“A state aid scheme could increase the foreign film productions in Romania by up to seven times to approximately 350 m EUR, and the total aggregated economic impact could go up to EUR 1.4 billion EUR, with over 5,600 jobs and paid taxes of 110-140 m EUR,” said Mihaela Mitroi, Tax and Legal Services Leader, PwC Romania.

According to PwC Romania statistics, the film industry directly employs 650 to 750 film professionals and the taxes payed to the state budget are up to 5 m EUR every year. Revenues of up to 149 m EUR are generated in sectors that are connected to the film industry. Thus, the PwC estimates that the Romanian film industry has a total economic impact of approximately 200 m EUR, creates between 1,600 and 1,800 jobs and pays taxes of up to 22 m EUR to the state budget.

PwC also estimates that if such an aid scheme were applied, it would generate revenues up to four times higher than the value of the subsidy, which is estimated at up to 35 m EUR per year.