Carlos Rosado Cobián, director of Spain’s Movie Fee, minimize a determine of intense pleasure as he stepped on stage in a small convention room this afternoon on the San Sebastian Movie Pageant.
That power was matched by the viewers of Spanish business figures contained in the room as Cobián launched what he described as a groundbreaking report on the financial influence of worldwide movie and TV productions in Spain.
The fee’s report is the primary of its type in Spain and was produced by the UK-based consultancy agency Olsberg SPI in collaboration with the Spanish producers union PROFILM.
The info collected within the detailed report covers 4 years, from 2019 to 2022. The evaluation was collated utilizing info from 165 productions that benefitted from Spain’s worldwide incentive scheme.
The report states that the 165 worldwide productions spent a minimal of 1,320 million euros within the Spanish economic system over the tracked interval, producing an estimated minimal of €1,795.6 million in Gross Worth Added contributions to the Spanish economic system. The report concludes that 70% of that cash wouldn’t have been made in Spain if the worldwide incentive had not existed. The report estimates that total, each euro of public cash invested into the motivation programme despatched 9 euros again into the Spanish economic system.
Spain has provided an incentive programme for worldwide productions since 2015. The motivation provides a tax deduction of 30% on the primary million euros spent on eligible bills and 25% on further bills. The utmost restrict of the motivation is 20 million euros for characteristic movies, and 10 million euros per episode for tv sequence.
Latest worldwide productions to shoot in Spain embrace Wed Anderson’s Asteroid Metropolis, Woody Allen’s Rifkin’s Pageant, the Emily Blunt-starring sequence The Western, and Diego Luna’s Star Wars sequence Andor.
The Movie Commision’s report types a part of the Spain Audiovisual Hub challenge, an initiative launched in 2021 by the Spanish authorities, co-financed by the European Union. The intention of the initiative is to extend audiovisual manufacturing ranges in Spain by 30% by 2025.
The San Sebastian Movie Pageant runs till September 28.
