Today’s wine industry in Europe often feels opposed by politicians, temperance movements and environmental activists. According to a new report by PricewaterhouseCoopers (PwC), it can at least be happy that it contributes substantially to the EU’s finances.
The study showed that the wine industry is essential to the EU’s economy and accounts for 1.4 per cent of total employment and 0.8 per cent of the EU’s gross domestic product. In 2022, the wine sector added €130 billion to the European economy.
Europe dominates world wine production, and the export of its wines also brings substantial income. In 2022, wine exports brought in 17.9 billion euros.
The wine industry supports the countryside and prevents depopulation, creates jobs where there would otherwise be none and attracts tourists. In addition, vineyards have positive environmental effects by improving biodiversity, preventing soil erosion, managing water efficiently and providing fire protection.
The EU has more than 3.2 million hectares of vineyards. And, in addition, wine tastes delicious.
Read more: euroweeklynews
