Answered step by step
Verified Expert Solution
Question
1 Approved Answer
The Arts and recreation services industry experienced continued growth across most key data items. Arts and recreation services industry division earnings grew 2.9% ($156m), following
The Arts and recreation services industry experienced continued growth across most key data items. Arts and recreation services industry division earnings grew 2.9% ($156m), following an increase of 21.1% ($933m) in 2020-21. The earnings increase was driven by a rise in Sales and service income of (13.4%, $4.5b), which was offset by a decrease in Government funding including COVID-19 support payments of (-4.1%, -$1.6b), and increases in Selected labour costs (4.8%, $436m), Purchases of goods and materials (16.2%, $410m) and Other selected expenses (10.1%, $2.1b). IVA increased 25.0% ($3.0b), following a 6.4% (-$819m) increase in 2020-21. Unlike earnings, IVA is not impacted by COVID-19 subsidies or labour costs. IVA growth was driven by the Sports and recreation activities subdivision, which showed IVA growth of 24.2% ($1.3b). The Gambling activities subdivision also experienced a 21.9% ($946m) increase in IVA as a result of growth in online gambling activities. Arts and recreation services industry Employment increased 25,000 people (11.4%). is this one help
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started