrastructure, skills development, and screen tourism.
The study utilises a mixed methods approach, including extensive desk research, data collection, and confidential consultations with domestic and international stakeholders across the film and television production sector, content investment, education, and government.
Download the study in English here (link).
Download the study in Spanish here (link).
More on SPI’s Economic Impact Studies here.
Contact SPI Consultant Marta Moretto on marta@o-spi.com to hear more about this study