Sipping success: Study uncorks the impact of Europe’s wine industry

A research project led by PricewaterhouseCoopers (PwC) examined how the wine industry impacts the economy and environment in the European Union (EU).

The study found that the wine industry is vital for the EU’s economy, contributing to 1.4 per cent of total employment and 0.8 per cent of the EU’s gross domestic product (GDP).

In 2022, the wine sector injected €130 billion into the European economy.

Europe dominates global wine production and trade, accounting for 62 per cent of the market.

In 2022, wine exports reached €17.9 billion, resulting in a trade surplus of €15.9 billion, helping reduce the EU’s trade deficit.

Mauricio González-Gordon, president of the European Committee of Wine Companies (CEEV), highlighted how the wine industry supports rural communities by creating jobs and attracting tourism, generating about €15 billion annually and preventing rural depopulation.

González-Gordon also praised the wine trade’s supply chain for its balanced value system, where every stage, from grape cultivation to commercialization, adds value.

The research showed that wine trade employees are highly productive compared to other industries.

PwC‘s analysis found that the value added per employee in the wine sector exceeds averages in the agriculture, manufacturing, and commercial sectors.

Additionally, vineyards have positive environmental impacts by enhancing biodiversity, preventing soil erosion, managing water efficiently, and providing fire protection across more than 3.2 million hectares in the EU.