62% of world wine production comes from the European Union, according to study

Red Wine

Published Mar 23, 2024

Tridge summary

The European Union (EU) dominates the global wine industry, accounting for 62% of the world's production, according to a PwC study. The sector, which employs nearly 3 million people, contributed 130,000 million euros to the EU's GDP and generated a fiscal impact of nearly 52 billion in 2022. The wine industry is vital for the socioeconomic sustainability of the EU's rural areas, with vineyards being 15% more profitable than other crops. Wine is also the EU's second most exported agri-food product, with exports valued at 17.9 billion euros in 2022.

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Original content

62% of world wine production comes from the European Union (EU), where the sector employs almost 3 million people and where it reached a contribution of 130,000 million euros to the GDP of the community club in 2022, as announced by the European Committee of Wine Companies (CEEV). These data, which are the result of a study carried out by the consulting firm PwC - on behalf of the CEEV -, demonstrate that "the wine sector plays a fundamental role in the socioeconomic sustainability of rural areas of the EU "defended the president of this organization, Mauricio González-Gordon. According to the study, wine regions tend to experience less demographic decline, since most of the jobs - which account for 1.4% of total employment of the EU - are located in rural areas. The wine sector directly contributed to 2.9 million jobs in 2022 through viticulture (18%), winemaking (7%) and marketing (75%).A economic level, vineyards are 15% more profitable than other permanent crops, which, ...

Source: Agrodiario